Equities Analysts Offer Predictions for The RMR Group Inc.’s Q3 2023 Earnings (NASDAQ:RMR)

The RMR Group Inc. (NASDAQ:RMRGet Rating) – Investment analysts at B. Riley reduced their Q3 2023 EPS estimates for shares of The RMR Group in a research report issued to clients and investors on Monday, November 21st. B. Riley analyst B. Maher now anticipates that the financial services provider will post earnings of $0.53 per share for the quarter, down from their prior forecast of $0.58. The consensus estimate for The RMR Group’s current full-year earnings is $2.23 per share. B. Riley also issued estimates for The RMR Group’s Q1 2024 earnings at $0.56 EPS, Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $0.56 EPS and Q4 2024 earnings at $0.59 EPS.

RMR has been the topic of a number of other research reports. StockNews.com upgraded shares of The RMR Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. Oppenheimer reaffirmed a “market perform” rating on shares of The RMR Group in a report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.33.

The RMR Group Trading Up 1.4 %

NASDAQ:RMR opened at $28.49 on Tuesday. The firm has a fifty day simple moving average of $26.01 and a 200-day simple moving average of $27.40. The company has a market capitalization of $900.45 million, a P/E ratio of 13.76 and a beta of 1.49. The RMR Group has a 12 month low of $23.00 and a 12 month high of $36.85.

Institutional Trading of The RMR Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its holdings in shares of The RMR Group by 197.8% in the second quarter. Los Angeles Capital Management LLC now owns 31,768 shares of the financial services provider’s stock valued at $901,000 after acquiring an additional 21,099 shares during the period. Assenagon Asset Management S.A. boosted its stake in The RMR Group by 39.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 172,005 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 48,582 shares during the period. Martingale Asset Management L P increased its stake in The RMR Group by 235.6% in the first quarter. Martingale Asset Management L P now owns 22,883 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 16,064 shares during the period. Garner Asset Management Corp raised its holdings in shares of The RMR Group by 147.5% in the second quarter. Garner Asset Management Corp now owns 222,404 shares of the financial services provider’s stock valued at $6,305,000 after buying an additional 132,561 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of The RMR Group in the first quarter valued at about $60,000. 40.65% of the stock is currently owned by institutional investors and hedge funds.

The RMR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, October 24th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.62%. The ex-dividend date was Friday, October 21st. This is a boost from The RMR Group’s previous quarterly dividend of $0.30. The RMR Group’s payout ratio is 77.29%.

About The RMR Group

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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.

Further Reading

Earnings History and Estimates for The RMR Group (NASDAQ:RMR)

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