The RMR Group (NASDAQ:RMR – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.400-0.400 for the period, compared to the consensus earnings per share estimate of 0.430. The company issued revenue guidance of -.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on RMR. StockNews.com lowered The RMR Group from a buy rating to a hold rating in a research note on Thursday. TheStreet upgraded The RMR Group from a c+ rating to a b- rating in a research note on Tuesday, January 2nd.
The RMR Group Stock Up 1.3 %
The RMR Group (NASDAQ:RMR – Get Free Report) last announced its quarterly earnings data on Wednesday, November 15th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $222.93 million for the quarter, compared to analyst estimates of $236.35 million. The RMR Group had a return on equity of 7.78% and a net margin of 5.93%. As a group, research analysts anticipate that The RMR Group will post 1.88 EPS for the current fiscal year.
The RMR Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 19th. This is a positive change from The RMR Group’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 6.17%. The RMR Group’s dividend payout ratio is 46.24%.
Hedge Funds Weigh In On The RMR Group
Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in The RMR Group by 2,724.2% during the 4th quarter. International Assets Investment Management LLC now owns 932 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 899 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in The RMR Group during the 3rd quarter worth approximately $30,000. Tower Research Capital LLC TRC grew its position in The RMR Group by 930.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,226 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,107 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in The RMR Group during the 2nd quarter worth approximately $34,000. Finally, Envestnet Asset Management Inc. grew its position in The RMR Group by 2,538.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 293,339 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 282,221 shares during the last quarter. 38.51% of the stock is currently owned by institutional investors.
About The RMR Group
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.
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