The RMR Group Inc. (NASDAQ:RMR – Get Rating) announced a quarterly dividend on Thursday, April 14th, Zacks reports. Shareholders of record on Monday, April 25th will be given a dividend of 0.40 per share by the financial services provider on Thursday, May 19th. This represents a $1.60 annualized dividend and a yield of 5.32%. The ex-dividend date is Friday, April 22nd. This is a boost from The RMR Group’s previous quarterly dividend of $0.38.
The RMR Group has a dividend payout ratio of 78.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect The RMR Group to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 79.2%.
NASDAQ:RMR opened at $30.10 on Friday. The RMR Group has a one year low of $27.81 and a one year high of $47.12. The firm has a market cap of $947.85 million, a price-to-earnings ratio of 14.27 and a beta of 1.65. The firm’s fifty day moving average is $30.04 and its two-hundred day moving average is $32.76.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of The RMR Group from a “sell” rating to a “hold” rating in a research report on Friday, January 7th. StockNews.com initiated coverage on shares of The RMR Group in a research note on Thursday, March 31st. They issued a “buy” rating for the company. TheStreet cut shares of The RMR Group from a “b-” rating to a “c+” rating in a research note on Friday, February 4th. Finally, Morgan Stanley lowered their price objective on shares of The RMR Group from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, The RMR Group currently has a consensus rating of “Hold” and a consensus target price of $40.60.
Several institutional investors and hedge funds have recently made changes to their positions in RMR. Morgan Stanley raised its holdings in shares of The RMR Group by 164.2% in the 2nd quarter. Morgan Stanley now owns 51,665 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 32,107 shares in the last quarter. JPMorgan Chase & Co. raised its stake in The RMR Group by 123.7% during the 4th quarter. JPMorgan Chase & Co. now owns 44,139 shares of the financial services provider’s stock worth $1,531,000 after acquiring an additional 24,408 shares in the last quarter. Goldman Sachs Group Inc. grew its position in The RMR Group by 32.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 67,603 shares of the financial services provider’s stock worth $2,344,000 after purchasing an additional 16,547 shares during the last quarter. Millennium Management LLC purchased a new position in The RMR Group during the 4th quarter worth $543,000. Finally, Barclays PLC increased its stake in shares of The RMR Group by 159.7% during the fourth quarter. Barclays PLC now owns 18,523 shares of the financial services provider’s stock worth $642,000 after acquiring an additional 11,390 shares during the period. Institutional investors and hedge funds own 42.50% 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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