Welcome to our dedicated page for AMREP SEC filings (Ticker: AXR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
AMREP Corporation filings document financial results, real estate operations, governance matters and financing arrangements for its land development and homebuilding business. Periodic reports and related earnings 8-Ks describe revenue, net income, land sales, home sales, gross margins and risk factors tied to the timing, type and location of real estate transactions.
The company’s SEC record also includes disclosures on material definitive agreements, including subsidiary credit arrangements, and proxy materials covering director elections, executive compensation advisory votes, auditor ratification and shareholder voting results. Governance filings address board composition, common-stock voting matters and other public-company reporting obligations.
AMREP Corporation reported governance changes and a new board member. The board appointed Timothy S. McNaney, effective January 27, 2026, as a Class III director, expanding the board from four to five members and amending its bylaws to reflect the new size. The company also ended its policy that each non-employee director is expected to hold at least 30,000 shares of AMREP common stock.
McNaney, age 56, co-founded Twilight Homes of New Mexico, LLC and served as its co-President from 2003 until his retirement in July 2025. His background in homebuilding, land development, and New Mexico real estate underpins the board’s view of his qualifications. He is not currently expected to serve on any board committees.
AMREP Corp. director Albert Russo reported a grant of deferred stock units. On 12/31/2025, he acquired 1,595 deferred stock units with a conversion price of $0, each representing one share of AMREP Corp. common stock, $.10 par value. Following this grant, he beneficially owned 24,408.56 derivative securities in total.
The deferred stock units vest immediately upon grant. The underlying common shares will be distributed within 30 days after the first day of the month following Russo’s termination of service as a director, providing equity-based compensation that is settled when his board service ends.
AMREP Corp. director reports deferred stock unit grant
A director of AMREP Corp. (AXR), Edward B. Cloues II, reported a grant of 1,595 deferred stock units on 12/31/2025. These units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of AMREP common stock.
The shares underlying the units will be distributed within 30 days after the first day of the month following the director’s termination of service on the board. Following this transaction, the reporting person beneficially holds 24,408.56 derivative securities related to AMREP stock in direct ownership.
AMREP Corp. director reports new deferred stock unit grant. On 12/31/2025, a director of AMREP Corp. (AXR) was awarded 1,595 deferred stock units at an exercise price of $0 per unit. These units vest immediately upon grant and each unit represents the right to receive one share of AMREP common stock.
The shares underlying the units will be delivered in stock within 30 days after the first day of the month following the director’s termination of service on the board. After this grant, the director beneficially owns 23,195.63 derivative securities in the form of deferred stock units, held directly.
AMREP Corporation filed a current report to let investors know it has released updated financial information. On December 12, 2025, the company issued a press release reporting its results of operations for the three and six month periods ended October 31, 2025.
The press release is furnished as Exhibit 99.1 to this report and is incorporated by reference. AMREP notes that this information is being furnished rather than filed under securities laws. The report is signed on behalf of the company by Adrienne M. Uleau, its Chief Financial Officer and Vice President.
AMREP Corporation reported weaker results for the quarter ended October 31, 2025, as land sales slowed sharply. Total revenues were $9.4 million, down from $11.9 million a year earlier, and net income fell to $1.2 million (diluted EPS $0.22) from $4.0 million (diluted EPS $0.75). For the first six months, revenues declined to $27.3 million from $31.0 million, with net income dropping to $5.9 million from $8.1 million, driven mainly by significantly lower land sale revenues.
Home sale revenues grew, but were offset by reduced volumes of high-margin land sales and higher general and administrative costs. Management cites entitlement and infrastructure delays, elevated construction costs, and affordability pressures from higher home prices and mortgage rates, and it has responded with price reductions, incentives, smaller products, more leasing of completed homes, and a slower pace of development.
The company remains very lightly levered, with $45.1 million in cash, cash equivalents and restricted cash and only $23,000 of notes payable. It also extended and upsized its revolving credit facility to a $6.5 million maximum, maturing in August 2028, and expects lower revenues from developed residential land sales in fiscal 2026 compared to 2025.
AMREP Corporation reported the results of its 2025 annual shareholder meeting. Shareholders representing 4,590,015 shares of common stock out of 5,305,949 shares outstanding and entitled to vote were present in person or by proxy.
Shareholders elected Robert E. Robotti as a Class II director to serve until the 2028 annual meeting, with 2,990,325 votes for, 283,517 withheld, and 1,316,173 broker non-votes. They also approved, on an advisory basis, the compensation of the company’s named executive officers, with 3,118,485 votes for, 153,688 against, 1,669 abstentions, and 1,316,173 broker non-votes.
Shareholders ratified the appointment of Rosenberg Rich Baker Berman, P.A. as independent registered public accounting firm for the year ended April 30, 2026, with 4,522,408 votes for, 50,991 against, and 16,616 abstentions. In addition, in an advisory vote on the frequency of future say-on-pay votes, holders favored a one-year schedule, and the board decided to hold the advisory vote on executive compensation every year.
AMREP Corporation furnished an update on its financial performance by submitting a press release that reports results of operations for the three-month period ended July 31, 2025. The press release, dated September 9, 2025, is attached as Exhibit 99.1 and incorporated by reference for detailed quarterly results.
AMREP Corporation reported net income of $4.7 million, or $0.87 per diluted share, for the quarter ended July 31 2025, up from $4.1 million, or $0.76, a year earlier. Total revenues were $17.9 million versus $19.1 million, as lower land sales were partly offset by higher home sales.
Land sale revenues decreased to $7.5 million from $9.3 million, while home sale revenues rose to $9.6 million from $9.0 million. Land sale gross margin expanded to 69% from 48%, helped by reimbursements, mix and pricing. General and administrative expenses increased to $1.8 million.
Cash, cash equivalents and restricted cash grew to $49.4 million at July 31 2025 from $39.9 million at April 30 2025, with operating activities providing $9.5 million of cash. Real estate inventory was $64.8 million and investment assets were $15.9 million. Notes payable were $25,000, and a revolving credit facility with BOKF was amended in August 2025 to increase borrowing capacity to $6.5 million and extend maturity to August 15 2028.
AMREP Corporation disclosed two contract exhibits showing changes to its borrowing arrangements for a subsidiary. The filing attaches a Seventh Modification Agreement and a Second Amended and Restated Revolving Line of Credit Promissory Note, each dated August 15, 2025, between BOKF, NA dba Bank of Albuquerque and AMREP Southwest Inc.. No financial terms, credit amounts, covenants, or repayment schedules are disclosed in the provided text. The items indicate an update to the revolving credit documentation for the subsidiary but contain no numerical performance metrics or balance-sheet figures.