State Board of Administration of Florida Retirement System Invests $208,000 in RMR Group Inc (NYSE:RMR)
State Board of Administration of Florida Retirement System purchased a new position in RMR Group Inc (NYSE:RMR) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,199 shares of the financial services provider’s stock, valued at approximately $208,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in RMR Group during the fourth quarter valued at approximately $1,113,000. State Street Corp increased its stake in RMR Group by 9.5% in the fourth quarter. State Street Corp now owns 129,860 shares of the financial services provider’s stock valued at $5,133,000 after buying an additional 11,266 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in RMR Group by 81.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 112,471 shares of the financial services provider’s stock valued at $4,443,000 after buying an additional 50,624 shares during the last quarter. Renaissance Technologies LLC increased its stake in RMR Group by 52.8% in the fourth quarter. Renaissance Technologies LLC now owns 73,800 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 25,500 shares during the last quarter. Finally, Tudor Investment Corp Et Al increased its stake in RMR Group by 3.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 10,944 shares of the financial services provider’s stock valued at $432,000 after buying an additional 367 shares during the last quarter.
RMR Group Inc (NYSE RMR) traded down 3.35% on Friday, reaching $49.10. The company’s stock had a trading volume of 19,642 shares. The firm has a market cap of $790.22 million and a price-to-earnings ratio of 17.74. The firm has a 50 day moving average of $49.41 and a 200 day moving average of $49.69. RMR Group Inc has a 12 month low of $33.90 and a 12 month high of $55.10.
RMR Group (NYSE:RMR) last announced its earnings results on Wednesday, May 10th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. RMR Group had a net margin of 32.69% and a return on equity of 19.25%. The business had revenue of $54.30 million for the quarter, compared to analysts’ expectations of $52.79 million. Analysts anticipate that RMR Group Inc will post $2.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, July 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.04%.
RMR has been the subject of several recent analyst reports. Zacks Investment Research raised RMR Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, May 16th. FBR & Co restated a “mkt perform” rating and issued a $48.00 price target (up previously from $44.00) on shares of RMR Group in a research note on Friday, May 12th. Canaccord Genuity set a $72.00 price target on RMR Group and gave the company a “buy” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. initiated coverage on RMR Group in a research note on Tuesday, April 18th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. RMR Group currently has an average rating of “Hold” and an average target price of $59.33.
RMR Group Company Profile
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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