The RMR Group (NASDAQ:RMR) Trading Down 1.1%

Shares of The RMR Group Inc. (NASDAQ:RMR) dropped 1.1% during mid-day trading on Wednesday . The company traded as low as $22.52 and last traded at $22.59. Approximately 13,652 shares were traded during trading, a decline of 85% from the average daily volume of 89,207 shares. The stock had previously closed at $22.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMR. StockNews.com cut The RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. TheStreet upgraded shares of The RMR Group from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. Finally, JMP Securities started coverage on The RMR Group in a research note on Friday, April 19th. They issued a “market perform” rating for the company.

The RMR Group Stock Performance

The stock’s 50 day moving average price is $23.70 and its 200 day moving average price is $24.66. The company has a market capitalization of $728.67 million, a P/E ratio of 6.56 and a beta of 1.30.

The RMR Group (NASDAQ:RMR) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The RMR Group had a net margin of 5.93% and a return on equity of 7.78%. The business had revenue of $261.67 million for the quarter, compared to analysts’ expectations of $223.18 million. On average, analysts expect that The RMR Group Inc. will post 1.92 earnings per share for the current fiscal year.

The RMR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 19th. This is a positive change from The RMR Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 7.83%. The RMR Group’s payout ratio is 52.02%.

Hedge Funds Weigh In On The RMR Group

Several institutional investors have recently made changes to their positions in RMR. Swiss National Bank lifted its holdings in shares of The RMR Group by 2.1% in the 3rd quarter. Swiss National Bank now owns 34,392 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The RMR Group by 26.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,217 shares of the financial services provider’s stock valued at $119,000 after buying an additional 874 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of The RMR Group by 2,724.2% in the fourth quarter. International Assets Investment Management LLC now owns 932 shares of the financial services provider’s stock valued at $26,000 after buying an additional 899 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of The RMR Group by 92.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,482 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of The RMR Group by 9.6% during the third quarter. Trexquant Investment LP now owns 17,663 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 1,540 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

About The RMR Group

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.