The RMR Group Inc. (NASDAQ:RMR - Get Rating) - B. Riley boosted their Q1 2023 earnings per share (EPS) estimates for The RMR Group in a research report issued to clients and investors on Thursday, May 12th. B. Riley analyst B. Maher now expects that the financial services provider will post earnings per share of $0.60 for the quarter, up from their previous forecast of $0.50. B. Riley also issued estimates for The RMR Group's Q2 2023 earnings at $0.55 EPS, FY2023 earnings at $2.30 EPS and FY2024 earnings at $2.32 EPS.
Several other research analysts have also recently weighed in on RMR. TheStreet cut shares of The RMR Group from a "b-" rating to a "c+" rating in a research report on Friday, February 4th. Zacks Investment Research upgraded shares of The RMR Group from a "sell" rating to a "hold" rating in a research report on Tuesday, May 10th. StockNews.com upgraded shares of The RMR Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Morgan Stanley dropped their price objective on shares of The RMR Group from $39.00 to $32.00 and set an "equal weight" rating for the company in a research report on Monday, April 25th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The RMR Group has an average rating of "Buy" and a consensus price target of $39.20.
NASDAQ:RMR opened at $28.29 on Monday. The RMR Group has a 1 year low of $26.82 and a 1 year high of $47.12. The firm has a 50 day moving average of $29.47 and a 200-day moving average of $31.89. The stock has a market capitalization of $890.71 million, a P/E ratio of 12.86 and a beta of 1.61. The RMR Group (NASDAQ:RMR - Get Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.09). The RMR Group had a net margin of 5.20% and a return on equity of 8.32%. During the same quarter in the prior year, the firm posted $0.37 earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMR. Two Sigma Advisers LP grew its holdings in shares of The RMR Group by 176.6% in the 3rd quarter. Two Sigma Advisers LP now owns 29,600 shares of the financial services provider's stock valued at $990,000 after buying an additional 18,900 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of The RMR Group by 78.8% in the 3rd quarter. Goldman Sachs Group Inc. now owns 51,056 shares of the financial services provider's stock valued at $1,707,000 after buying an additional 22,496 shares during the period. Citadel Advisors LLC grew its holdings in shares of The RMR Group by 73.0% in the 3rd quarter. Citadel Advisors LLC now owns 391,354 shares of the financial services provider's stock valued at $13,091,000 after buying an additional 165,110 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of The RMR Group in the 3rd quarter valued at $263,000. Finally, SG Americas Securities LLC acquired a new position in shares of The RMR Group in the 3rd quarter valued at $306,000. 42.77% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 19th. Shareholders of record on Monday, April 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date is Friday, April 22nd. This is a positive change from The RMR Group's previous quarterly dividend of $0.38. The RMR Group's payout ratio is currently 72.73%.
About The RMR Group (Get Rating)
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. The company provides management services to its four publicly traded real estate investment trusts and three real estate operating companies. It also provides investment advisory services.
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