AMREP Corporation (AXR)

Over the past six months, AMREP Corp.'s stock has experienced a decline of 5.92%. In December 2025, AMREP reported a decrease in net income for its fiscal second quarter, leading to an 8.4% stock dip. In September 2025, AMREP reported net income for its fiscal first quarter. In October 2025, the company's assets were noted as being well-positioned to benefit from future rate cuts. AMREP's shares have lagged behind the broader US Real Estate industry and the US market over the past year, with profitability tied to the timing and mix of real estate sales, leading to volatile revenue.

Demand seasonality for AMREP Corp.'s products and services is influenced by the cyclical nature of the real estate market. The company's profitability is tied to the timing and mix of its real estate sales, which makes revenue volatile. Affordability challenges, higher mortgage rates, and inflationary pressures have negatively impacted housing affordability and demand. Delays in municipal entitlements have also impacted the timing and realization of revenues.

AMREP Corporation is a real estate company operating in the United States through Land Development and Homebuilding. The Land Development segment provides land and site planning, governmental and environmental approvals, utility installation, and road construction, also acquiring land and selling lots. The Homebuilding segment operates as a homebuilder in New Mexico, offering various home floor plans. Founded in 1961, AMREP has been listed on the New York Stock Exchange since 1972.

AMREP Corporation's primary geographic focus is in New Mexico, specifically in the Rio Rancho area of Sandoval County, where it holds a land bank of approximately 16,600 acres. Its corporate headquarters are located in Havertown, Pennsylvania.

AMREP has been described as a disciplined real estate developer maximizing asset value, with its long-term value tied to its land inventory in New Mexico. The company has faced turbulent macroeconomic conditions, including rising rates and housing affordability issues, as well as delays in municipal entitlements. Despite challenges, AMREP has demonstrated resilient growth and profitability, with a strong land segment gross margin.

Ownership of AMREP Corp. is concentrated among a few large holders, with institutional investors holding a substantial portion of the shares. As of November 2025, institutional investors held nearly 59.85% of the stock. As of July 21, 2025, three shareholders beneficially owned approximately 51% of the outstanding common stock. Nick G. Karabots is the single largest individual shareholder, holding 44.88% of the shares. Insider ownership in AMREP is approximately 42%.