The RMR Group (NASDAQ:RMR) Shares Down 3.4%

The RMR Group Inc. (NASDAQ:RMR)’s share price traded down 3.4% during mid-day trading on Monday . The stock traded as low as $24.52 and last traded at $24.58. 12,671 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 91,984 shares. The stock had previously closed at $25.44.

Wall Street Analyst Weigh In

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

The RMR Group Trading Down 2.3 %

The firm has a market capitalization of $782.14 million, a price-to-earnings ratio of 9.16 and a beta of 1.27. The stock’s 50 day moving average price is $23.49 and its two-hundred day moving average price is $24.09.

The RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The RMR Group had a return on equity of 7.35% and a net margin of 4.59%. The company had revenue of $217.75 million for the quarter, compared to analyst estimates of $238.20 million. On average, sell-side analysts forecast that The RMR Group Inc. will post 1.67 earnings per share for the current fiscal year.

The RMR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.30%. The RMR Group’s dividend payout ratio (DPR) is presently 66.91%.

Hedge Funds Weigh In On The RMR Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in The RMR Group by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,275,399 shares of the financial services provider’s stock valued at $55,793,000 after acquiring an additional 14,559 shares during the last quarter. SG Americas Securities LLC acquired a new stake in The RMR Group in the 4th quarter valued at about $155,000. International Assets Investment Management LLC grew its stake in The RMR Group by 2,724.2% in the 4th quarter. International Assets Investment Management LLC now owns 932 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 899 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in The RMR Group in the 4th quarter valued at about $62,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in The RMR Group by 26.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,217 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 874 shares during the last quarter. 42.31% of the stock is owned by institutional investors and hedge funds.

The RMR Group Company Profile

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.