Panagora Asset Management Inc. reduced its position in shares of RMR Group Inc (NASDAQ:RMR) by 18.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,457 shares of the financial services provider’s stock after selling 5,776 shares during the period. Panagora Asset Management Inc. owned approximately 0.08% of RMR Group worth $1,196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in RMR Group by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 373,780 shares of the financial services provider’s stock valued at $19,841,000 after purchasing an additional 5,667 shares in the last quarter. Monashee Investment Management LLC bought a new stake in shares of RMR Group during the second quarter worth $7,987,000. Prudential Financial Inc. grew its stake in shares of RMR Group by 65.5% during the second quarter. Prudential Financial Inc. now owns 114,043 shares of the financial services provider’s stock worth $5,358,000 after buying an additional 45,139 shares during the last quarter. Royce & Associates LP grew its stake in shares of RMR Group by 21.1% during the first quarter. Royce & Associates LP now owns 106,048 shares of the financial services provider’s stock worth $6,467,000 after buying an additional 18,508 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of RMR Group by 80.7% during the first quarter. Marshall Wace LLP now owns 96,733 shares of the financial services provider’s stock worth $5,899,000 after buying an additional 43,212 shares during the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.
A number of analysts have weighed in on the stock. Citigroup assumed coverage on shares of RMR Group in a research note on Wednesday, September 4th. They set a “neutral” rating and a $46.00 target price on the stock. ValuEngine cut shares of RMR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Zacks Investment Research cut shares of RMR Group from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. B. Riley decreased their target price on shares of RMR Group from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, CIBC raised shares of RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $55.50.
Shares of RMR Group stock traded down $0.19 during trading on Thursday, hitting $47.52. The company’s stock had a trading volume of 2,765 shares, compared to its average volume of 120,977. RMR Group Inc has a 52 week low of $41.69 and a 52 week high of $97.55. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 20.54 and a beta of 1.22. The stock has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $53.84.
RMR Group (NASDAQ:RMR) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The business had revenue of $143.72 million during the quarter, compared to the consensus estimate of $133.10 million. RMR Group had a return on equity of 15.50% and a net margin of 12.02%. Analysts predict that RMR Group Inc will post 4.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 29th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.40 annualized dividend and a yield of 2.95%. RMR Group’s payout ratio is 60.09%.
In related news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $40.00, for a total value of $105,496,320.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 55.10% of the stock is owned by insiders.
About RMR Group
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.
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