The RMR Group (NASDAQ:RMR) Stock Price Down 1.5%

The RMR Group Inc. (NASDAQ:RMR) shares fell 1.5% during trading on Friday . The stock traded as low as $22.50 and last traded at $22.55. 34,036 shares were traded during trading, a decline of 62% from the average session volume of 89,164 shares. The stock had previously closed at $22.89.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RMR. StockNews.com cut shares of The RMR Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. TheStreet raised shares of The RMR Group from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. Finally, JMP Securities began coverage on shares of The RMR Group in a report on Friday. They set a “market perform” rating on the stock.

The RMR Group Stock Down 2.3 %

The business’s 50 day moving average is $23.85 and its 200-day moving average is $24.67. The firm has a market capitalization of $709.04 million, a P/E ratio of 6.52 and a beta of 1.30.

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

The RMR Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be given a $0.45 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.80 dividend on an annualized basis and a yield of 8.05%. This is a positive change from The RMR Group’s previous quarterly dividend of $0.40. The RMR Group’s dividend payout ratio (DPR) is currently 46.24%.

Hedge Funds Weigh In On The RMR Group

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in The RMR Group by 2,538.4% in the first quarter. Envestnet Asset Management Inc. now owns 293,339 shares of the financial services provider’s stock valued at $90,000 after buying an additional 282,221 shares during the period. Millennium Management LLC increased its stake in The RMR Group by 121.1% in the fourth quarter. Millennium Management LLC now owns 354,026 shares of the financial services provider’s stock valued at $10,001,000 after purchasing an additional 193,901 shares in the last quarter. BlackRock Inc. increased its stake in The RMR Group by 7.6% in the third quarter. BlackRock Inc. now owns 1,478,140 shares of the financial services provider’s stock valued at $35,019,000 after purchasing an additional 104,710 shares in the last quarter. UBS Group AG increased its stake in The RMR Group by 52.7% in the first quarter. UBS Group AG now owns 235,828 shares of the financial services provider’s stock valued at $6,188,000 after purchasing an additional 81,342 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in The RMR Group by 694.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 83,819 shares of the financial services provider’s stock valued at $2,199,000 after purchasing an additional 73,269 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

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.