The RMR Group (NASDAQ:RMR) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

The RMR Group Inc. (NASDAQ:RMR) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $16.89 and traded as high as $19.29. The RMR Group shares last traded at $19.11, with a volume of 143,156 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RMR shares. Zacks Research upgraded The RMR Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial dropped their price target on The RMR Group from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of The RMR Group in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, The RMR Group currently has an average rating of “Moderate Buy” and an average price target of $19.00.

The RMR Group Stock Performance

The stock has a market cap of $613.30 million, a price-to-earnings ratio of 15.79 and a beta of 1.03. The company has a 50-day moving average of $16.89 and a 200-day moving average of $16.17.

The RMR Group (NASDAQ:RMR) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $145.63 million during the quarter, compared to analyst estimates of $171.44 million. The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. As a group, equities research analysts forecast that The RMR Group Inc. will post 0.69 EPS for the current year.

The RMR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend was Tuesday, April 21st. The RMR Group’s payout ratio is currently 148.76%.

Institutional Investors Weigh In On The RMR Group

A number of institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted 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 valued at $25,000 after purchasing an additional 1,124 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in The RMR Group by 12.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,252 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 1,212 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in The RMR Group by 11.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,337 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,345 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in The RMR Group by 538.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,660 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in The RMR Group by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 21,097 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Company Profile

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.