The RMR Group Inc. (RMR) Position Increased by Northern Trust Corp
Northern Trust Corp raised its position in The RMR Group Inc. (NASDAQ:RMR) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,238 shares of the financial services provider’s stock after purchasing an additional 3,138 shares during the quarter. Northern Trust Corp owned 0.72% of The RMR Group worth $5,315,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. American International Group Inc. raised its position in The RMR Group by 7.1% in the 1st quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 281 shares during the period. Principal Financial Group Inc. purchased a new stake in The RMR Group in the 2nd quarter worth about $211,000. Trexquant Investment LP purchased a new position in shares of The RMR Group during the second quarter worth approximately $219,000. Bank of America Corp DE increased its position in shares of The RMR Group by 1.2% during the first quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 59 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of The RMR Group during the second quarter worth approximately $248,000. 33.04% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on RMR shares. Zacks Investment Research raised shares of The RMR Group from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research report on Wednesday, October 4th. FBR & Co reaffirmed a “neutral” rating and set a $51.00 target price (up from $50.00) on shares of The RMR Group in a research report on Monday, October 2nd. BidaskClub raised shares of The RMR Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 12th. Canaccord Genuity set a $68.00 target price on shares of The RMR Group and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Finally, B. Riley reaffirmed a “neutral” rating on shares of The RMR Group in a research report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.00.
The RMR Group Inc. (RMR) opened at $55.65 on Friday. The RMR Group Inc. has a fifty-two week low of $38.14 and a fifty-two week high of $56.40. The stock has a market cap of $834.73, a price-to-earnings ratio of 31.07 and a beta of -0.86.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. The RMR Group’s payout ratio is 35.97%.
About The 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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