Amrep Corp. (NYSE: AXR)

AMREP Corporation is a real estate company engaged in land development and homebuilding activities within the United States. The company acquires develops and sells residential and commercial land and constructs and sells single family homes.

The company generates revenue primarily from the sale of developed residential land, undeveloped land, commercial land, and from the sale of homes it builds. Additionally it earns income from landscaping services and from management fees for homeowners associations and residential rental properties.

The company operates through the following segments: land development and homebuilding.

• The land development segment acquires raw land, obtains necessary entitlements and infrastructure approvals, develops the land into finished lots and sells those lots to builders or directly to consumers.

• The homebuilding segment designs and constructs single family homes on developed lots and sells the completed homes to individual homebuyers.

AMREP Corporation operates in a competitive U. S. residential real estate market alongside national homebuilders and regional land developers. Its competitive advantages include its integrated land development and homebuilding capabilities, control over entitlement processes, and ability to adjust pricing and incentives in response to market conditions.

The company serves individual homebuyers seeking new single family homes, builders and investors purchasing developed land, and residential tenants who lease its owned rental properties.