Principal Financial Group Inc. Takes Position in The RMR Group Inc. $RMR

Principal Financial Group Inc. bought a new position in shares of The RMR Group Inc. (NASDAQ:RMR) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,140 shares of the financial services provider’s stock, valued at approximately $636,000. Principal Financial Group Inc. owned approximately 0.13% of The RMR Group as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RMR. Nantahala Capital Management LLC boosted its holdings in The RMR Group by 55.9% in the second quarter. Nantahala Capital Management LLC now owns 1,147,902 shares of the financial services provider’s stock valued at $18,768,000 after purchasing an additional 411,700 shares in the last quarter. Bank of America Corp DE increased its stake in The RMR Group by 435.7% in the second quarter. Bank of America Corp DE now owns 94,663 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 76,991 shares during the last quarter. Federated Hermes Inc. raised its holdings in The RMR Group by 12.1% during the fourth quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider’s stock worth $8,592,000 after purchasing an additional 62,307 shares in the last quarter. Jane Street Group LLC acquired a new stake in The RMR Group during the first quarter worth approximately $988,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of The RMR Group during the 4th quarter worth approximately $671,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RMR has been the subject of several research analyst reports. Weiss Ratings upgraded shares of The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Zacks Research upgraded shares of The RMR Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, The RMR Group presently has an average rating of “Moderate Buy” and an average price target of $19.00.

The RMR Group Stock Down 2.2%

Shares of NASDAQ RMR opened at $19.04 on Friday. The business has a 50-day moving average price of $20.33 and a 200 day moving average price of $18.07. The stock has a market cap of $610.99 million, a PE ratio of 15.74 and a beta of 1.05. The RMR Group Inc. has a 52-week low of $14.27 and a 52-week high of $21.45.

The RMR Group (NASDAQ:RMR) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The RMR Group had a return on equity of 3.44% and a net margin of 3.23%.The firm had revenue of $145.63 million for the quarter, compared to analyst estimates of $171.44 million. Sell-side analysts anticipate that The RMR Group Inc. will post 0.69 earnings per share for the current year.

The RMR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Monday, July 20th. The RMR Group’s payout ratio is presently 148.76%.

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.