The RMR Group (NASDAQ:RMR) Price Target Cut to $42.00

The RMR Group (NASDAQ:RMRGet Rating) had its target price lowered by B. Riley from $44.00 to $42.00 in a research report sent to investors on Monday morning, The Fly reports. B. Riley also issued estimates for The RMR Group’s Q1 2023 earnings at $0.53 EPS, Q2 2023 earnings at $0.53 EPS, Q3 2023 earnings at $0.53 EPS, Q4 2023 earnings at $0.57 EPS, FY2023 earnings at $2.16 EPS, Q1 2024 earnings at $0.56 EPS, Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.59 EPS and FY2024 earnings at $2.27 EPS.

Several other research firms have also recently weighed in on RMR. Oppenheimer reaffirmed a market perform rating on shares of The RMR Group in a report on Tuesday, August 9th. StockNews.com raised shares of The RMR Group from a hold rating to a buy rating in a report on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $35.33.

The RMR Group Price Performance

NASDAQ:RMR opened at $28.36 on Monday. The company has a market cap of $896.46 million, a P/E ratio of 13.70 and a beta of 1.49. The RMR Group has a 1 year low of $23.00 and a 1 year high of $36.70. The stock’s fifty day moving average price is $26.09 and its two-hundred day moving average price is $27.41.

The RMR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, October 24th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date was Friday, October 21st. This is a boost from The RMR Group’s previous quarterly dividend of $0.30. The RMR Group’s dividend payout ratio is currently 77.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in The RMR Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,341,719 shares of the financial services provider’s stock valued at $72,827,000 after acquiring an additional 19,870 shares during the last quarter. BlackRock Inc. grew its stake in shares of The RMR Group by 7.6% during the third quarter. BlackRock Inc. now owns 1,478,140 shares of the financial services provider’s stock valued at $35,019,000 after buying an additional 104,710 shares during the last quarter. Nantahala Capital Management LLC grew its stake in shares of The RMR Group by 0.9% during the second quarter. Nantahala Capital Management LLC now owns 970,623 shares of the financial services provider’s stock valued at $27,517,000 after buying an additional 8,772 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of The RMR Group by 4.7% during the third quarter. Federated Hermes Inc. now owns 524,381 shares of the financial services provider’s stock valued at $12,423,000 after buying an additional 23,407 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of The RMR Group by 3.0% during the third quarter. TCW Group Inc. now owns 402,140 shares of the financial services provider’s stock valued at $9,527,000 after buying an additional 11,600 shares during the last quarter. Institutional investors own 40.65% of the company’s stock.

About The RMR Group

(Get Rating)

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. The company provides management services to its four publicly traded real estate investment trusts and three real estate operating companies. It also provides investment advisory services.

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