Shares of RMR Group Inc (NASDAQ:RMR) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $52.29.
Several research analysts have recently weighed in on RMR shares. B. Riley started coverage on shares of RMR Group in a research note on Monday, November 25th. They set a “buy” rating and a $66.00 price target on the stock. Bank of America started coverage on shares of RMR Group in a research note on Monday, September 16th. They set an “underperform” rating on the stock. Citigroup started coverage on shares of RMR Group in a research note on Wednesday, September 4th. They set a “neutral” rating and a $46.00 price target on the stock. BidaskClub cut shares of RMR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Zacks Investment Research cut shares of RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of RMR Group by 93.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,039,460 shares of the financial services provider’s stock valued at $95,814,000 after buying an additional 982,739 shares in the last quarter. Zimmer Partners LP lifted its stake in shares of RMR Group by 18.9% during the 3rd quarter. Zimmer Partners LP now owns 742,880 shares of the financial services provider’s stock valued at $33,786,000 after buying an additional 117,880 shares in the last quarter. Engine Capital Management LP purchased a new position in shares of RMR Group during the 2nd quarter valued at $34,295,000. BlackRock Inc. lifted its stake in shares of RMR Group by 4.8% during the 2nd quarter. BlackRock Inc. now owns 500,139 shares of the financial services provider’s stock valued at $23,497,000 after buying an additional 22,940 shares in the last quarter. Finally, Indaba Capital Management L.P. purchased a new position in shares of RMR Group during the 2nd quarter valued at $23,490,000. Institutional investors own 41.31% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, October 25th. This is a boost from RMR Group’s previous quarterly dividend of $0.35. RMR Group’s dividend payout ratio (DPR) is currently 31.47%.
About RMR Group
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.
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