Sei Investments Co. increased its stake in shares of RMR Group Inc (NYSE:RMR) by 46.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,110 shares of the financial services provider’s stock after acquiring an additional 1,941 shares during the quarter. Sei Investments Co.’s holdings in RMR Group were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of RMR. State Board of Administration of Florida Retirement System purchased a new position in shares of RMR Group in the first quarter worth $208,000. American International Group Inc. increased its position in RMR Group by 7.1% during the first quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 281 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in RMR Group during the first quarter valued at $216,000. Bank of America Corp DE increased its position in RMR Group by 1.2% during the first quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 59 shares during the last quarter. Finally, Rational Advisors LLC purchased a new stake in RMR Group during the first quarter valued at $297,000.
Shares of RMR Group Inc (NYSE RMR) traded down 1.09% during midday trading on Friday, reaching $49.95. The company’s stock had a trading volume of 28,044 shares. RMR Group Inc has a one year low of $33.90 and a one year high of $55.10. The stock’s 50 day moving average price is $49.08 and its 200 day moving average price is $49.86. The firm has a market cap of $803.90 million and a price-to-earnings ratio of 18.05.
RMR Group (NYSE:RMR) last issued its earnings results on Wednesday, August 9th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.02). The company had revenue of $55.50 million for the quarter, compared to analyst estimates of $54.65 million. RMR Group had a return on equity of 18.72% and a net margin of 31.72%. Analysts predict that RMR Group Inc will post $2.78 earnings per share for the current year.
Several analysts have issued reports on RMR shares. Canaccord Genuity set a $72.00 price target on RMR Group and gave the company a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered RMR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. RMR Group currently has an average rating of “Hold” and an average price target of $58.00.
RMR Group Profile
The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.
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