The RMR Group Inc. $RMR Stock Sold by Garner Asset Management Corp

Key Points

• Garner Asset Management cut its RMR stake by 20.4% in the third quarter, selling 67,939 shares and ending the period with 264,533 shares valued at about $4.6 million.
• RMR reported quarterly EPS of $0.15, below the $0.16 consensus, while revenue of $153.5 million topped expectations. The company announced a $0.45 quarterly dividend, equivalent to a 10.8% annualized yield; its payout ratio was 157.89%.
• Analysts give RMR a “Moderate Buy” consensus rating and an average price target of $21.33; three analysts rate it Buy and two rate it Hold.

Garner Asset Management Corp lowered its position in The RMR Group Inc. (NASDAQ:RMR - Free Report) by 20.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,533 shares of the financial services provider's stock after selling 67,939 shares during the quarter. The RMR Group makes up about 1.5% of Garner Asset Management Corp's holdings, making the stock its 16th biggest holding. Garner Asset Management Corp owned about 0.82% of The RMR Group worth $4,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of The RMR Group by 76.1% in the 1st quarter. Bank of America Corp DE now owns 941,252 shares of the financial services provider's stock valued at $14,561,000 after purchasing an additional 406,888 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of The RMR Group by 139,802.2% in the 2nd quarter. NewEdge Advisors LLC now owns 64,355 shares of the financial services provider's stock valued at $1,321,000 after purchasing an additional 64,309 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of The RMR Group during the 2nd quarter worth $852,000. Aviance Capital Partners LLC lifted its position in shares of The RMR Group by 41.7% during the 1st quarter. Aviance Capital Partners LLC now owns 90,134 shares of the financial services provider's stock worth $1,394,000 after purchasing an additional 26,536 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of The RMR Group during the 1st quarter worth $636,000. Institutional investors and hedge funds own 42.31% of the company's stock.

The RMR Group Stock Performance

Shares of RMR opened at $16.61 on Wednesday. The stock has a 50 day moving average price of $18.37 and a 200 day moving average price of $18.29. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $532.85 million, a price-to-earnings ratio of 25.00 and a beta of 1.01. The RMR Group Inc. has a 52-week low of $14.73 and a 52-week high of $21.45.

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

The RMR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be issued a $0.45 dividend. The ex-dividend date is Monday, October 19th. This represents a $1.80 annualized dividend and a dividend yield of 10.8%. The RMR Group's dividend payout ratio is presently 157.89%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Maxim Group initiated coverage on shares of The RMR Group in a research note on Friday, October 9th. They set a "buy" rating and a $26.00 target price for the company. Weiss Ratings cut The RMR Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.33.

About The RMR Group

The RMR Group Inc NASDAQ: RMR is an alternative asset management and real estate services company based in Newton, Massachusetts. The company provides management services to public and private real estate companies, including real estate investment trusts (REITs), and focuses on managing properties, portfolios and related investments.

RMR's services include property management, asset management, advisory services, real estate development and other operational support. Its platform covers a range of real estate sectors, including office, healthcare, hospitality, industrial and multifamily properties.

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