The RMR Group Inc. (NASDAQ:RMR) Shares Acquired by Garner Asset Management Corp

Garner Asset Management Corp grew its stake in shares of The RMR Group Inc. (NASDAQ:RMR - Free Report) by 29.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 417,999 shares of the financial services provider's stock after buying an additional 96,315 shares during the period. The RMR Group makes up 3.1% of Garner Asset Management Corp's investment portfolio, making the stock its 4th biggest holding. Garner Asset Management Corp owned about 1.31% of The RMR Group worth $6,960,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Martingale Asset Management L P grew its stake in The RMR Group by 1.0% during the fourth quarter. Martingale Asset Management L P now owns 68,911 shares of the financial services provider's stock worth $1,422,000 after buying an additional 662 shares during the last quarter. Stifel Financial Corp grew its stake in The RMR Group by 1.2% during the fourth quarter. Stifel Financial Corp now owns 66,184 shares of the financial services provider's stock worth $1,366,000 after buying an additional 771 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in The RMR Group by 2.2% during the first quarter. Linden Thomas Advisory Services LLC now owns 48,038 shares of the financial services provider's stock worth $800,000 after buying an additional 1,056 shares during the last quarter. American Century Companies Inc. grew its stake in shares of The RMR Group by 4.7% during the fourth quarter. American Century Companies Inc. now owns 31,993 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of The RMR Group by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,205 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 2,010 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley began coverage on shares of The RMR Group in a research note on Tuesday, April 22nd. They set a "buy" rating and a $24.00 price target on the stock.

The RMR Group Trading Down 0.9%

RMR traded down $0.15 during mid-day trading on Friday, hitting $16.77. The stock had a trading volume of 26,519 shares, compared to its average volume of 153,045. The stock's fifty day simple moving average is $16.24 and its 200-day simple moving average is $16.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $534.42 million, a price-to-earnings ratio of 13.83 and a beta of 1.13. The RMR Group Inc. has a 1-year low of $13.48 and a 1-year high of $26.43.

The RMR Group (NASDAQ:RMR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). The RMR Group had a return on equity of 5.35% and a net margin of 2.51%. The company had revenue of $166.67 million for the quarter, compared to analyst estimates of $214.10 million. As a group, research analysts forecast that The RMR Group Inc. will post 1.51 EPS for the current fiscal year.

The RMR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, July 21st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 10.74%. The ex-dividend date of this dividend is Monday, July 21st. The RMR Group's dividend payout ratio (DPR) is currently 148.76%.

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.