AXR... Amrep Corporation - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**Aufan 1983** · #1 10-09-2007, 10:10 AM

This play may not be for everyone but for those like me that don't mind rolling the dice here it is. I bought in for 200 shares this morning @ 35.90.

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AMREP Corporation Reports Completion of Share Repurchase Program and Announces Additional Share Repurchase Program
Monday October 8, 8:00 am ET

PRINCETON, N.J., Oct. 8 /PRNewswire-FirstCall/ -- AMREP Corporation (NYSE: AXR - News) today reported that it has completed its 500,000 share Common Stock repurchase program announced on July 16, 2007, reducing its number of outstanding shares to 6,153,612. The 500,000 shares were purchased in open market transactions for a total purchase price, including commissions, of $15,933,000, or an average of $31.87 per share.
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The Company also announced that its Board of Directors has authorized the repurchase of up to an additional 500,000 shares of its outstanding common stock. The purchases may be made from time-to-time either in the open market or through negotiated private transactions with non-affiliates of the Company. The timing and actual number of shares repurchased will depend on a variety of factors including price, alternative investment opportunities and other market conditions, and no assurance can be given as to whether there will be any further repurchases or the extent or the time period over which they may occur. The Company expects to fund these share purchases from internally generated cash or from borrowings. The 500,000 additional shares authorized for repurchase represent approximately 8.1 % of the 6,153,612 shares of the Company's common stock that are currently outstanding.

AMREP Corporation's AMREP Southwest Inc. subsidiary is a major landholder and leading developer of real estate in Rio Rancho, New Mexico, and its Kable Media Services, Inc. subsidiary distributes magazines to wholesalers and provides subscription fulfillment and related services to publishers and others.
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**BadThad** · #2 10-09-2007, 11:12 AM

Nice buy in price....I'm watching. Good to see you playing all these big boards bro! You know I love these!

**BadThad** · #3 10-09-2007, 11:15 AM

Couldn't resist, me likey....I'm in for 150 with ya bro!

**BadThad** · #4 10-09-2007, 04:05 PM

Great EOD! :D How come more people don't listen to us? LOL

**BadThad** · #5 10-09-2007, 04:16 PM

Did you notice they paid $1 divy last quarter? I might just hold this stock for 20 years with that!

**Aufan 1983** · #6 10-09-2007, 07:32 PM

Quote:

Originally Posted by BadThad

Did you notice they paid $1 divy last quarter? I might just hold this stock for 20 years with that!

Very nice and check out todays filing. They plan to buy back another 500k shares.......:D :D Bloomberg.com shows the O/S as only 6.65 million and the float at only 1.865 million.

Here is todays filing:

Form 8-K for AMREP CORP.

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9-Oct-2007

Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.
In a press release dated October 8, 2007, the Registrant announced completion of its 500,000 share common stock repurchase program announced on July 16, 2007. The Registrant also announced that, on October 5, 2007, its Board of Directors authorized an additional 500,000 share common stock repurchase program. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

**BadThad** · #7 10-10-2007, 08:39 AM

Quote:

float at only 1.865 million.

That's insanely low!

**BadThad** · #8 10-16-2007, 03:21 PM

Whoa, this has been a dog thus far. I think the screwed up housing market is holding it back. Wonder if it will ever return to it's glory days of over $100 pps?