The RMR Group (NASDAQ:RMR) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

The RMR Group Inc. (NASDAQ:RMR) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.70 and traded as high as $20.79. The RMR Group shares last traded at $20.54, with a volume of 122,514 shares changing hands.

Analyst Upgrades and Downgrades

RMR has been the subject of several recent research reports. Zacks Research raised The RMR Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, B. Riley Financial cut their target price on The RMR Group from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

The RMR Group Stock Up 0.0%

The stock has a market cap of $659.13 million, a PE ratio of 16.98 and a beta of 1.05. The stock’s fifty day moving average price is $19.70 and its 200 day moving average price is $17.35.

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

The RMR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were paid a $0.45 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $1.80 annualized dividend and a dividend yield of 8.8%. The RMR Group’s payout ratio is currently 148.76%.

Institutional Investors Weigh In On The RMR Group

Several institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased 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 in the last quarter. Quarry LP purchased a new stake in shares of The RMR Group during the 3rd quarter valued at about $36,000. State of Alaska Department of Revenue purchased a new stake in shares of The RMR Group during the 4th quarter valued at about $41,000. Tower Research Capital LLC TRC grew its stake in shares of The RMR Group by 442.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 2,513 shares during the period. Finally, Strs Ohio bought a new stake in shares of The RMR Group in the first quarter worth approximately $50,000. 42.31% of the stock is owned by hedge funds and other institutional investors.

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.