Simplicity Wealth LLC Buys Shares of 14,881 The RMR Group Inc. (NASDAQ:RMR)

Simplicity Wealth LLC bought a new position in shares of The RMR Group Inc. (NASDAQ:RMR) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 14,881 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of The RMR Group by 2,724.2% during the 4th quarter. International Assets Investment Management LLC now owns 932 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 899 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of The RMR Group during the fourth quarter worth $62,000. Tower Research Capital LLC TRC raised its holdings in shares of The RMR Group by 92.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,482 shares during the period. Public Employees Retirement System of Ohio lifted its position in The RMR Group by 912.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,665 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 3,303 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The RMR Group by 26.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,217 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 874 shares during the period. 42.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. B. Riley cut their price target on The RMR Group from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. StockNews.com downgraded The RMR Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, JMP Securities began coverage on shares of The RMR Group in a report on Friday, April 19th. They issued a “market perform” rating on the stock.

The RMR Group Stock Performance

RMR traded down $0.35 on Wednesday, hitting $23.67. 40,257 shares of the company were exchanged, compared to its average volume of 88,232. The stock’s fifty day moving average is $23.59 and its 200-day moving average is $24.75. The RMR Group Inc. has a 12 month low of $21.28 and a 12 month high of $28.82. The company has a market cap of $751.05 million, a PE ratio of 8.80 and a beta of 1.29.

The RMR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend was Friday, April 19th. This is an increase from The RMR Group’s previous quarterly dividend of $0.40. The RMR Group’s dividend payout ratio is presently 66.91%.

The RMR Group 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.