B. Riley Financial Cuts The RMR Group (NASDAQ:RMR) Price Target to $21.00
by Sarita Garza · The Markets DailyThe RMR Group (NASDAQ:RMR – Free Report) had its price objective reduced by B. Riley Financial from $24.00 to $21.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.
Several other equities research analysts have also recently commented on the stock. Zacks Research cut shares of The RMR Group from a “hold” rating to a “strong sell” rating in a research report on Friday, March 13th. Weiss Ratings upgraded The RMR Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 5th. Wall Street Zen raised The RMR Group from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, LADENBURG THALM/SH SH assumed coverage on The RMR Group in a report on Wednesday, January 7th. They issued a “buy” rating and a $17.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.00.
Get Our Latest Stock Analysis on The RMR Group
The RMR Group Stock Performance
NASDAQ RMR opened at $15.82 on Tuesday. The stock has a market cap of $507.19 million, a price-to-earnings ratio of 11.46 and a beta of 0.93. The business has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $15.86. The RMR Group has a 52-week low of $13.48 and a 52-week high of $18.09.
The RMR Group (NASDAQ:RMR – Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $180.42 million for the quarter, compared to analyst estimates of $214.10 million. The RMR Group had a net margin of 3.52% and a return on equity of 4.03%. On average, analysts predict that The RMR Group will post 1.51 EPS for the current year.
The RMR Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, January 26th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, January 26th. This represents a $1.80 annualized dividend and a dividend yield of 11.4%. The RMR Group’s payout ratio is 130.43%.
Institutional Investors Weigh In On The RMR Group
Several large investors have recently made changes to their positions in RMR. NewEdge Advisors LLC increased its holdings in The RMR Group by 313.1% during the first quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,124 shares during the last quarter. New York State Common Retirement Fund lifted its stake in The RMR Group by 538.5% in the third quarter. New York State Common Retirement Fund now owns 1,660 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in The RMR Group by 1,307.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,773 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,647 shares during the last quarter. Quarry LP bought a new position in shares of The RMR Group in the 3rd quarter valued at about $36,000. Finally, State of Alaska Department of Revenue bought a new position in shares of The RMR Group in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 42.31% of the company’s stock.
About The RMR Group
The RMR Group, Inc (NASDAQ: RMR) is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.
Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.