The RMR Group Inc. (NASDAQ:RMR – Get Free Report)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $20.58 and last traded at $20.4550, with a volume of 30940 shares traded. The stock had previously closed at $20.36.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on RMR. Zacks Research raised The RMR Group from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. B. Riley Financial lowered their price target on The RMR Group from $24.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Weiss Ratings raised The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.
Read Our Latest Analysis on The RMR Group
The RMR Group Trading Down 0.2%
The RMR Group (NASDAQ:RMR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. The business had revenue of $145.63 million during the quarter, compared to analyst estimates of $171.44 million. On average, sell-side analysts predict that The RMR Group Inc. will post 0.69 EPS for the current year.
The RMR Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were given a $0.45 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.9%. The RMR Group’s dividend payout ratio (DPR) is currently 148.76%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in The RMR Group by 313.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,124 shares in the last quarter. New York State Common Retirement Fund increased its position in The RMR Group by 538.5% during the 3rd quarter. New York State Common Retirement Fund now owns 1,660 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,400 shares in the last quarter. Quarry LP purchased a new stake in The RMR Group during the 3rd quarter worth about $36,000. State of Alaska Department of Revenue purchased a new stake in The RMR Group during the 4th quarter worth about $41,000. Finally, Tower Research Capital LLC TRC increased its position in The RMR Group by 442.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 2,513 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.
About The RMR Group
The RMR Group, Inc (NASDAQ: RMR) is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.
Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.
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