<SEC-DOCUMENT>0001104659-25-069347.txt : 20250721
<SEC-HEADER>0001104659-25-069347.hdr.sgml : 20250721
<ACCEPTANCE-DATETIME>20250721164609
ACCESSION NUMBER:		0001104659-25-069347
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250717
FILED AS OF DATE:		20250721
DATE AS OF CHANGE:		20250721

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Uleau Adrienne
		CENTRAL INDEX KEY:			0001809912
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04702
		FILM NUMBER:		251137747

	MAIL ADDRESS:	
		STREET 1:		1142 MYRTLEWOOD AVE
		CITY:			HAVERTOWN
		STATE:			PA
		ZIP:			19083

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMREP CORP.
		CENTRAL INDEX KEY:			0000006207
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				590936128
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			0430

	BUSINESS ADDRESS:	
		STREET 1:		850 WEST CHESTER PIKE
		STREET 2:		SUITE 205
		CITY:			HAVERTOWN
		STATE:			PA
		ZIP:			19083
		BUSINESS PHONE:		610-487-0905

	MAIL ADDRESS:	
		STREET 1:		850 WEST CHESTER PIKE
		STREET 2:		SUITE 205
		CITY:			HAVERTOWN
		STATE:			PA
		ZIP:			19083

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMREP CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN REALTY & PETROLEUM CORP
		DATE OF NAME CHANGE:	19671019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2521169-2_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-07-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000006207</issuerCik>
        <issuerName>AMREP CORP.</issuerName>
        <issuerTradingSymbol>AXR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001809912</rptOwnerCik>
            <rptOwnerName>Uleau Adrienne</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AMREP CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>850 WEST CHESTER PIKE, SUITE 205</rptOwnerStreet2>
            <rptOwnerCity>HAVERTOWN</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19083</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CFO And VP</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2025-07-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2100</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8324</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Grant of restricted stock under the AMREP Corporation 2016 Equity Compensation Plan. The restricted stock will vest as follows: 700 shares on July 17, 2026, 700 shares on July 17, 2027 and 700 shares on July 17, 2028, subject to the continued employment of Ms. Uleau by AMREP Corporation on each vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Adrienne M. Uleau</signatureName>
        <signatureDate>2025-07-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
