Covestor Ltd Trims Stake in The RMR Group Inc. (NASDAQ:RMR)

Covestor Ltd lessened its holdings in The RMR Group Inc. (NASDAQ:RMR) by 19.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,045 shares of the financial services provider’s stock after selling 979 shares during the period. Covestor Ltd’s holdings in The RMR Group were worth $102,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of The RMR Group during the 1st quarter valued at $689,000. Garner Asset Management Corp boosted its holdings in shares of The RMR Group by 14.8% in the 2nd quarter. Garner Asset Management Corp now owns 282,528 shares of the financial services provider’s stock worth $6,385,000 after purchasing an additional 36,369 shares in the last quarter. Federated Hermes Inc. lifted its position in The RMR Group by 4.7% in the 2nd quarter. Federated Hermes Inc. now owns 527,826 shares of the financial services provider’s stock worth $11,929,000 after buying an additional 23,654 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in The RMR Group by 42.8% in the second quarter. Nisa Investment Advisors LLC now owns 8,029 shares of the financial services provider’s stock worth $181,000 after buying an additional 2,405 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in The RMR Group by 2,439.0% during the third quarter. International Assets Investment Management LLC now owns 1,041 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

The RMR Group Stock Performance

Shares of RMR opened at $22.77 on Wednesday. The RMR Group Inc. has a fifty-two week low of $22.01 and a fifty-two week high of $28.82. The firm has a market cap of $722.49 million, a price-to-earnings ratio of 15.18 and a beta of 1.26. The firm has a 50 day moving average price of $24.86 and a 200-day moving average price of $24.28.

The RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Monday, November 11th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The RMR Group had a return on equity of 6.95% and a net margin of 2.80%. The business had revenue of $212.30 million during the quarter, compared to the consensus estimate of $220.15 million. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities research analysts predict that The RMR Group Inc. will post 1.64 earnings per share for the current year.

The RMR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.91%. The ex-dividend date of this dividend is Monday, October 28th. The RMR Group’s dividend payout ratio is presently 120.00%.

The RMR Group Profile

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.