Millennium Management LLC Increases Position in RMR Group Inc (NASDAQ:RMR)

Millennium Management LLC lifted its stake in RMR Group Inc (NASDAQ:RMR) by 1,085.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,494 shares of the financial services provider’s stock after acquiring an additional 137,804 shares during the period. Millennium Management LLC owned 0.48% of RMR Group worth $6,844,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trexquant Investment LP purchased a new position in RMR Group in the second quarter worth $279,000. Mackay Shields LLC lifted its holdings in shares of RMR Group by 121.9% during the 3rd quarter. Mackay Shields LLC now owns 75,179 shares of the financial services provider’s stock valued at $3,419,000 after purchasing an additional 41,300 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of RMR Group by 789.1% during the 2nd quarter. Citadel Advisors LLC now owns 67,106 shares of the financial services provider’s stock valued at $3,152,000 after purchasing an additional 59,558 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of RMR Group by 1,161.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,056 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Engine Capital Management LP acquired a new stake in shares of RMR Group in the 2nd quarter worth $34,295,000. Hedge funds and other institutional investors own 41.20% of the company’s stock.

Shares of RMR opened at $46.68 on Tuesday. The firm has a market capitalization of $1.47 billion, a PE ratio of 9.66 and a beta of 1.17. RMR Group Inc has a 1-year low of $41.69 and a 1-year high of $77.83. The company’s fifty day moving average price is $47.46 and its 200-day moving average price is $47.30.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.26%. This is an increase from RMR Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, October 25th. RMR Group’s dividend payout ratio is presently 31.47%.

Several research analysts recently issued reports on RMR shares. ValuEngine raised RMR Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley initiated coverage on RMR Group in a research note on Monday, October 21st. They issued an “equal weight” rating and a $46.00 price target for the company. UBS Group started coverage on RMR Group in a report on Friday, October 11th. They issued a “neutral” rating and a $46.00 price target for the company. Zacks Investment Research lowered RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Bank of America assumed coverage on shares of RMR Group in a report on Monday, September 16th. They set an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.25.

RMR Group Company Profile

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.

Further Reading: What is the Stochastic Momentum Index (SMI)?

Institutional Ownership by Quarter for RMR Group (NASDAQ:RMR)

Receive News & Ratings for RMR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RMR Group and related companies with MarketBeat.com's FREE daily email newsletter.