Hotchkis & Wiley Capital Management LLC Reduces Stock Position in The RMR Group Inc. $RMR

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in The RMR Group by 23.4%, now holding 676,440 shares valued at approximately $11.26 million.
• Despite the decrease by Hotchkis & Wiley, other hedge funds such as Nantahala Capital Management LLC and Garner Asset Management Corp increased their holdings in The RMR Group by 32.8% and 29.9% respectively.
• The RMR Group recently announced a quarterly dividend of $0.45 per share, reflecting a notable annualized yield of 10.5%.

Hotchkis & Wiley Capital Management LLC reduced its holdings in shares of The RMR Group Inc. (NASDAQ:RMR - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 676,440 shares of the financial services provider's stock after selling 207,040 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 2.12% of The RMR Group worth $11,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC increased its stake in shares of The RMR Group by 131.3% in the first quarter. AlphaQuest LLC now owns 2,406 shares of the financial services provider's stock worth $40,000 after purchasing an additional 1,366 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of The RMR Group by 4.3% in the first quarter. Martingale Asset Management L P now owns 71,895 shares of the financial services provider's stock worth $1,197,000 after purchasing an additional 2,984 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of The RMR Group by 336.4% in the first quarter. Quantbot Technologies LP now owns 13,279 shares of the financial services provider's stock worth $221,000 after purchasing an additional 10,236 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The RMR Group in the first quarter worth $787,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in The RMR Group during the first quarter valued at $236,000. 42.31% of the stock is owned by hedge funds and other institutional investors.

The RMR Group Price Performance

RMR traded up $0.19 during trading on Friday, hitting $16.90. 17,515 shares of the company traded hands, compared to its average volume of 144,289. The company has a market cap of $538.44 million, a PE ratio of 14.44 and a beta of 1.15. The stock's 50-day simple moving average is $16.75 and its two-hundred day simple moving average is $16.34. The RMR Group Inc. has a 1 year low of $13.48 and a 1 year high of $26.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.11.

The RMR Group (NASDAQ:RMR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The RMR Group had a net margin of 2.56% and a return on equity of 5.01%. The company had revenue of $154.73 million during the quarter, compared to analysts' expectations of $201.80 million. As a group, sell-side analysts anticipate that The RMR Group Inc. will post 1.51 earnings per share for the current fiscal year.

The RMR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend was Monday, July 21st. The RMR Group's dividend payout ratio (DPR) is presently 153.85%.

The RMR Group 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.