- AMREP is a major land owner in the city of Rio Rancho, New Mexico, owning over 18,000 acres of land with a book value of $60 million.
- AMREP recently launched a homebuilding subsidiary which will help unlock the massive land bank the Company owns and provide incremental cash flows for years to come.
- In addition to the land, AMREP owns over $24 million of hidden assets currently listed for sale representing over two-thirds of the enterprise value.
- The Company has recently repurchased over 10% of the shares outstanding. As additional hidden assets are sold, I expect further shareholder-friendly events.
- My price target is $11.16 per share representing a 90% upside from the current price with a large margin of safety given the clean balance sheet and real asset ownership.
For further details see:
AMREP: Over 90% Upside With $24 Million In Hidden Assets Held For Sale And New Homebuilding Unit