The RMR Group Inc. (NASDAQ:RMR) Shares Purchased by Garner Asset Management Corp

Garner Asset Management Corp boosted its position in shares of The RMR Group Inc. (NASDAQ:RMR) by 14.8% in the second quarter, Holdings Channel reports. The firm owned 282,528 shares of the financial services provider’s stock after purchasing an additional 36,369 shares during the period. The RMR Group accounts for 3.1% of Garner Asset Management Corp’s investment portfolio, making the stock its 4th biggest holding. Garner Asset Management Corp’s holdings in The RMR Group were worth $6,385,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in The RMR Group by 203.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,048 shares of the financial services provider’s stock valued at $1,513,000 after purchasing an additional 42,288 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in The RMR Group by 19.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,218 shares of the financial services provider’s stock valued at $6,753,000 after purchasing an additional 39,270 shares during the period. Wasatch Advisors LP grew its holdings in The RMR Group by 24.3% during the fourth quarter. Wasatch Advisors LP now owns 365,730 shares of the financial services provider’s stock valued at $10,325,000 after purchasing an additional 71,549 shares during the period. Janney Montgomery Scott LLC bought a new position in The RMR Group in the first quarter valued at approximately $689,000. Finally, Pacific Ridge Capital Partners LLC lifted its stake in The RMR Group by 31.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 37,290 shares of the financial services provider’s stock valued at $1,053,000 after buying an additional 8,975 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

The RMR Group Stock Performance

Shares of RMR opened at $25.14 on Thursday. The RMR Group Inc. has a twelve month low of $21.60 and a twelve month high of $28.82. The firm’s 50 day moving average price is $24.90 and its two-hundred day moving average price is $23.89. The firm has a market cap of $797.72 million, a P/E ratio of 9.35 and a beta of 1.26.

The RMR Group (NASDAQ:RMR) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The RMR Group had a net margin of 2.80% and a return on equity of 6.95%. The company had revenue of $205.48 million during the quarter, compared to the consensus estimate of $227.68 million. During the same period in the previous year, the firm posted $0.48 EPS. On average, sell-side analysts anticipate that The RMR Group Inc. will post 1.64 earnings per share for the current fiscal year.

The RMR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Monday, July 22nd. The RMR Group’s payout ratio is currently 66.91%.

About The RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides asset management services in the United States. The company offers management services to its four publicly traded real estate investment trusts, three real estate operating companies, and private capital vehicles. It also provides advisory services to publicly traded mortgage real estate investment trust.