The RMR Group (NASDAQ:RMR) Sets New 1-Year High – Here’s What Happened

The RMR Group Inc. (NASDAQ:RMR)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $20.42 and last traded at $20.37, with a volume of 11699 shares trading hands. The stock had previously closed at $20.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research upgraded The RMR Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial dropped their target price on The RMR Group from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings upgraded The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, The RMR Group has an average rating of “Moderate Buy” and an average price target of $19.00.

The RMR Group Trading Up 0.4%

The company has a market capitalization of $650.46 million, a price-to-earnings ratio of 16.75 and a beta of 1.03. The company has a fifty day moving average of $17.35 and a 200-day moving average of $16.42.

The RMR Group (NASDAQ:RMR) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The RMR Group had a return on equity of 3.44% and a net margin of 3.23%.The firm had revenue of $145.63 million during the quarter, compared to analyst estimates of $171.44 million. As a group, equities research analysts expect that The RMR Group Inc. will post 0.69 EPS for the current year.

The RMR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.9%. The ex-dividend date was Tuesday, April 21st. The RMR Group’s payout ratio is presently 148.76%.

Institutional Investors Weigh In On The RMR Group

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in The RMR Group by 313.1% in the 1st quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,124 shares during the last quarter. New York State Common Retirement Fund lifted its stake in The RMR Group by 538.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,660 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,400 shares in the last quarter. Quarry LP purchased a new position in The RMR Group in the 3rd quarter worth approximately $36,000. State of Alaska Department of Revenue purchased a new position in The RMR Group in the 4th quarter worth approximately $41,000. Finally, Strs Ohio purchased a new position in The RMR Group in the 1st quarter worth approximately $50,000. 42.31% of the stock is currently owned by institutional investors and hedge funds.

About The RMR Group

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.