RMR Group Inc (RMR) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its holdings in shares of RMR Group Inc (NYSE:RMR) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,804 shares of the financial services provider’s stock after buying an additional 2,360 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of RMR Group worth $2,033,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of RMR Group by 1.9% during the 2nd quarter. Alps Advisors Inc. now owns 11,116 shares of the financial services provider’s stock worth $541,000 after buying an additional 202 shares during the period. Rhumbline Advisers raised its stake in shares of RMR Group by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 8,081 shares of the financial services provider’s stock worth $393,000 after buying an additional 466 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of RMR Group by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 27,854 shares of the financial services provider’s stock worth $1,356,000 after buying an additional 152 shares during the period. Trexquant Investment LP acquired a new position in shares of RMR Group during the 2nd quarter worth approximately $219,000. Finally, Sei Investments Co. raised its stake in shares of RMR Group by 46.6% during the 2nd quarter. Sei Investments Co. now owns 6,110 shares of the financial services provider’s stock worth $298,000 after buying an additional 1,941 shares during the period.
RMR has been the subject of several research analyst reports. Canaccord Genuity set a $72.00 target price on RMR Group and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research downgraded RMR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. FBR & Co reaffirmed a “neutral” rating and set a $51.00 target price (up from $50.00) on shares of RMR Group in a research note on Monday, October 2nd. Finally, BidaskClub raised RMR Group from a “hold” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.00.
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Shares of RMR Group Inc (NYSE:RMR) opened at 52.75 on Monday. The company’s 50 day moving average price is $51.07 and its 200 day moving average price is $50.14. RMR Group Inc has a 12 month low of $33.90 and a 12 month high of $55.10. The stock has a market capitalization of $848.96 million and a PE ratio of 19.06.
RMR Group (NYSE:RMR) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). RMR Group had a return on equity of 18.72% and a net margin of 31.72%. The company had revenue of $55.50 million during the quarter, compared to analyst estimates of $54.65 million. Equities analysts anticipate that RMR Group Inc will post $2.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, October 23rd will be issued a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%.
About 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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