2024-05-31 11:36:24 ET
Summary
- AMREP Corporation owns a significant amount of land in Rio Rancho, New Mexico, positioning them to benefit from population growth in the area.
- The company has, to an extent, control over the rate at which subdivisions and building projects are developed, providing price protection.
- Rio Rancho is experiencing a growing population due to Albuquerque's very limited ability to expand.
AMREP Corporation ( AXR ) is in my opinion, a BUY based on its assets. The company owns over 16,000 acres of land in Sandoval County, New Mexico. It sells this land to various homebuilders who in turn build mostly subdivisions. AMREP also builds houses and commercial buildings on some of this land through its homebuilding subsidiaries, usually as a way of better extracting value from its non-contingent pieces of property....
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Long-Term Growth Prospects On AMREP's Assets