The RMR Group (NASDAQ:RMR) Stock Price Down 1.1%

The RMR Group Inc. (NASDAQ:RMR)’s share price fell 1.1% during trading on Wednesday . The stock traded as low as $22.52 and last traded at $22.59. 13,652 shares were traded during mid-day trading, a decline of 85% from the average session volume of 89,207 shares. The stock had previously closed at $22.83.

Analysts Set New Price Targets

Several brokerages have commented on RMR. TheStreet upgraded shares of The RMR Group from a “c+” rating to a “b-” rating in a research note on Tuesday, January 2nd. StockNews.com lowered shares of The RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, JMP Securities began coverage on shares of The RMR Group in a research note on Friday, April 19th. They issued a “market perform” rating on the stock.

The RMR Group Price Performance

The firm has a market capitalization of $732.82 million, a PE ratio of 6.68 and a beta of 1.30. The business’s 50-day moving average price is $23.63 and its 200-day moving average price is $24.63.

The RMR Group (NASDAQ:RMR) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $261.67 million for the quarter, compared to analyst estimates of $223.18 million. The RMR Group had a net margin of 5.93% and a return on equity of 7.78%. Equities analysts forecast that The RMR Group Inc. will post 1.92 earnings per share for the current year.

The RMR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, April 19th. This is a positive change from The RMR Group’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.79%. The RMR Group’s dividend payout ratio (DPR) is 52.02%.

Hedge Funds Weigh In On The RMR Group

A number of hedge funds have recently modified their holdings of RMR. Wasatch Advisors LP grew its position in The RMR Group by 24.3% in the 4th quarter. Wasatch Advisors LP now owns 365,730 shares of the financial services provider’s stock valued at $10,325,000 after buying an additional 71,549 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in The RMR Group by 203.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,048 shares of the financial services provider’s stock valued at $1,513,000 after buying an additional 42,288 shares during the last quarter. Islay Capital Management LLC purchased a new position in The RMR Group in the 4th quarter valued at $1,184,000. Charles Schwab Investment Management Inc. grew its position in The RMR Group by 19.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,218 shares of the financial services provider’s stock valued at $6,753,000 after buying an additional 39,270 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in The RMR Group by 66.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 79,506 shares of the financial services provider’s stock valued at $2,244,000 after buying an additional 31,645 shares during the last quarter. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

About The RMR Group

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.