Bank of America Corp DE Grows Position in The RMR Group Inc. $RMR

Key Points

• Bank of America increased its RMR Group stake by 76.1% in the first quarter, holding 941,252 shares worth approximately $14.6 million, or 2.93% of the company. Institutional investors collectively own 42.31% of RMR.
• Analysts maintain a cautiously positive outlook, with a consensus rating of “Moderate Buy” and a $19 price target, despite RMR’s latest quarterly EPS of $0.15 falling short of the $0.16 estimate.
• RMR declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 9.0% yield; its payout ratio is elevated at 157.89%.

Bank of America Corp DE boosted its stake in The RMR Group Inc. (NASDAQ:RMR - Free Report) by 76.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 941,252 shares of the financial services provider's stock after purchasing an additional 406,888 shares during the quarter. Bank of America Corp DE owned about 2.93% of The RMR Group worth $14,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RMR. NewEdge Advisors LLC lifted its position in shares of The RMR Group by 313.1% in the first quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider's stock worth $25,000 after buying an additional 1,124 shares in the last quarter. Quarry LP purchased a new position in shares of The RMR Group in the 3rd quarter worth $36,000. State of Alaska Department of Revenue purchased a new position in shares of The RMR Group in the 4th quarter worth $41,000. Tower Research Capital LLC TRC increased its holdings in shares of The RMR Group by 442.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider's stock worth $50,000 after buying an additional 2,513 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of The RMR Group during the 1st quarter valued at about $50,000. Institutional investors own 42.31% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised The RMR Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, The RMR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

The RMR Group Stock Performance

Shares of NASDAQ:RMR opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.24 and a quick ratio of 0.24. The business's 50 day moving average price is $20.11 and its 200-day moving average price is $18.46. The RMR Group Inc. has a 1 year low of $14.27 and a 1 year high of $21.45. The firm has a market capitalization of $641.60 million, a PE ratio of 17.54 and a beta of 1.05.

The RMR Group (NASDAQ:RMR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $153.51 million for the quarter, compared to analyst estimates of $147.60 million. The RMR Group had a return on equity of 2.96% and a net margin of 3.10%. As a group, equities research analysts expect that The RMR Group Inc. will post 0.63 earnings per share for the current fiscal year.

The RMR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 20th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.80 dividend on an annualized basis and a yield of 9.0%. The RMR Group's dividend payout ratio (DPR) is presently 157.89%.

The RMR Group Profile

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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