JPMorgan Chase & Co. cut its position in shares of RMR Group Inc (NYSE:RMR) by 42.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,389 shares of the financial services provider’s stock after selling 6,092 shares during the period. JPMorgan Chase & Co. owned 0.05% of RMR Group worth $415,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new position in shares of RMR Group during the first quarter worth $208,000. Wedbush Securities Inc. purchased a new position in shares of RMR Group during the first quarter worth $216,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of RMR Group during the first quarter worth $245,000. Rational Advisors LLC bought a new stake in RMR Group during the first quarter valued at approximately $297,000. Finally, American Century Companies Inc. bought a new stake in RMR Group during the first quarter valued at approximately $717,000.
Shares of RMR Group Inc (NYSE:RMR) opened at 47.60 on Friday. RMR Group Inc has a 12-month low of $33.90 and a 12-month high of $55.10. The firm has a 50-day moving average of $48.92 and a 200-day moving average of $49.90. The company has a market cap of $766.07 million and a P/E ratio of 17.20.
RMR Group (NYSE:RMR) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by $0.02. The firm had revenue of $55.50 million for the quarter, compared to analysts’ expectations of $54.65 million. RMR Group had a net margin of 32.69% and a return on equity of 19.25%. Analysts predict that RMR Group Inc will post $2.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.10%.
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Several equities research analysts recently commented on RMR shares. Canaccord Genuity set a $72.00 price objective on shares of RMR Group and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research upgraded shares of RMR Group from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, May 16th. Finally, FBR & Co restated a “mkt perform” rating and set a $48.00 price objective (up from $44.00) on shares of RMR Group in a research note on Friday, May 12th. One research 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. The company currently has an average rating of “Hold” and an average target price of $58.00.
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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