MAI Capital Management acquired a new stake in shares of The RMR Group Inc. (NASDAQ:RMR – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,566 shares of the financial services provider’s stock, valued at approximately $277,000.
Other institutional investors have also modified their holdings of the company. Millennium Management LLC increased its stake in shares of The RMR Group by 121.1% in the 4th quarter. Millennium Management LLC now owns 354,026 shares of the financial services provider’s stock valued at $10,001,000 after purchasing an additional 193,901 shares in the last quarter. UBS Group AG boosted its holdings in The RMR Group by 69,488.3% in the 4th quarter. UBS Group AG now owns 154,486 shares of the financial services provider’s stock worth $4,364,000 after buying an additional 154,264 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in The RMR Group by 176.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 205,746 shares of the financial services provider’s stock worth $5,399,000 after buying an additional 131,299 shares during the last quarter. BlackRock Inc. boosted its holdings in The RMR Group by 7.6% in the 3rd quarter. BlackRock Inc. now owns 1,478,140 shares of the financial services provider’s stock worth $35,019,000 after buying an additional 104,710 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in The RMR Group by 15.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 307,056 shares of the financial services provider’s stock worth $7,273,000 after buying an additional 40,804 shares during the last quarter. Hedge funds and other institutional investors own 40.79% of the company’s stock.
Analyst Ratings Changes
RMR has been the topic of several recent research reports. B. Riley restated a “buy” rating and set a $37.00 target price on shares of The RMR Group in a report on Wednesday. StockNews.com initiated coverage on The RMR Group in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, TheStreet cut The RMR Group from a “b-” rating to a “c+” rating in a report on Wednesday, May 10th.
The RMR Group Stock Performance
RMR stock opened at $24.22 on Friday. The firm has a market cap of $765.44 million, a PE ratio of 6.56 and a beta of 1.48. The firm’s 50 day moving average price is $23.53 and its 200-day moving average price is $24.47. The RMR Group Inc. has a one year low of $20.79 and a one year high of $31.55.
The RMR Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, July 24th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Friday, July 21st. This is a positive change from The RMR Group’s previous quarterly dividend of $0.30. The RMR Group’s payout ratio is presently 43.36%.
About The RMR Group
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. The company offers management services to its four publicly traded real estate investment trusts and three real estate operating companies. It also provides investment advisory and administrative services.
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