American International Group Inc. lessened its position in shares of The RMR Group Inc. (NASDAQ:RMR) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,673 shares of the financial services provider’s stock after selling 1,810 shares during the quarter. American International Group Inc.’s holdings in The RMR Group were worth $925,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in The RMR Group in the 1st quarter valued at about $82,000. BNP Paribas Arbitrage SA raised its stake in The RMR Group by 20.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,882 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 492 shares during the last quarter. Strs Ohio acquired a new position in The RMR Group in the 4th quarter valued at about $142,000. PhiloSmith Capital Corp raised its stake in The RMR Group by 92,400.0% in the 1st quarter. PhiloSmith Capital Corp now owns 3,700 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 3,696 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in The RMR Group in the 1st quarter valued at about $200,000. 38.69% of the stock is owned by institutional investors and hedge funds.
RMR stock opened at $40.71 on Friday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 25.44 and a beta of 1.69. The RMR Group Inc. has a 12-month low of $25.10 and a 12-month high of $44.16. The firm’s 50 day moving average price is $39.80.
RMR has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on The RMR Group from $40.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, April 20th. TheStreet cut The RMR Group from a “b-” rating to a “c” rating in a report on Monday, May 10th. Zacks Investment Research lowered The RMR Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 7th. Finally, BTIG Research reissued a “buy” rating on shares of The RMR Group in a research report on Sunday, April 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.60.
The RMR Group Company Profile
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 four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2020, it had approximately 2,100 properties in 47 states under management, which are primarily owned by the Managed Equity REITs.
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