The RMR Group (NASDAQ:RMR) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

The RMR Group Inc. (NASDAQ:RMR) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.70 and traded as high as $20.79. The RMR Group shares last traded at $20.54, with a volume of 122,514 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on RMR shares. Weiss Ratings upgraded shares of The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. B. Riley Financial cut their price target on shares of The RMR Group from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Finally, Zacks Research raised The RMR Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.00.

The RMR Group Stock Up 0.0%

The firm’s fifty day moving average price is $19.70 and its 200-day moving average price is $17.35. The stock has a market cap of $659.13 million, a P/E ratio of 16.98 and a beta of 1.05.

The RMR Group (NASDAQ:RMR) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $145.63 million for the quarter, compared to analysts’ expectations of $171.44 million. The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. Sell-side analysts predict that The RMR Group Inc. will post 0.69 earnings per share for the current year.

The RMR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Tuesday, April 21st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Tuesday, April 21st. The RMR Group’s dividend payout ratio is currently 148.76%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC lifted its holdings in 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 worth $18,768,000 after buying an additional 411,700 shares during the period. Bank of America Corp DE grew its holdings in shares of The RMR Group by 76.1% during the 1st quarter. Bank of America Corp DE now owns 941,252 shares of the financial services provider’s stock worth $14,561,000 after acquiring an additional 406,888 shares during the period. Federated Hermes Inc. grew its stake in The RMR Group by 12.1% in the fourth quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider’s stock worth $8,592,000 after purchasing an additional 62,307 shares during the period. Jane Street Group LLC purchased a new stake in shares of The RMR Group in the 1st quarter worth about $988,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of The RMR Group in the 4th quarter worth about $671,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Company Profile

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.