The RMR Group (NASDAQ:RMR) Stock Price Up 1.6%

Shares of The RMR Group Inc. (NASDAQ:RMR) were up 1.6% during mid-day trading on Wednesday . The stock traded as high as $24.11 and last traded at $24.09. Approximately 13,071 shares were traded during trading, a decline of 85% from the average daily volume of 90,128 shares. The stock had previously closed at $23.72.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMR. StockNews.com downgraded shares of The RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. TheStreet raised The RMR Group from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. Finally, JMP Securities initiated coverage on shares of The RMR Group in a research note on Friday, April 19th. They set a “market perform” rating for the company.

The RMR Group Price Performance

The company has a market capitalization of $763.58 million, a PE ratio of 6.96 and a beta of 1.30. The company’s fifty day moving average is $23.58 and its 200-day moving average is $24.64.

The RMR Group (NASDAQ:RMR) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $261.67 million for the quarter, compared to analyst estimates of $223.18 million. The RMR Group had a net margin of 5.93% and a return on equity of 7.78%. Equities research analysts forecast that The RMR Group Inc. will post 1.92 EPS for the current fiscal year.

The RMR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.48%. This is a positive change from The RMR Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, April 19th. The RMR Group’s dividend payout ratio is presently 52.02%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RMR. Wasatch Advisors LP boosted its position in The RMR Group by 24.3% during the fourth quarter. Wasatch Advisors LP now owns 365,730 shares of the financial services provider’s stock worth $10,325,000 after purchasing an additional 71,549 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in The RMR Group by 203.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,048 shares of the financial services provider’s stock valued at $1,513,000 after purchasing an additional 42,288 shares in the last quarter. Islay Capital Management LLC purchased a new stake in shares of The RMR Group during the fourth quarter worth $1,184,000. Charles Schwab Investment Management Inc. raised its position in shares of The RMR Group by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,218 shares of the financial services provider’s stock valued at $6,753,000 after buying an additional 39,270 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of The RMR Group by 66.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 79,506 shares of the financial services provider’s stock worth $2,244,000 after buying an additional 31,645 shares in the last quarter. 42.31% of the stock is owned by institutional investors and hedge funds.

About The RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides asset management services in the United States. The company offers management services to its four publicly traded real estate investment trusts, three real estate operating companies, and private capital vehicles. It also provides advisory services to publicly traded mortgage real estate investment trust.