The RMR Group (NASDAQ:RMR) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

The RMR Group Inc. (NASDAQ:RMR)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.70 and traded as high as $20.79. The RMR Group shares last traded at $20.54, with a volume of 122,514 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on RMR. Zacks Research upgraded shares of The RMR Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial lowered their price objective on shares of 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 raised shares of The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

The RMR Group Price Performance

The firm has a market capitalization of $657.85 million, a PE ratio of 16.94 and a beta of 1.05. The company has a fifty day moving average of $19.78 and a 200-day moving average of $17.38.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. The firm had revenue of $145.63 million during the quarter, compared to analysts’ expectations of $171.44 million. Equities analysts anticipate that The RMR Group Inc. will post 0.69 EPS for the current year.

The RMR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st were paid a $0.45 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $1.80 dividend on an annualized basis and a yield of 8.8%. The RMR Group’s payout ratio is 148.76%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC boosted its holdings in The RMR Group by 313.1% in the first quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,124 shares in the last quarter. Quarry LP bought a new position in The RMR Group during the third quarter valued at about $36,000. State of Alaska Department of Revenue bought a new position in The RMR Group during the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC lifted its position in shares of The RMR Group by 442.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider’s stock worth $50,000 after buying an additional 2,513 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of The RMR Group in the first quarter worth about $50,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

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.