The RMR Group (NASDAQ:RMR) Shares Down 3.8%

The RMR Group Inc. (NASDAQ:RMR) dropped 3.8% on Wednesday . The stock traded as low as $22.54 and last traded at $22.92. Approximately 40,530 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 90,208 shares. The stock had previously closed at $23.82.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RMR shares. JMP Securities assumed coverage on The RMR Group in a report on Friday, April 19th. They set a “market perform” rating for the company. StockNews.com cut shares of The RMR Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th.

The RMR Group Trading Down 3.1 %

The firm has a market cap of $731.87 million, a P/E ratio of 6.64 and a beta of 1.29. The firm has a 50-day simple moving average of $23.56 and a 200-day simple moving average of $24.65.

The RMR Group (NASDAQ:RMR) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $261.67 million for the quarter, compared to analyst estimates of $223.18 million. The RMR Group had a return on equity of 7.78% and a net margin of 5.93%. Research analysts predict that The RMR Group Inc. will post 1.92 earnings per share for the current fiscal year.

The RMR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be given a dividend of $0.45 per share. This is a boost from The RMR Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, April 19th. This represents a $1.80 dividend on an annualized basis and a yield of 7.80%. The RMR Group’s dividend payout ratio is presently 52.02%.

Institutional Investors Weigh In On The RMR Group

A number of large investors have recently modified their holdings of the business. Swiss National Bank raised its position in The RMR Group by 2.1% during the 3rd quarter. Swiss National Bank now owns 34,392 shares of the financial services provider’s stock worth $843,000 after buying an additional 700 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of The RMR Group by 153.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,861 shares of the financial services provider’s stock valued at $1,174,000 after buying an additional 28,994 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of The RMR Group in the 3rd quarter valued at about $337,000. Vanguard Group Inc. boosted its stake in shares of The RMR Group by 0.6% in the third quarter. Vanguard Group Inc. now owns 2,275,399 shares of the financial services provider’s stock worth $55,793,000 after buying an additional 14,559 shares during the last quarter. Finally, Islay Capital Management LLC acquired a new stake in The RMR Group during the fourth quarter worth about $1,184,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

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.