The RMR Group (NASDAQ:RMR) Sees Strong Trading Volume

Shares of The RMR Group Inc. (NASDAQ:RMRGet Free Report) saw an uptick in trading volume on Friday . 197,846 shares traded hands during mid-day trading, an increase of 128% from the previous session’s volume of 86,933 shares.The stock last traded at $22.13 and had previously closed at $22.80.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RMR. JMP Securities assumed coverage on The RMR Group in a research note on Friday, April 19th. They set a “market perform” rating for the company. B. Riley decreased their price objective on The RMR Group from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th.

Get Our Latest Stock Report on RMR

The RMR Group Stock Performance

The stock has a 50 day moving average of $23.51 and a two-hundred day moving average of $24.70. The firm has a market capitalization of $712.02 million, a P/E ratio of 8.35 and a beta of 1.24.

The RMR Group (NASDAQ:RMRGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $217.75 million during the quarter, compared to the consensus estimate of $238.20 million. The RMR Group had a return on equity of 7.35% and a net margin of 4.59%. Sell-side analysts predict that The RMR Group Inc. will post 1.71 EPS for the current year.

The RMR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, April 19th. This is a boost 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 8.02%. The RMR Group’s payout ratio is currently 66.91%.

Institutional Trading of The RMR Group

A number of institutional investors and hedge funds have recently modified their holdings of RMR. Wasatch Advisors LP increased its position in shares of The RMR Group by 24.3% during the fourth quarter. Wasatch Advisors LP now owns 365,730 shares of the financial services provider’s stock valued at $10,325,000 after purchasing an additional 71,549 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 in the last quarter. Islay Capital Management LLC acquired a new stake in The RMR Group in the 4th quarter valued at $1,184,000. Charles Schwab Investment Management Inc. boosted its stake 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 in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake 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 in the last quarter. 42.31% of the stock is currently owned by institutional investors.

About The RMR Group

(Get Free Report)

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.

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