Russell Investments Group Ltd. Boosts Position in RMR Group Inc (RMR)
Russell Investments Group Ltd. raised its stake in shares of RMR Group Inc (NYSE:RMR) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,075 shares of the financial services provider’s stock after buying an additional 3,059 shares during the period. Russell Investments Group Ltd. owned approximately 0.39% of RMR Group worth $3,068,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in RMR. State Board of Administration of Florida Retirement System acquired a new stake in RMR Group during the first quarter valued at approximately $208,000. American International Group Inc. raised its stake in RMR Group by 7.1% in the first quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock valued at $211,000 after buying an additional 281 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in RMR Group during the first quarter valued at about $216,000. Old Mutual Global Investors UK Ltd. purchased a new stake in RMR Group during the first quarter valued at about $245,000. Finally, Bank of America Corp DE raised its stake in RMR Group by 1.2% in the first quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock valued at $249,000 after buying an additional 59 shares in the last quarter.
RMR Group Inc (NYSE RMR) traded up 0.249% during midday trading on Wednesday, reaching $50.726. 12,479 shares of the company traded hands. The stock has a market capitalization of $816.38 million and a P/E ratio of 18.332. The firm has a 50-day moving average of $48.82 and a 200-day moving average of $49.90. RMR Group Inc has a 1-year low of $33.90 and a 1-year high of $55.10.
RMR Group (NYSE:RMR) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by $0.02. The business had revenue of $55.50 million during the quarter, compared to analyst estimates of $54.65 million. RMR Group had a net margin of 32.69% and a return on equity of 19.25%. On average, analysts predict that RMR Group Inc will post $2.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, July 20th.
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Several equities research analysts recently issued reports on RMR shares. FBR & Co reissued a “mkt perform” rating and issued a $48.00 target price (up from $44.00) on shares of RMR Group in a report on Friday, May 12th. Zacks Investment Research raised shares of RMR Group from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, May 16th. Finally, Canaccord Genuity started coverage on shares of RMR Group in a report on Wednesday, May 31st. They issued a “buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.
About RMR Group
The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.
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