The RMR Group (NASDAQ:RMR) Downgraded by StockNews.com

StockNews.com cut shares of The RMR Group (NASDAQ:RMR) from a buy rating to a hold rating in a research report released on Friday morning.

Separately, B. Riley reissued a buy rating and set a $37.00 price target on shares of The RMR Group in a report on Wednesday, August 23rd.

The RMR Group Stock Down 1.9 %

The RMR Group stock opened at $23.78 on Friday. The business’s 50-day simple moving average is $23.78 and its 200 day simple moving average is $23.49. The RMR Group has a 12-month low of $20.79 and a 12-month high of $31.55. The stock has a market cap of $751.69 million, a price-to-earnings ratio of 6.95 and a beta of 1.41.

The RMR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend was Friday, October 20th. The RMR Group’s payout ratio is currently 46.78%.

Hedge Funds Weigh In On The RMR Group

Several hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of The RMR Group by 7.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 62,958 shares of the financial services provider’s stock worth $1,544,000 after purchasing an additional 4,182 shares during the last quarter. Legal & General Group Plc grew its stake in The RMR Group by 37.3% during the 3rd quarter. Legal & General Group Plc now owns 14,103 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 3,832 shares in the last quarter. Alps Advisors Inc. purchased a new stake in The RMR Group during the 3rd quarter valued at about $337,000. Quadrature Capital Ltd grew its stake in shares of The RMR Group by 74.0% in the 3rd quarter. Quadrature Capital Ltd now owns 18,141 shares of the financial services provider’s stock valued at $445,000 after buying an additional 7,717 shares during the period. Finally, MBB Public Markets I LLC purchased a new stake in shares of The RMR Group in the 3rd quarter valued at approximately $339,000. 38.51% of the stock is currently owned by institutional investors.

About The RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. The company offers management services to its four publicly traded real estate investment trusts and three real estate operating companies. It also provides investment advisory and administrative services.