Corsair Capital Management L.P. Cuts Stake in The RMR Group Inc. (NASDAQ:RMR)

Corsair Capital Management L.P. cut its holdings in The RMR Group Inc. (NASDAQ:RMR) by 30.9% during the fourth quarter, Holdings Channel reports. The firm owned 16,577 shares of the financial services provider’s stock after selling 7,400 shares during the quarter. Corsair Capital Management L.P.’s holdings in The RMR Group were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMR. Charles Schwab Investment Management Inc. boosted its holdings in shares of The RMR Group by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,218 shares of the financial services provider’s stock valued at $6,753,000 after purchasing an additional 39,270 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in The RMR Group by 31.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 37,290 shares of the financial services provider’s stock valued at $1,053,000 after buying an additional 8,975 shares during the last quarter. Swiss National Bank grew its holdings in The RMR Group by 2.1% during the 3rd quarter. Swiss National Bank now owns 34,392 shares of the financial services provider’s stock valued at $843,000 after buying an additional 700 shares in the last quarter. Islay Capital Management LLC bought a new stake in The RMR Group in the 4th quarter worth approximately $1,184,000. Finally, Alps Advisors Inc. bought a new position in shares of The RMR Group during the 3rd quarter valued at approximately $337,000. 42.31% of the stock is currently owned by institutional investors.

The RMR Group Stock Performance

NASDAQ RMR traded down $0.28 during trading on Friday, hitting $23.04. The stock had a trading volume of 51,792 shares, compared to its average volume of 60,993. The RMR Group Inc. has a one year low of $21.60 and a one year high of $28.82. The stock has a market capitalization of $731.06 million, a price-to-earnings ratio of 8.57 and a beta of 1.24. The stock has a 50 day simple moving average of $23.53 and a 200 day simple moving average of $24.73.

The RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The RMR Group had a net margin of 4.59% and a return on equity of 7.35%. The business had revenue of $217.75 million during the quarter, compared to the consensus estimate of $238.20 million. On average, sell-side analysts predict that The RMR Group Inc. will post 1.71 EPS for the current year.

The RMR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.81%. This is a boost from The RMR Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, April 19th. The RMR Group’s dividend payout ratio is currently 66.91%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMR shares. JMP Securities started coverage on shares of The RMR Group in a research report on Friday, April 19th. They set a “market perform” rating for the company. B. Riley dropped their price objective on shares of The RMR Group from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th.

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.