Bank of America Corp DE lowered its stake in shares of RMR Group Inc (NASDAQ:RMR) by 66.5% during the fourth quarter, HoldingsChannel reports. The firm owned 10,804 shares of the financial services provider’s stock after selling 21,429 shares during the quarter. Bank of America Corp DE’s holdings in RMR Group were worth $573,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Two Sigma Investments LP raised its stake in shares of RMR Group by 116.1% in the fourth quarter. Two Sigma Investments LP now owns 6,458 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 3,469 shares during the last quarter. Geode Capital Management LLC raised its position in RMR Group by 15.4% during the fourth quarter. Geode Capital Management LLC now owns 184,734 shares of the financial services provider’s stock valued at $9,805,000 after acquiring an additional 24,661 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new position in RMR Group during the fourth quarter valued at approximately $415,000. Dimensional Fund Advisors LP raised its position in RMR Group by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 373,780 shares of the financial services provider’s stock valued at $19,841,000 after acquiring an additional 5,667 shares in the last quarter. Finally, United Services Automobile Association raised its position in RMR Group by 6.0% during the fourth quarter. United Services Automobile Association now owns 17,758 shares of the financial services provider’s stock valued at $943,000 after acquiring an additional 1,006 shares in the last quarter. 19.04% of the stock is currently owned by institutional investors.
Shares of RMR stock opened at $51.19 on Monday. The company has a market cap of $1.60 billion, a P/E ratio of 21.97 and a beta of 1.17. RMR Group Inc has a twelve month low of $48.46 and a twelve month high of $98.00.
RMR Group (NASDAQ:RMR) last announced its quarterly earnings results on Friday, May 10th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $130.10 million for the quarter, compared to analysts’ expectations of $141.12 million. RMR Group had a net margin of 14.31% and a return on equity of 16.42%. As a group, equities analysts predict that RMR Group Inc will post 4.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 29th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Friday, April 26th. RMR Group’s payout ratio is currently 60.09%.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded RMR Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. BidaskClub cut RMR Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. ValuEngine cut RMR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Finally, B. Riley set a $89.00 price target on RMR Group and gave the company a “buy” rating in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. RMR Group has a consensus rating of “Hold” and a consensus target price of $76.00.
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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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