12,990 Shares in RMR Group Inc (RMR) Purchased by Convergence Investment Partners LLC
Convergence Investment Partners LLC purchased a new position in shares of RMR Group Inc (NASDAQ:RMR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,990 shares of the financial services provider’s stock, valued at approximately $1,019,000.
Several other institutional investors have also recently modified their holdings of RMR. First Trust Advisors LP increased its stake in shares of RMR Group by 1,065.2% during the second quarter. First Trust Advisors LP now owns 80,724 shares of the financial services provider’s stock worth $6,333,000 after acquiring an additional 73,796 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of RMR Group by 22.3% during the first quarter. Dimensional Fund Advisors LP now owns 271,480 shares of the financial services provider’s stock worth $18,990,000 after acquiring an additional 49,474 shares during the period. Mackay Shields LLC acquired a new position in shares of RMR Group during the first quarter worth about $3,004,000. First Quadrant L P CA purchased a new stake in RMR Group during the second quarter worth about $2,129,000. Finally, Prudential Financial Inc. boosted its holdings in RMR Group by 26.6% during the first quarter. Prudential Financial Inc. now owns 110,078 shares of the financial services provider’s stock worth $7,700,000 after buying an additional 23,139 shares in the last quarter. Institutional investors and hedge funds own 17.93% of the company’s stock.
RMR has been the topic of a number of research analyst reports. ValuEngine raised shares of RMR Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. B. Riley set a $88.00 price objective on shares of RMR Group and gave the stock a “hold” rating in a report on Monday, May 14th. Zacks Investment Research downgraded shares of RMR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, BidaskClub downgraded shares of RMR Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.00.
RMR Group (NASDAQ:RMR) last released its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $62.08 million for the quarter, compared to the consensus estimate of $59.03 million. RMR Group had a net margin of 23.43% and a return on equity of 9.97%. analysts forecast that RMR Group Inc will post 2.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, July 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, July 27th. RMR Group’s dividend payout ratio is currently 26.39%.
RMR Group Company Profile
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2017, the company had approximately 1,400 properties under management, which are primarily owned by its Managed Equity REITs.
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