The RMR Group (NASDAQ:RMR) Shares Cross Below 50 Day Moving Average – Here’s What Happened

The RMR Group Inc. (NASDAQ:RMR)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.36 and traded as low as $20.00. The RMR Group shares last traded at $20.35, with a volume of 121,216 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Zacks Research raised shares of The RMR Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

The RMR Group Stock Performance

The firm has a 50-day moving average of $20.37 and a 200-day moving average of $18.04. The firm has a market capitalization of $628.64 million, a P/E ratio of 16.19 and a beta of 1.05.

The RMR Group (NASDAQ:RMR) last announced its quarterly earnings data 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 company had revenue of $145.63 million during the quarter, compared to the consensus estimate of $171.44 million. The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. Equities analysts anticipate that The RMR Group Inc. will post 0.69 EPS for the current fiscal year.

The RMR Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, July 20th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Monday, July 20th. The RMR Group’s dividend payout ratio is currently 148.76%.

Institutional Investors Weigh In On The RMR Group

A number of large investors have recently added to or reduced their stakes in RMR. Bank of America Corp DE raised its stake in shares of The RMR Group by 76.1% during the first quarter. Bank of America Corp DE now owns 941,252 shares of the financial services provider’s stock valued at $14,561,000 after acquiring an additional 406,888 shares during the last quarter. Quantinno Capital Management LP increased its holdings in The RMR Group by 16.3% during the 1st quarter. Quantinno Capital Management LP now owns 66,829 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 9,347 shares during the period. Flat Footed LLC raised its position in The RMR Group by 2.4% during the 1st quarter. Flat Footed LLC now owns 802,739 shares of the financial services provider’s stock valued at $12,418,000 after purchasing an additional 18,776 shares during the last quarter. State of Wyoming bought a new position in The RMR Group during the 1st quarter valued at approximately $137,000. Finally, First Trust Advisors LP lifted its holdings in The RMR Group by 19.1% in the 1st quarter. First Trust Advisors LP now owns 13,411 shares of the financial services provider’s stock worth $207,000 after buying an additional 2,147 shares during the period. Institutional investors own 42.31% of the company’s stock.

About The RMR Group

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.