The RMR Group Inc. (NASDAQ:RMR) Declares Dividend Increase – $0.45 Per Share

The RMR Group Inc. (NASDAQ:RMR) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Stockholders of record on Monday, April 22nd will be given a dividend of 0.45 per share by the financial services provider on Thursday, May 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date is Friday, April 19th. This is an increase from The RMR Group’s previous quarterly dividend of $0.40.

The RMR Group has raised its dividend by an average of 1.7% per year over the last three years. The RMR Group has a payout ratio of 85.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect The RMR Group to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 72.1%.

The RMR Group Price Performance

Shares of RMR stock opened at $23.25 on Wednesday. The RMR Group has a fifty-two week low of $20.79 and a fifty-two week high of $28.82. The stock’s 50-day moving average is $23.96 and its two-hundred day moving average is $24.69. The firm has a market cap of $737.26 million, a P/E ratio of 6.72 and a beta of 1.30.

The RMR Group (NASDAQ:RMR) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The firm had revenue of $261.67 million for the quarter, compared to the consensus estimate of $223.18 million. The RMR Group had a return on equity of 7.78% and a net margin of 5.93%. As a group, research analysts expect that The RMR Group will post 1.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RMR. State of Wyoming lifted its position in shares of The RMR Group by 78.7% in the 2nd quarter. State of Wyoming now owns 7,250 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 3,193 shares during the period. Citigroup Inc. grew its stake in The RMR Group by 18.4% during the first quarter. Citigroup Inc. now owns 5,971 shares of the financial services provider’s stock worth $157,000 after buying an additional 926 shares during the last quarter. Wells Fargo & Company MN grew its position in The RMR Group by 110.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,510 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 3,423 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in The RMR Group in the third quarter worth $114,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of The RMR Group by 2,538.4% during the first quarter. Envestnet Asset Management Inc. now owns 293,339 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 282,221 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

Analysts Set New Price Targets

RMR has been the subject of a number of recent research reports. TheStreet upgraded shares of The RMR Group from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. StockNews.com lowered The RMR Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th.

About The RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides asset management services in the United States. The company offers management services to its four publicly traded real estate investment trusts, three real estate operating companies, and private capital vehicles. It also provides advisory services to publicly traded mortgage real estate investment trust.