In a recent transaction, James H. Dahl, a major shareholder of AMREP Corp. (NYSE:AXR), purchased 4,000 shares of the company's stock. The transaction took place on August 27, 2024, with the shares bought at a price of $23.15 each, totaling $92,600.
AMREP Corp., a real estate and construction company, has seen its shares being actively traded by insiders, which is often a point of interest for investors. The acquisition of shares by Dahl, who holds a significant stake in the company, is a direct investment and reflects his continued commitment to the company's future.
The shares are held directly by James H. Dahl, as indicated in the footnotes of the regulatory filing. Additionally, the filing disclosed holdings in IRA accounts and trusts, with 229,151 shares in IRA accounts and 94,120 shares in a trust. Another 173,750 shares are held by Rainey E. Lancaster, who is associated with Dahl for the purposes of Section 13(d) of the Exchange Act.
The purchase by Dahl represents a notable investment in AMREP Corp. and may be of interest to current and potential shareholders. The company, incorporated in Oklahoma with a business address in Havertown, Pennsylvania, operates in the land subdivision and development sector.
Investors often look to insider transactions as an indicator of confidence in the company's prospects. As such, significant purchases like Dahl's can provide insights into the views of those most familiar with the company's operations and potential.
In other recent news, AMREP Corporation has made significant changes to its financial oversight and executive compensation. The company has recently appointed Rosenberg Rich Baker Berman, P.A. as its new independent registered public accounting firm, replacing Baker Tilly US, LLP. This decision, approved by the Audit Committee of AMREP's Board of Directors, was made without any reported disagreements on financial statements during Baker Tilly's (NYSE:TLYS) tenure.
In addition to fiscal oversight adjustments, AMREP Corporation has disclosed compensatory arrangements for its top executives. President and CEO Christopher V. Vitale received a $150,000 cash bonus and 7,200 restricted shares of common stock, while Vice President of Finance and Accounting, Adrienne M. Uleau, was awarded a $55,000 cash bonus and 1,890 restricted shares. Both executives' salaries have also been increased.
Lastly, AMREP's Board of Directors has made amendments to the company's Bylaws. These modifications, described as technical and administrative adjustments, were made effective as of July 19, 2024. The details of these developments have been filed with the Securities and Exchange Commission. These are among the noteworthy recent developments for AMREP Corporation.
InvestingPro Insights
AMREP Corp. (NYSE:AXR) has recently been in the spotlight due to insider transactions, highlighting the company's financial health and market valuation. With a market capitalization of $113.45 million, AMREP Corp. stands out with its financial stability, as indicated by the InvestingPro Tips. The company holds more cash than debt on its balance sheet, suggesting a strong liquidity position that can be reassuring for investors. Additionally, AMREP Corp. is trading at a low EBIT valuation multiple, which could indicate that the stock is currently undervalued.
From a valuation perspective, the company's P/E ratio stands at 17.29, with a slight adjustment in the last twelve months as of Q4 2024 to 17.14, reflecting a stable earnings outlook. The revenue growth has been positive, with a 5.53% increase in the last twelve months as of Q4 2024, and an even more impressive quarterly revenue growth of 53.81% in Q4 2024. This growth trajectory is complemented by a gross profit margin of 28.17%, demonstrating the company's ability to maintain profitability.
Despite a challenging month where the stock has fared poorly with a one-month price total return of -15.2%, the long-term view remains positive. AMREP Corp. has achieved a high return over the last decade and has maintained a strong return over the last five years. For investors looking for additional insights, there are more InvestingPro Tips available, including the company's profitability over the last twelve months and the fact that its liquid assets exceed short-term obligations.
For those interested in a deeper analysis, the InvestingPro platform offers a comprehensive set of tips for AMREP Corp., which can be found at InvestingPro. With these insights, current and potential shareholders can better understand the company's financial health and make more informed investment decisions.
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