Vanguard Group Inc. boosted its position in shares of RMR Group Inc (NYSE:RMR) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 581,943 shares of the financial services provider’s stock after acquiring an additional 9,629 shares during the period. Vanguard Group Inc. owned 3.86% of RMR Group worth $28,312,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMR. American International Group Inc. raised its stake in RMR Group by 7.1% during the 1st quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 281 shares during the period. Principal Financial Group Inc. bought a new stake in RMR Group during the 2nd quarter worth approximately $211,000. Trexquant Investment LP bought a new stake in RMR Group during the 2nd quarter worth approximately $219,000. OMERS ADMINISTRATION Corp bought a new stake in RMR Group during the 2nd quarter worth approximately $248,000. Finally, Bank of America Corp DE raised its stake in RMR Group by 1.2% during the 1st quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 59 shares during the period.
A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of RMR Group from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, October 4th. Canaccord Genuity set a $72.00 price objective on shares of RMR Group and gave the company a “buy” rating in a research report on Wednesday, August 9th. B. Riley reiterated a “neutral” rating on shares of RMR Group in a research report on Wednesday, November 1st. BidaskClub cut shares of RMR Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, FBR & Co reiterated a “neutral” rating and set a $51.00 price objective (up previously from $50.00) on shares of RMR Group in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. RMR Group presently has a consensus rating of “Hold” and a consensus price target of $60.00.
Shares of RMR Group Inc (NYSE RMR) opened at $54.55 on Friday. RMR Group Inc has a 1 year low of $35.35 and a 1 year high of $55.10.
RMR Group (NYSE:RMR) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $55.50 million for the quarter, compared to the consensus estimate of $54.65 million. RMR Group had a net margin of 31.72% and a return on equity of 18.72%.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, October 20th.
RMR Group Company Profile
The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.
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