Aviance Capital Partners LLC Buys 26,536 Shares of The RMR Group Inc. $RMR

Aviance Capital Partners LLC grew its stake in shares of The RMR Group Inc. (NASDAQ:RMR) by 41.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,134 shares of the financial services provider’s stock after buying an additional 26,536 shares during the period. Aviance Capital Partners LLC owned 0.28% of The RMR Group worth $1,394,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in shares of The RMR Group by 313.1% in the first quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,124 shares during the period. Quarry LP bought a new stake in shares of The RMR Group during the 3rd quarter valued at $36,000. State of Alaska Department of Revenue bought a new stake in shares of The RMR Group during the 4th quarter valued at $41,000. Tower Research Capital LLC TRC lifted its stake in shares of The RMR Group by 442.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider’s stock valued at $50,000 after buying an additional 2,513 shares in the last quarter. Finally, Strs Ohio bought a new position in The RMR Group in the 1st quarter worth $50,000. 42.31% of the stock is currently owned by institutional investors.

The RMR Group Stock Down 1.9%

Shares of RMR stock opened at $20.64 on Friday. The company’s fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $17.76. The RMR Group Inc. has a 52 week low of $14.27 and a 52 week high of $21.45. The stock has a market cap of $662.34 million, a P/E ratio of 17.06 and a beta of 1.05.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The RMR Group had a return on equity of 3.44% and a net margin of 3.23%.The firm had revenue of $145.63 million during the quarter, compared to the consensus estimate of $171.44 million. On average, analysts anticipate that The RMR Group Inc. will post 0.69 EPS for the current fiscal year.

The RMR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Monday, July 20th. The RMR Group’s dividend payout ratio is 148.76%.

Wall Street Analysts Forecast Growth

RMR has been the topic of several research analyst reports. Weiss Ratings upgraded The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Zacks Research upgraded The RMR Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

About The RMR Group

The RMR Group, Inc (NASDAQ: RMR) is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.

Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.