The RMR Group (NASDAQ:RMR) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

by · The Cerbat Gem

The RMR Group (NASDAQ:RMRGet Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03), FiscalAI reports. The RMR Group had a net margin of 3.52% and a return on equity of 4.03%. The business had revenue of $145.63 million for the quarter, compared to the consensus estimate of $171.44 million.

The RMR Group Price Performance

Shares of RMR traded up $0.12 during midday trading on Wednesday, hitting $19.62. The stock had a trading volume of 295,573 shares, compared to its average volume of 186,841. The firm has a market cap of $629.02 million, a price-to-earnings ratio of 19.90 and a beta of 1.03. The company has a 50 day simple moving average of $16.50 and a two-hundred day simple moving average of $15.96. The RMR Group has a twelve month low of $13.48 and a twelve month high of $19.92.

The RMR Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Tuesday, April 21st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a $1.80 annualized dividend and a dividend yield of 9.2%. The RMR Group’s dividend payout ratio (DPR) is currently 130.43%.

Hedge Funds Weigh In On The RMR Group

Several hedge funds have recently modified their holdings of RMR. Nantahala Capital Management LLC grew its holdings in shares of The RMR Group by 55.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,147,902 shares of the financial services provider’s stock valued at $18,768,000 after acquiring an additional 411,700 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of The RMR Group by 435.7% in the 2nd quarter. Bank of America Corp DE now owns 94,663 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 76,991 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of The RMR Group by 12.1% in the 4th quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider’s stock valued at $8,592,000 after acquiring an additional 62,307 shares in the last quarter. Jane Street Group LLC bought a new position in shares of The RMR Group in the 1st quarter valued at about $988,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of The RMR Group by 1,235.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 47,206 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 43,671 shares in the last quarter. Institutional investors own 42.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RMR shares. LADENBURG THALM/SH SH started coverage on The RMR Group in a research note on Wednesday, January 7th. They issued a “buy” rating and a $17.00 price target on the stock. Weiss Ratings raised The RMR Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 5th. Zacks Research raised The RMR Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, B. Riley Financial dropped their price target on The RMR Group from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Read Our Latest Research Report on RMR

The RMR Group Company Profile

(Get Free Report)

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.

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