The RMR Group Inc. $RMR Stock: Garner Asset Management Corp Decreases Holdings

Garner Asset Management Corp decreased its position in shares of The RMR Group Inc. (NASDAQ:RMR) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 264,533 shares of the financial services provider’s stock after selling 67,939 shares during the quarter. The RMR Group makes up approximately 1.5% of Garner Asset Management Corp’s portfolio, making the stock its 16th largest holding. Garner Asset Management Corp’s holdings in The RMR Group were worth $4,587,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RMR. Triumph Capital Management increased its position in shares of The RMR Group by 36.3% during the third quarter. Triumph Capital Management now owns 4,159 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,107 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of The RMR Group by 189.4% in the 3rd quarter. Signaturefd LLC now owns 3,180 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 2,081 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of The RMR Group by 19.1% in the 1st quarter. First Trust Advisors LP now owns 13,411 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 2,147 shares during the last quarter. Inspire Investing LLC boosted its position in shares of The RMR Group by 6.9% in the 3rd quarter. Inspire Investing LLC now owns 35,122 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 2,273 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of The RMR Group by 9.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,060 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 2,526 shares during the period. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Maxim Group began coverage on The RMR Group in a research note on Friday, October 9th. They set a “buy” rating and a $26.00 price target on the stock. Weiss Ratings lowered The RMR Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, The RMR Group presently has an average rating of “Moderate Buy” and an average target price of $21.33.

The RMR Group Stock Performance

Shares of The RMR Group stock opened at $16.61 on Wednesday. The firm’s fifty day simple moving average is $18.37 and its 200-day simple moving average is $18.29. The RMR Group Inc. has a 12 month low of $14.73 and a 12 month high of $21.45. The stock has a market capitalization of $532.85 million, a price-to-earnings ratio of 25.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.24 and a quick ratio of 0.24.

The RMR Group (NASDAQ:RMR) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The RMR Group had a return on equity of 2.96% and a net margin of 3.10%. The business had revenue of $153.51 million for the quarter, compared to analyst estimates of $147.60 million. As a group, equities analysts forecast that The RMR Group Inc. will post 0.63 earnings per share for the current year.

The RMR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, October 19th will be paid a $0.45 dividend. The ex-dividend date is Monday, October 19th. This represents a $1.80 dividend on an annualized basis and a yield of 10.8%. The RMR Group’s payout ratio is currently 157.89%.

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.