AXR...yep..I thought so

Amrep -- Interesting play on New Mexico real estate; tiny float (122.50 -4.90) : Amrep has been on a tear, running from $45 to $123 in just over 3 months (+170%). We have been getting feedback asking what's the deal. So we thought we'd do some research on it... The co is an odd combination of being a land developer in New Mexico (58% of OctQ revs) and a magazine publisher for wholesalers (42%)... In simple terms, AXR is a play on the booming real estate market in Rio Rancho, New Mexico. The city's website mentions Amrep by name and makes its sound like they own the town, and they kind of do. In the early 1960s, Amrep purchased 55,000 acres of land on the outskirts of Albuquerque and Rio Rancho was born. The co marketed the area to residents in the Midwest and eastern states. In the early 1970's, Amrep purchased and platted an additional 35,000 acres making Rio Rancho Estates 92,000 acres and larger, geographically, than the city of Albuquerque... We did a bit of research on the prospects for Rio Rancho. The city website says Rio Rancho is one of the fastest growing communities in the nation. In just two years, from 2002 to 2004, its population jumped 17% to 62,000... Just for fun, we called a Coldwell Banker office in Rio Rancho. Granted they are trying to sell us and it's just anecdotal, but the woman said the town was growing very fast. For example, she even thought Rio Rancho with its 62K population could grow as large as Albuquerque (800K population) in a few years. Perhaps most amazing is that Rio Rancho is now the third largest city in New Mexico and AXR still owns 18,500 acres (as of Apr 30)... For the six months ended Oct 31, revenue from land sales jumped 237% yr/yr to $64.2 mln. To get a sense of the increase in land prices, the co's average gross margin on land sales increased from 47% a year ago to an eye-popping 70% this year. Granted, some of this was due to the mix of lots sold, but it's a substantial increase. The balance sheet is solid with $103 mln in cash/inv, or $15.50 per share, and no long term debt. Looking at just Rio Rancho (excluding the publishing biz and 160 acres in Colorado), the stock's market cap of $813 mln is valuing Rio Rancho's 18,500 acres at less than $40,000 per acre. There are only 6.6 mln shares outstanding and a 1.8 mln share float with a 50% short interest. Also, assuming we double 1H06 EPS, the p/e is still reasonable at 12.8x. In light of the above, we now see what all the excitement is about. Robert Reid, rreid@briefing.com (PROFX)
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It was reasonably priced at 122 by briefing.com.
 
Quote from HolyGrail:

When you get a 21.5% gain in one day....take it. It doesn't get any better than that.
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Impeccable timing on that one huh? Wow...great call rich.
 
The stock based for 20 years (or perhaps 35 years) depending on your perspective. Somebody endured/accumulated sideways for that span. It wasn't the specialist. And........it wasn't for a scalp.

Price to sales is not in la la land. Insiders STILL own a chunk.

Those holding since 2003, or as recently as early 2006, can weather a 10 to 20 point adverse move and not even flinch due to cushion.

Until you're booked, you're not homefree. 100 shs. Worth dinking with? What's your potential percentage gain?

Hard to borrow? You're not using the right broker.

I see longhorns has crawled out of the woodwork again to lay his pithy eggs of wizdum, only to climb back in, antennae wiggling, satisfied he's made the world a little better place.
 

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Quote from blast19:

Impeccable timing on that one huh? Wow...great call rich.
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It doesn't change my thoughts on it whatsoever. I don't think there are many traders who would hold overnight after a 21.5 percent gain on any stock.
 
Quote from efficiency:

Until you're booked, you're not homefree. 100 shs. Worth dinking with? What's your potential percentage gain?

Hard to borrow? You're not using the right broker.

I see longhorns has crawled out of the woodwork again to lay his pithy eggs of wizdum, only to climb back in, antennae wiggling, satisfied he's made the world a little better place.
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You are such an incredible douche bag. Why do all your posts have such a condescending tone? You're probably a bitter lonely old man who is hated by his own family.
 
Quote from Longhorns:

You are such an incredible douche bag. Why do all your posts have such a condescending tone? You're probably a bitter lonely old man who is hated by his own family.
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Better a douche bag THAN a troll or pop psychologist.

Condescending? At least an inlking of substance in virtually everything I write. This is an exception.


You (and your pseudo mouth) originally approached me. Don't act so god damn surprised. Little man behind a computer screen where there's no repurcussions for being a smart ass, with 1600 increments of drivel. Strikes me as a little void in human interaction Make any money today? Do you even have any open positions?

WHY is it YOU remind me of a padded bra? Is there a nipple in there , OR JUST FOAM????????????????????


If the moderators had a half a wit, they'd confine YOU to chit chat.
 
Quote from efficiency

Better a douche bag THAN a troll or pop psychologist.[/QUOTE]

Happy to see you admit you're a douche bag.

You originally approached me.[/QUOTE]

You hold a grudge worse than a woman....Get over it.


Little man behind a computer screen where there's no repurcussions for being a smart ass.?[/QUOTE]

How thick is the irony?


Make any money today?[/QUOTE]

Slow today....a little less than 2 sticks after commissions. How about you? You want to compare months so far too? :) :p :D :cool: :eek:
 
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