Exchange Traded Concepts LLC Sells 2,737 Shares of The RMR Group Inc. (NASDAQ:RMR)

Exchange Traded Concepts LLC lessened its stake in The RMR Group Inc. (NASDAQ:RMR) by 18.5% during the third quarter, Holdings Channel reports. The firm owned 12,051 shares of the financial services provider’s stock after selling 2,737 shares during the period. Exchange Traded Concepts LLC’s holdings in The RMR Group were worth $306,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in The RMR Group by 203.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,048 shares of the financial services provider’s stock valued at $1,513,000 after buying an additional 42,288 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of The RMR Group during the 1st quarter valued at approximately $689,000. Garner Asset Management Corp increased its stake in shares of The RMR Group by 14.8% during the 2nd quarter. Garner Asset Management Corp now owns 282,528 shares of the financial services provider’s stock worth $6,385,000 after purchasing an additional 36,369 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of The RMR Group by 4.7% in the 2nd quarter. Federated Hermes Inc. now owns 527,826 shares of the financial services provider’s stock worth $11,929,000 after purchasing an additional 23,654 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in The RMR Group by 42.8% in the second quarter. Nisa Investment Advisors LLC now owns 8,029 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 2,405 shares during the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

The RMR Group Price Performance

Shares of NASDAQ RMR opened at $25.30 on Monday. The stock has a market capitalization of $802.79 million, a PE ratio of 9.41 and a beta of 1.26. The RMR Group Inc. has a one year low of $21.60 and a one year high of $28.82. The business’s fifty day moving average price is $24.98 and its 200-day moving average price is $24.17.

The RMR Group (NASDAQ:RMR) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $205.48 million for the quarter, compared to the consensus estimate of $227.68 million. The RMR Group had a net margin of 2.80% and a return on equity of 6.95%. During the same period in the previous year, the firm earned $0.48 EPS. As a group, equities analysts expect that The RMR Group Inc. will post 1.64 EPS for the current fiscal year.

The RMR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be given a $0.45 dividend. The ex-dividend date is Monday, October 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.11%. The RMR Group’s dividend payout ratio (DPR) is presently 66.91%.

About The RMR Group

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.