NewEdge Advisors LLC Boosts Position in The RMR Group Inc. $RMR

Key Points

• NewEdge Advisors significantly increased its stake in The RMR Group during the second quarter, purchasing 64,309 additional shares to own 64,355 shares valued at approximately $1.32 million. Institutional investors collectively own 42.31% of the company.
• The RMR Group reported quarterly revenue of $153.51 million, exceeding analyst expectations, but earnings of $0.15 per share fell short of the $0.16 consensus estimate.
• The company’s quarterly dividend of $0.45 per share implies an annualized payout of $1.80 and a 9.6% yield, though its payout ratio is high at 157.89%. Analysts maintain a “Moderate Buy” consensus with a $19 average price target.

NewEdge Advisors LLC boosted its holdings in The RMR Group Inc. (NASDAQ:RMR - Free Report) by 139,802.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,355 shares of the financial services provider's stock after purchasing an additional 64,309 shares during the quarter. NewEdge Advisors LLC owned about 0.20% of The RMR Group worth $1,321,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management boosted its holdings in shares of The RMR Group by 117.7% in the 2nd quarter. Triumph Capital Management now owns 3,052 shares of the financial services provider's stock valued at $63,000 after buying an additional 1,650 shares in the last quarter. State of Wyoming purchased a new position in shares of The RMR Group in the 1st quarter valued at $137,000. DGS Capital Management LLC acquired a new stake in The RMR Group during the 1st quarter worth $184,000. First Trust Advisors LP raised its stake in The RMR Group by 19.1% during the 1st quarter. First Trust Advisors LP now owns 13,411 shares of the financial services provider's stock worth $207,000 after acquiring an additional 2,147 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in The RMR Group by 111.6% in the first quarter. Ritholtz Wealth Management now owns 22,302 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 11,763 shares during the last quarter. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of The RMR Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, The RMR Group has a consensus rating of "Moderate Buy" and an average target price of $19.00.

The RMR Group Price Performance

The RMR Group stock opened at $18.73 on Monday. The stock has a 50 day moving average of $19.65 and a two-hundred day moving average of $18.84. The RMR Group Inc. has a twelve month low of $14.27 and a twelve month high of $21.45. The stock has a market capitalization of $600.86 million, a price-to-earnings ratio of 16.43 and a beta of 1.02. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.06.

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

The RMR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 20th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Monday, July 20th. The RMR Group's dividend payout ratio is currently 157.89%.

The RMR Group Company Profile

The RMR Group Inc is an alternative asset management and property management company based in Newton, Massachusetts. It provides management services to real estate investment trusts (REITs), real estate operating companies and private investment vehicles, with a focus on improving the performance and value of the properties and businesses it oversees.

The company's services include asset management, property management, leasing, acquisition and disposition support, development and redevelopment, accounting, finance, human resources and other corporate functions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.