Strs Ohio Raises Stake in RMR Group Inc (RMR)
Strs Ohio grew its position in RMR Group Inc (NASDAQ:RMR) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the financial services provider’s stock after buying an additional 1,500 shares during the quarter. Strs Ohio’s holdings in RMR Group were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in RMR Group by 39.0% during the 3rd quarter. FMR LLC now owns 421,124 shares of the financial services provider’s stock worth $39,080,000 after purchasing an additional 118,096 shares in the last quarter. Vanguard Group Inc lifted its holdings in RMR Group by 11.5% during the 3rd quarter. Vanguard Group Inc now owns 1,014,631 shares of the financial services provider’s stock worth $94,157,000 after buying an additional 104,256 shares during the last quarter. Vanguard Group Inc. lifted its holdings in RMR Group by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,014,631 shares of the financial services provider’s stock worth $94,157,000 after buying an additional 104,256 shares during the last quarter. BlackRock Inc. lifted its holdings in RMR Group by 11.3% during the 2nd quarter. BlackRock Inc. now owns 477,929 shares of the financial services provider’s stock worth $37,494,000 after buying an additional 48,424 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in RMR Group during the 3rd quarter worth about $4,447,000. 18.55% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on RMR. B. Riley lifted their price target on RMR Group to $91.00 and gave the stock a “buy” rating in a report on Tuesday, January 15th. ValuEngine raised RMR Group from a “hold” rating to a “buy” rating in a report on Thursday, December 6th. TheStreet raised RMR Group from a “c+” rating to a “b” rating in a report on Friday, January 25th. Finally, Zacks Investment Research raised RMR Group from a “strong sell” rating to a “hold” rating and set a $74.00 target price for the company in a report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $81.50.
RMR Group (NASDAQ:RMR) last posted its earnings results on Thursday, February 7th. The financial services provider reported $3.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.22. RMR Group had a return on equity of 17.44% and a net margin of 16.52%. The business had revenue of $280.31 million during the quarter, compared to the consensus estimate of $181.62 million. Sell-side analysts forecast that RMR Group Inc will post 4.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 21st. Stockholders of record on Monday, January 28th will be issued a $0.35 dividend. This is an increase from RMR Group’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, January 25th. RMR Group’s payout ratio is presently 60.09%.
About RMR Group
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 five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.
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