As of the first quarter of this year, the State Board of Administration of Florida Retirement System has purchased a new stake in shares of The RMR Group Inc. (NASDAQ:RMR), according to its latest disclosure with the Securities and Exchange Commission. The fund acquired 32,936 shares of the financial services provider’s stock, valued at approximately $864,000. This investment represents approximately 0.10% ownership of The RMR Group for the State Board of Administration of Florida Retirement System at the time of its most recent SEC filing.
On Wednesday, August 9th, The RMR Group announced its earnings results for the same quarter. The financial services provider reported earnings per share (EPS) of $0.48, surpassing the consensus estimate by $0.01. Additionally, The RMR Group achieved a return on equity of 8.78% and a net margin of 6.26%. Furthermore, the company generated revenue amounting to $280.23 million during that quarter, exceeding analyst estimates which projected revenue at $220.13 million.
Moving forward, analysts anticipate that The RMR Group Inc. will post an EPS figure of 1.92 for the current fiscal year.
For more detailed analysis and information regarding The RMR Group’s stock performance, investors can refer to our latest stock analysis report on this particular company.
It is worth noting that this article is based on information available as at September 22nd, 2023 which may be subject to change or further updates in subsequent disclosures or reports made by The RMR Group or other relevant entities in compliance with regulatory requirements such as those set forth by the Securities and Exchange Commission.
Investors interested in obtaining accurate and up-to-date information about investment opportunities should conduct their due diligence and consult professional advisors before making any investment decisions based on this article alone.
Disclaimer: This article does not constitute financial advice or a recommendation to buy or sell securities. The information provided is for informational purposes only and should not be relied upon as the basis for making any financial decisions.
The RMR Group Inc.
Updated on: 07/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
9:00 AM (UTC)
Date:07 December, 2023
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The RMR Group Gains Attention from Institutional Investors and Hedge Funds, Demonstrating Confidence in Growth Potential
The RMR Group, a financial services provider, has attracted the attention of various institutional investors and hedge funds. These investors have been actively buying and selling shares of the company, which has generated significant interest in the market.
One notable investor is Teachers Retirement System of The State of Kentucky, who recently acquired a new stake in The RMR Group during the third quarter. This stake was valued at $30,000, indicating their confidence in the company’s potential for growth and profitability.
Tower Research Capital LLC TRC also increased its position in shares of The RMR Group by an impressive 930.3% during the first quarter. They now own 1,226 shares of the company’s stock worth $32,000 after acquiring an additional 1,107 shares in the last quarter. This demonstrates Tower Research Capital LLC TRC’s strong belief in The RMR Group’s long-term prospects.
Moreover, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main entered the market by purchasing shares of The RMR Group in the second quarter valued at $34,000. This move indicates that this bank sees potential value in investing in the company and wants to take advantage of any future growth opportunities.
In addition to these institutional investors, CWM LLC significantly increased its position in shares of The RMR Group by 1,636.9% during the first quarter. They now own 1,928 shares of the company’s stock worth $51,000 after acquiring an additional 1,817 shares in the last quarter. This substantial increase reflects CWM LLC’s confidence and optimism about The RMR Group’s performance.
Envestnet Asset Management Inc., another notable investor, raised its position in shares of The RMR Group by a staggering 2,538.4% during the first quarter. They now hold a substantial number of shares (293,339) with a total worth of $90,000 after acquiring an additional 282,221 shares in the last quarter. Envestnet Asset Management’s high level of investment indicates their belief in The RMR Group’s reliability and growth potential.
It is worth noting that 38.51% of The RMR Group’s stock is owned by institutional investors, which highlights the company’s attractiveness to this investor group. The support and interest shown by these investors further solidifies The RMR Group’s position in the market.
Shares of The RMR Group, listed on NASDAQ under ticker symbol “RMR,” opened at $25.25 on Friday. Over the past 50 days, the stock has displayed a moving average of $24.09, while its 200-day moving average stands at $24.02. This shows that the stock price has remained relatively stable over recent months.
The company holds a market capitalization of approximately $798.15 million and boasts a favorable price-to-earnings (P/E) ratio of 6.84, indicating its financial strength and stability. Additionally, with a beta value of 1.45, The RMR Group exhibits slightly higher volatility compared to the broader market.
In terms of dividends, The RMR Group recently announced a quarterly dividend payment for its shareholders. On Thursday, August 17th, shareholders who were recorded as owners on Monday, July 24th received a dividend amounting to $0.40 per share. This represents an increase from the company’s previous quarterly dividend of $0.30 per share and results in an annualized dividend yield of 6.34%. Such consistent dividend payments demonstrate the company’s commitment to returning value to its shareholders.
The growing interest in The RMR Group has attracted attention from various research reports as well. For instance, StockNews.com initiated coverage on The RMR Group and issued a “buy” rating for the company on Thursday, August 17th. B. Riley, another research firm, also reconfirmed its “buy” rating on the company’s shares and set a price target of $37.00 on Wednesday, August 23rd.
Overall, The RMR Group seems to be attracting significant attention from institutional investors and hedge funds due to its strong financial performance, stability, and potential for growth. With positive ratings and price targets from reputable research reports, the company is well-positioned to capitalize on its momentum in the market.