Covestor Ltd Sells 979 Shares of The RMR Group Inc. (NASDAQ:RMR)

Covestor Ltd cut its holdings in The RMR Group Inc. (NASDAQ:RMR) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,045 shares of the financial services provider’s stock after selling 979 shares during the period. Covestor Ltd’s holdings in The RMR Group were worth $102,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new position in shares of The RMR Group during the 3rd quarter valued at approximately $469,000. Harbor Capital Advisors Inc. grew its stake in shares of The RMR Group by 124.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,329 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 18,493 shares during the period. Janney Montgomery Scott LLC increased its holdings in The RMR Group by 2.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 30,102 shares of the financial services provider’s stock worth $764,000 after acquiring an additional 817 shares during the last quarter. BayBridge Capital Group LLC raised its stake in The RMR Group by 9.0% in the 3rd quarter. BayBridge Capital Group LLC now owns 20,156 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 1,656 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in The RMR Group by 2,439.0% during the third quarter. International Assets Investment Management LLC now owns 1,041 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

The RMR Group Stock Down 6.8 %

RMR opened at $22.77 on Wednesday. The company has a market capitalization of $722.49 million, a price-to-earnings ratio of 15.18 and a beta of 1.26. The firm has a 50-day moving average price of $24.86 and a 200-day moving average price of $24.28. The RMR Group Inc. has a twelve month low of $22.01 and a twelve month high of $28.82.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Monday, November 11th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The RMR Group had a net margin of 2.80% and a return on equity of 6.95%. The business had revenue of $212.30 million for the quarter, compared to the consensus estimate of $220.15 million. During the same period in the previous year, the firm earned $0.48 EPS. On average, sell-side analysts expect that The RMR Group Inc. will post 1.64 earnings per share for the current fiscal year.

The RMR Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date is Monday, October 28th. The RMR Group’s payout ratio is presently 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.