The RMR Group (NASDAQ:RMR) Hits New 12-Month High – Here’s What Happened

The RMR Group Inc. (NASDAQ:RMR)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $20.58 and last traded at $20.4550, with a volume of 30940 shares trading hands. The stock had previously closed at $20.36.

Analysts Set New Price Targets

A number of equities research analysts have recently commented 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 target price 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 upgraded The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, The RMR Group presently has an average rating of “Moderate Buy” and an average target price of $19.00.

The RMR Group Stock Performance

The stock has a market capitalization of $651.11 million, a PE ratio of 16.77 and a beta of 1.05. The stock’s 50 day moving average is $18.05 and its two-hundred day moving average is $16.66.

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 for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $145.63 million during the quarter, compared to analysts’ expectations of $171.44 million. The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. Equities research analysts expect that The RMR Group Inc. will post 0.69 EPS for the current fiscal year.

The RMR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Tuesday, April 21st were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a $1.80 dividend on an annualized basis and a yield of 8.9%. The RMR Group’s dividend payout ratio (DPR) is currently 148.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in The RMR Group by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,616,140 shares of the financial services provider’s stock valued at $25,422,000 after buying an additional 6,439 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in The RMR Group by 55.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,147,902 shares of the financial services provider’s stock valued at $18,768,000 after buying an additional 411,700 shares in the last quarter. Bank of America Corp DE lifted its stake in The RMR Group by 76.1% in the 1st quarter. Bank of America Corp DE now owns 941,252 shares of the financial services provider’s stock valued at $14,561,000 after buying an additional 406,888 shares in the last quarter. Flat Footed LLC lifted its stake in The RMR Group by 2.4% in the 1st quarter. Flat Footed LLC now owns 802,739 shares of the financial services provider’s stock valued at $12,418,000 after buying an additional 18,776 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in The RMR Group by 12.1% in the 4th quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider’s stock valued at $8,592,000 after buying an additional 62,307 shares in the last quarter. 42.31% of the stock is owned by hedge funds and other institutional investors.

About The RMR Group

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.