In a recent transaction, an insider of AMREP Corp. (NYSE:AXR), a company specializing in land development, has significantly increased their stake in the company. James H. Dahl, reported to be a ten percent owner of the company, purchased 1,800 shares of AMREP Corp. stock at a weighted average price ranging from $29.75 to $30.02 per share, totaling approximately $53,906.
The transaction, which took place on October 4, 2024, was disclosed through a Form 4 filing with the Securities and Exchange Commission. According to the filing, the shares are directly held by James H. Dahl and increase his ownership to 434,574 shares following the purchase. The filing also noted that the shares were bought in multiple transactions at varying prices, providing a weighted average for investors interested in the specifics of the purchase price.
AMREP Corp., with its trading symbol AXR, is known for its operations in the real estate and construction sector, primarily focusing on land subdivision and development. The company, which has its roots in Oklahoma, is now based in Havertown, Pennsylvania.
The Form 4 filing also shed light on other holdings related to James H. Dahl. It was disclosed that 229,151 shares are held indirectly in IRA accounts, and 94,120 shares are held indirectly by the Dahl Family Foundation, Inc. Additionally, Rainey E. Lancaster, also reported as a ten percent owner, holds 173,750 shares directly. The footnotes in the filing clarify that neither James H. Dahl nor any member of his family have a pecuniary interest in the shares held by Dahl Family Foundation, Inc.
The transaction indicates a continued confidence by insiders in the future of AMREP Corp., as significant purchases by insiders are often regarded as a positive signal by investors. The company's stock performance and future developments will continue to be watched closely by the market following this insider activity.
In other recent news, AMREP Corporation has experienced significant developments in its corporate structure. A major shift was the appointment of Rosenberg Rich Baker Berman, P.A. (RRBB) as its new independent registered public accounting firm for the fiscal year ending April 30, 2025, following the dismissal of Baker Tilly US, LLP. This transition was conducted in compliance with Securities and Exchange Commission regulations, with no reported disagreements or adverse opinions during Baker Tilly's (NYSE:TLYS) tenure.
In addition, AMREP has awarded bonuses and shares to top executives under the AMREP Corporation 2016 Equity Compensation Plan. 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 given a $55,000 cash bonus and 1,890 restricted shares.
These shares are set to vest in three equal installments over the next three years, contingent upon continued employment. Concurrently, AMREP's Board of Directors implemented amendments to the company's Bylaws, described as technical and administrative adjustments. These recent developments highlight the ongoing evolution of AMREP's corporate governance and executive compensation structures.
InvestingPro Insights
The recent insider purchase by James H. Dahl aligns with several positive indicators for AMREP Corp. (NYSE:AXR) highlighted by InvestingPro. The company's stock has shown strong performance, with InvestingPro data revealing a remarkable 75.37% price total return over the past year and a 59.73% return in the last three months. This upward trajectory is further supported by the stock trading near its 52-week high, at 94.53% of that peak.
InvestingPro Tips suggest that AXR is trading at low valuation multiples across various metrics, including EBIT, EBITDA, and revenue. This could indicate that despite the recent price appreciation, there might still be room for growth. The company's financial health appears robust, with InvestingPro noting that AXR holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations.
The company's profitability over the last twelve months, as pointed out by InvestingPro, is reflected in its P/E ratio of 16.68, which is relatively modest considering the strong returns. Additionally, AXR's revenue growth of 24.69% in the last twelve months as of Q1 2025 demonstrates the company's expanding operations, aligning with its focus on land development and real estate.
For investors seeking a deeper understanding of AMREP Corp.'s potential, InvestingPro offers 14 additional tips, providing a comprehensive analysis of the company's financial position and market performance.
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