B. Riley Increases The RMR Group (NASDAQ:RMR) Price Target to $44.00

The RMR Group (NASDAQ:RMRGet Rating) had its price target upped by B. Riley from $42.00 to $44.00 in a research note published on Friday morning, The Fly reports. B. Riley also issued estimates for The RMR Group’s Q3 2022 earnings at $0.58 EPS, Q4 2022 earnings at $0.57 EPS, FY2022 earnings at $2.11 EPS, Q1 2023 earnings at $0.60 EPS, Q2 2023 earnings at $0.55 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.57 EPS, FY2023 earnings at $2.30 EPS and FY2024 earnings at $2.32 EPS.

A number of other equities research analysts also recently weighed in on the company. StockNews.com assumed coverage on The RMR Group in a research report on Thursday, March 31st. They set a buy rating for the company. Morgan Stanley dropped their target price on The RMR Group from $39.00 to $32.00 and set an equal weight rating for the company in a research report on Monday, April 25th. TheStreet downgraded The RMR Group from a b- rating to a c+ rating in a research report on Friday, February 4th. Finally, Zacks Investment Research upgraded The RMR Group from a sell rating to a hold rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $39.20.

The RMR Group stock traded up $0.51 on Friday, reaching $28.29. The company’s stock had a trading volume of 124,281 shares, compared to its average volume of 81,729. The company has a market cap of $890.85 million, a price-to-earnings ratio of 12.86 and a beta of 1.61. The business’s fifty day moving average price is $29.47 and its 200 day moving average price is $31.94. The RMR Group has a twelve month low of $26.82 and a twelve month high of $47.12.

The RMR Group (NASDAQ:RMRGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The RMR Group had a return on equity of 8.32% and a net margin of 5.20%. During the same period last year, the business posted $0.37 earnings per share. As a group, equities research analysts forecast that The RMR Group will post 2.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Monday, April 25th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Friday, April 22nd. This is an increase from The RMR Group’s previous quarterly dividend of $0.38. The RMR Group’s dividend payout ratio is currently 72.73%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMR. Morgan Stanley increased its holdings in The RMR Group by 164.2% in the second 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 during the last quarter. SG Americas Securities LLC bought a new stake in The RMR Group in the third quarter valued at about $306,000. Principal Financial Group Inc. grew its stake in The RMR Group by 16.0% in the third quarter. Principal Financial Group Inc. now owns 17,363 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 2,391 shares during the period. Barclays PLC grew its stake in The RMR Group by 190.2% in the third quarter. Barclays PLC now owns 7,133 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 4,675 shares during the period. Finally, Alliancebernstein L.P. grew its stake in The RMR Group by 154.5% in the third quarter. Alliancebernstein L.P. now owns 28,704 shares of the financial services provider’s stock valued at $960,000 after acquiring an additional 17,426 shares during the period. Institutional investors and hedge funds own 42.77% 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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