The RMR Group (NASDAQ:RMR) Given New $44.00 Price Target at B. Riley

The RMR Group (NASDAQ:RMRGet Rating) had its price objective increased 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.

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

NASDAQ:RMR traded up $0.51 during trading hours on Friday, hitting $28.29. 124,281 shares of the company traded hands, compared to its average volume of 81,729. The firm’s 50-day simple moving average is $29.47 and its 200-day simple moving average is $31.94. The RMR Group has a one year low of $26.82 and a one year high of $47.12. The company has a market cap of $890.85 million, a PE ratio of 12.86 and a beta of 1.61.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Stockholders of record on Monday, April 25th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Friday, April 22nd. This is a positive change from The RMR Group’s previous quarterly dividend of $0.38. The RMR Group’s dividend payout ratio (DPR) is presently 72.73%.

Several large investors have recently made changes to their positions in RMR. Morgan Stanley grew its holdings in shares of The RMR Group by 164.2% during the 2nd quarter. Morgan Stanley now owns 51,665 shares of the financial services provider’s stock worth $1,998,000 after purchasing an additional 32,107 shares in the last quarter. SG Americas Securities LLC acquired a new stake in The RMR Group in the 3rd quarter valued at $306,000. Principal Financial Group Inc. boosted its stake in The RMR Group by 16.0% in the 3rd quarter. Principal Financial Group Inc. now owns 17,363 shares of the financial services provider’s stock valued at $581,000 after buying an additional 2,391 shares in the last quarter. Barclays PLC boosted its stake in The RMR Group by 190.2% in the 3rd quarter. Barclays PLC now owns 7,133 shares of the financial services provider’s stock valued at $238,000 after buying an additional 4,675 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in The RMR Group by 154.5% in the 3rd quarter. Alliancebernstein L.P. now owns 28,704 shares of the financial services provider’s stock valued at $960,000 after buying an additional 17,426 shares in the last quarter. 42.77% of the stock is currently owned by institutional investors.

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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