Los Angeles Capital Management LLC Purchases 23,321 Shares of The RMR Group Inc. (NASDAQ:RMR)

Los Angeles Capital Management LLC raised its stake in shares of The RMR Group Inc. (NASDAQ:RMR) by 29.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,827 shares of the financial services provider’s stock after buying an additional 23,321 shares during the quarter. Los Angeles Capital Management LLC owned about 0.32% of The RMR Group worth $2,468,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in The RMR Group by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,218 shares of the financial services provider’s stock valued at $6,753,000 after buying an additional 39,270 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of 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 worth $10,325,000 after purchasing an additional 71,549 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of The RMR Group by 31.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 37,290 shares of the financial services provider’s stock worth $1,053,000 after purchasing an additional 8,975 shares in the last quarter. Swiss National Bank grew its holdings in shares of The RMR Group by 2.1% during the third quarter. Swiss National Bank now owns 34,392 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 700 shares in the last quarter. Finally, Islay Capital Management LLC purchased a new position in shares of The RMR Group during the fourth quarter worth about $1,184,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Price Performance

Shares of RMR opened at $22.91 on Friday. The firm has a market cap of $726.93 million, a P/E ratio of 8.52 and a beta of 1.24. The stock has a 50 day simple moving average of $23.39 and a two-hundred day simple moving average of $24.64. The RMR Group Inc. has a 1 year low of $21.60 and a 1 year high of $28.82.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $217.75 million during the quarter, compared to analysts’ expectations of $238.20 million. The RMR Group had a return on equity of 7.35% and a net margin of 4.59%. On average, equities analysts anticipate that The RMR Group Inc. will post 1.67 earnings per share for the current year.

The RMR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd were given a $0.45 dividend. The ex-dividend date was Friday, April 19th. This represents a $1.80 annualized dividend and a yield of 7.86%. This is an increase from The RMR Group’s previous quarterly dividend of $0.40. The RMR Group’s payout ratio is presently 66.91%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. B. Riley cut their price objective on The RMR Group from $35.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. JMP Securities assumed coverage on The RMR Group in a report on Friday, April 19th. They set a “market perform” rating for the company.

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.