The RMR Group (NASDAQ:RMR) Trading Down 0.4%

The RMR Group Inc. (NASDAQ:RMR) was down 0.4% during mid-day trading on Thursday . The company traded as low as $22.62 and last traded at $22.88. Approximately 21,572 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 89,253 shares. The stock had previously closed at $22.98.

Analysts Set New Price Targets

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

The RMR Group Trading Up 1.8 %

The firm’s 50-day moving average price is $23.61 and its 200 day moving average price is $24.63. The company has a market capitalization of $746.14 million, a price-to-earnings ratio of 6.80 and a beta of 1.30.

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

The RMR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be given a $0.45 dividend. The ex-dividend date is Friday, April 19th. This is a boost from The RMR Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 7.65%. The RMR Group’s payout ratio is presently 52.02%.

Hedge Funds Weigh In On The RMR Group

A number of institutional investors have recently added to or reduced their stakes in the stock. BayBridge Capital Group LLC acquired a new position in The RMR Group during the 1st quarter worth approximately $411,000. Simplicity Wealth LLC acquired a new position in The RMR Group during the 1st quarter worth approximately $357,000. Allspring Global Investments Holdings LLC increased its position in The RMR Group by 203.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,048 shares of the financial services provider’s stock worth $1,513,000 after purchasing an additional 42,288 shares in the last quarter. Los Angeles Capital Management LLC increased its position in The RMR Group by 29.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 102,827 shares of the financial services provider’s stock worth $2,468,000 after purchasing an additional 23,321 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in The RMR Group by 912.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,665 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 3,303 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

The RMR Group Company Profile

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.