Summit Global Investments Sells 5,549 Shares of The RMR Group Inc. (NASDAQ:RMR)

Summit Global Investments decreased its position in The RMR Group Inc. (NASDAQ:RMR) by 34.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,348 shares of the financial services provider’s stock after selling 5,549 shares during the quarter. Summit Global Investments’ holdings in The RMR Group were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMR. International Assets Investment Management LLC boosted its holdings in shares of The RMR Group by 2,724.2% in the 4th quarter. International Assets Investment Management LLC now owns 932 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 899 shares during the period. Meeder Asset Management Inc. purchased a new position in The RMR Group during the fourth quarter worth $62,000. Asset Management One Co. Ltd. purchased a new stake in shares of The RMR Group in the third quarter valued at $56,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The RMR Group by 26.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,217 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 874 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of The RMR Group during the 4th quarter worth about $155,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Price Performance

Shares of RMR stock opened at $24.11 on Tuesday. The company’s 50-day simple moving average is $23.57 and its two-hundred day simple moving average is $24.65. The RMR Group Inc. has a one year low of $20.79 and a one year high of $28.82. The company has a market capitalization of $764.53 million, a P/E ratio of 6.97 and a beta of 1.29.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The RMR Group had a return on equity of 7.78% and a net margin of 5.93%. The business had revenue of $261.67 million during the quarter, compared to analyst estimates of $223.18 million. On average, research analysts expect that The RMR Group Inc. will post 1.92 EPS for the current fiscal year.

The RMR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.45 per share. This is an increase from The RMR Group’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, April 19th. This represents a $1.80 dividend on an annualized basis and a yield of 7.47%. The RMR Group’s dividend payout ratio (DPR) is 52.02%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com lowered The RMR Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. JMP Securities started coverage on The RMR Group in a research report on Friday, April 19th. They issued a “market perform” rating on the stock.

The RMR Group Company 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.