State Street Corp Trims Position in RMR Group Inc (NASDAQ:RMR)

State Street Corp cut its holdings in shares of RMR Group Inc (NASDAQ:RMR) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 300,639 shares of the financial services provider’s stock after selling 3,201 shares during the period. State Street Corp owned 0.96% of RMR Group worth $8,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RMR. Geode Capital Management LLC increased its holdings in RMR Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 322,826 shares of the financial services provider’s stock worth $14,732,000 after purchasing an additional 9,642 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of RMR Group by 26.8% during the fourth quarter. Nuveen Asset Management LLC now owns 297,740 shares of the financial services provider’s stock worth $13,589,000 after buying an additional 62,908 shares during the last quarter. Norges Bank purchased a new position in shares of RMR Group during the fourth quarter worth about $10,885,000. Federated Hermes Inc. grew its holdings in shares of RMR Group by 372.9% during the first quarter. Federated Hermes Inc. now owns 219,195 shares of the financial services provider’s stock worth $5,912,000 after buying an additional 172,848 shares during the last quarter. Finally, V3 Capital Management L.P. grew its holdings in shares of RMR Group by 38.7% during the first quarter. V3 Capital Management L.P. now owns 195,959 shares of the financial services provider’s stock worth $5,285,000 after buying an additional 54,700 shares during the last quarter. 38.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on RMR shares. B. Riley lowered their price target on RMR Group from $55.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Citigroup upgraded shares of RMR Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $28.00 in a research report on Tuesday, July 14th. Zacks Investment Research downgraded shares of RMR Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. BidaskClub upgraded shares of RMR Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Oppenheimer restated a “hold” rating on shares of RMR Group in a research report on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.57.

NASDAQ:RMR opened at $28.76 on Friday. The firm has a market capitalization of $900.48 million, a price-to-earnings ratio of 13.88 and a beta of 1.35. The firm’s fifty day simple moving average is $29.52 and its 200 day simple moving average is $32.74. RMR Group Inc has a twelve month low of $21.79 and a twelve month high of $50.31.

RMR Group (NASDAQ:RMR) last posted its earnings results on Monday, May 11th. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The business had revenue of $140.86 million for the quarter, compared to analyst estimates of $155.84 million. RMR Group had a net margin of 4.99% and a return on equity of 6.56%. Equities research analysts forecast that RMR Group Inc will post 1.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 27th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Friday, July 24th. RMR Group’s dividend payout ratio is currently 31.47%.

RMR Group Company Profile

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.

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Institutional Ownership by Quarter for RMR Group (NASDAQ:RMR)

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