Macquarie Group Ltd. Sells 605 Shares of RMR Group Inc (RMR)
Macquarie Group Ltd. lessened its holdings in RMR Group Inc (NASDAQ:RMR) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 908 shares of the financial services provider’s stock after selling 605 shares during the quarter. Macquarie Group Ltd.’s holdings in RMR Group were worth $48,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Braun Bostich & Associates Inc. grew its holdings in RMR Group by 97.3% in the fourth quarter. Braun Bostich & Associates Inc. now owns 2,024 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 998 shares during the period. IMS Capital Management purchased a new stake in RMR Group in the third quarter worth about $131,000. Metropolitan Life Insurance Co. NY grew its holdings in RMR Group by 377.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,584 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,043 shares during the period. Legal & General Group Plc grew its holdings in RMR Group by 5.1% in the fourth quarter. Legal & General Group Plc now owns 3,483 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 168 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in RMR Group in the fourth quarter worth about $224,000. Institutional investors and hedge funds own 18.82% of the company’s stock.
Shares of RMR Group stock opened at $58.02 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of 24.90 and a beta of 1.26. RMR Group Inc has a twelve month low of $51.80 and a twelve month high of $98.00.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 29th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $1.40 annualized dividend and a yield of 2.41%. RMR Group’s payout ratio is presently 60.09%.
RMR has been the topic of a number of recent analyst reports. TheStreet upgraded shares of RMR Group from a “c+” rating to a “b” rating in a report on Friday, January 25th. Zacks Investment Research upgraded shares of RMR Group from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Thursday, March 21st. Oppenheimer reiterated a “hold” rating on shares of RMR Group in a report on Friday, April 12th. ValuEngine cut shares of RMR Group from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Finally, BidaskClub cut shares of RMR Group from a “sell” rating to a “strong sell” rating in a report on Saturday, March 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. RMR Group has a consensus rating of “Hold” and a consensus target price of $80.50.
RMR Group Profile
The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.
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