RMR Group Inc (NASDAQ:RMR) Sees Large Increase in Short Interest

RMR Group Inc (NASDAQ:RMR) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 798,800 shares, an increase of 29.4% from the July 31st total of 617,400 shares. Currently, 5.3% of the shares of the company are sold short. Based on an average trading volume of 221,000 shares, the short-interest ratio is presently 3.6 days.

In other RMR Group news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of RMR Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.00, for a total transaction of $105,496,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 55.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its holdings in RMR Group by 104.3% in the 1st quarter. Bank of Montreal Can now owns 672 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Ellington Management Group LLC increased its holdings in RMR Group by 11.1% in the 2nd quarter. Ellington Management Group LLC now owns 5,000 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE increased its holdings in RMR Group by 333.5% in the 2nd quarter. US Bancorp DE now owns 698 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 537 shares in the last quarter. Capital Fund Management S.A. increased its holdings in RMR Group by 13.7% in the 2nd quarter. Capital Fund Management S.A. now owns 5,800 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 700 shares in the last quarter. Finally, Globeflex Capital L P increased its holdings in RMR Group by 4.2% in the 1st quarter. Globeflex Capital L P now owns 18,699 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 754 shares in the last quarter. 47.20% of the stock is owned by institutional investors.

NASDAQ RMR traded down $0.33 on Friday, hitting $47.67. The company had a trading volume of 2,003 shares, compared to its average volume of 104,550. The company has a market capitalization of $1.51 billion, a PE ratio of 20.44 and a beta of 1.22. The company’s fifty day moving average price is $46.48 and its 200-day moving average price is $53.84. RMR Group has a 12-month low of $41.69 and a 12-month high of $97.55.

RMR Group (NASDAQ:RMR) last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $143.72 million during the quarter, compared to analysts’ expectations of $133.10 million. RMR Group had a return on equity of 15.50% and a net margin of 12.02%. As a group, equities research analysts predict that RMR Group will post 4.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 29th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, July 26th. RMR Group’s payout ratio is presently 60.09%.

Several analysts have commented on RMR shares. Zacks Investment Research cut shares of RMR Group from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. CIBC upgraded shares of RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Monday, July 1st. Citigroup started coverage on shares of RMR Group in a research note on Wednesday, September 4th. They set a “neutral” rating and a $46.00 price objective for the company. BidaskClub upgraded shares of RMR Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Oppenheimer raised shares of RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.50.

About RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.

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