Principal Financial Group Inc. Takes $636,000 Position in The RMR Group Inc. $RMR

Principal Financial Group Inc. bought a new position in shares of The RMR Group Inc. (NASDAQ:RMR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,140 shares of the financial services provider’s stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMR. NewEdge Advisors LLC increased its position in The RMR Group by 313.1% in the 1st quarter. NewEdge Advisors LLC now owns 1,483 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,124 shares during the period. Quarry LP acquired a new stake in The RMR Group during the 3rd quarter worth approximately $36,000. State of Alaska Department of Revenue acquired a new stake in The RMR Group during the 4th quarter worth approximately $41,000. Strs Ohio purchased a new position in shares of The RMR Group in the 1st quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of The RMR Group by 442.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 2,513 shares during the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Stock Down 2.2%

Shares of The RMR Group stock opened at $19.04 on Friday. The RMR Group Inc. has a 52-week low of $14.27 and a 52-week high of $21.45. The company’s 50-day simple moving average is $20.33 and its 200-day simple moving average is $18.07. The firm has a market cap of $610.99 million, a price-to-earnings ratio of 15.74 and a beta of 1.05.

The RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $145.63 million during the quarter, compared to analyst estimates of $171.44 million. The RMR Group had a net margin of 3.23% and a return on equity of 3.44%. Equities research analysts anticipate that The RMR Group Inc. will post 0.69 EPS for the current year.

The RMR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Monday, July 20th. The RMR Group’s dividend payout ratio is 148.76%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RMR shares. Zacks Research raised The RMR Group from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised The RMR Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

About The RMR Group

The RMR Group, Inc (NASDAQ: RMR) is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.

Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.