Truist Financial Corp Has $330,000 Stake in The RMR Group Inc. (NASDAQ:RMR)

Truist Financial Corp grew its holdings in shares of The RMR Group Inc. (NASDAQ:RMR) by 25.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,611 shares of the financial services provider’s stock after purchasing an additional 3,005 shares during the period. Truist Financial Corp’s holdings in The RMR Group were worth $330,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Meeder Asset Management Inc. increased its position in shares of The RMR Group by 327.6% in the second quarter. Meeder Asset Management Inc. now owns 2,677 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 2,051 shares during the period. Covestor Ltd increased its holdings in The RMR Group by 44.3% in the 1st quarter. Covestor Ltd now owns 3,940 shares of the financial services provider’s stock valued at $94,000 after buying an additional 1,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of The RMR Group by 56.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,595 shares of the financial services provider’s stock valued at $149,000 after buying an additional 2,378 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of The RMR Group by 75.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 6,445 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 2,780 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of The RMR Group by 42.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,029 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 2,405 shares in the last quarter. 42.31% of the stock is owned by institutional investors.

The RMR Group Price Performance

Shares of RMR opened at $25.30 on Friday. The firm has a 50 day simple moving average of $24.98 and a two-hundred day simple moving average of $24.15. The RMR Group Inc. has a one year low of $21.60 and a one year high of $28.82. The company has a market cap of $802.77 million, a P/E ratio of 16.87 and a beta of 1.26.

The RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The RMR Group had a return on equity of 6.95% and a net margin of 2.80%. The business had revenue of $205.48 million for the quarter, compared to analyst estimates of $227.68 million. During the same period last year, the firm posted $0.48 EPS. On average, analysts expect 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 will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be paid a $0.45 dividend. The ex-dividend date is Monday, October 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.11%. The RMR Group’s payout ratio is currently 120.00%.

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.