The RMR Group Inc. (NASDAQ:RMR - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.92 and last traded at $19.62, with a volume of 295573 shares. The stock had previously closed at $19.50.
Analysts Set New Price Targets
RMR has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH started coverage on shares of The RMR Group in a report on Wednesday, January 7th. They set a "buy" rating and a $17.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of The RMR Group in a research report on Monday. Zacks Research upgraded The RMR Group from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Finally, B. Riley Financial reduced their target price on The RMR Group from $24.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.
View Our Latest Analysis on The RMR Group
The RMR Group Stock Performance
The firm has a market cap of $629.02 million, a P/E ratio of 14.22 and a beta of 1.03. The business's 50-day simple moving average is $16.50 and its 200 day simple moving average is $15.96.
The RMR Group (NASDAQ:RMR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $145.63 million for the quarter, compared to the consensus estimate of $171.44 million. The RMR Group had a net margin of 3.52% and a return on equity of 4.03%. As a group, equities research analysts expect that The RMR Group Inc. will post 0.74 EPS for the current year.
The RMR Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a $1.80 dividend on an annualized basis and a yield of 9.2%. The RMR Group's dividend payout ratio is currently 130.43%.
Institutional Investors Weigh In On The RMR Group
A number of large investors have recently made changes to their positions in the company. Nantahala Capital Management LLC increased its position in shares of The RMR Group by 55.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,147,902 shares of the financial services provider's stock valued at $18,768,000 after purchasing an additional 411,700 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of The RMR Group by 435.7% in the second quarter. Bank of America Corp DE now owns 94,663 shares of the financial services provider's stock worth $1,548,000 after buying an additional 76,991 shares during the last quarter. Federated Hermes Inc. grew its position in The RMR Group by 12.1% during the fourth quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider's stock valued at $8,592,000 after buying an additional 62,307 shares during the period. Jane Street Group LLC bought a new stake in The RMR Group during the first quarter valued at approximately $988,000. Finally, GSA Capital Partners LLP purchased a new stake in The RMR Group during the third quarter valued at approximately $801,000. 42.31% of the stock is currently owned by institutional investors.
About The RMR Group
(
Get Free Report)
The RMR Group, Inc NASDAQ: RMR is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.
Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.
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