BlackRock Fund Advisors recently announced the acquisition of new stake in The RMR Group Inc. (NASDAQ:RMR). The institutional investor has increased its shareholding in the Real Estate company by 1.30% to 1.1 million shares with purchase of 14137.0 shares. This fresh investment now brings its stake to 7.04% valued currently at $31.02 million. In addition, Federated MDTA LLC raised its holdings by 23407.0 to 0.52 million shares. And TCW Asset Management Co. LLC has lifted its position by 2.97% or 11600.0 shares – to 0.4 million shares.
With over 0.11 million The RMR Group Inc. (RMR) shares trading Tuesday and a closing price of $29.46 on the day, the dollar volume was approximately $3.26 million. The shares have shown a positive half year performance of 7.48% and its price on 01/24/23 gained nearly 0.51%. Currently, there are 16.36M common shares owned by the public and among those 15.23M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for RMR have a consensus price objective of $35.50. The analysts have set the share’s price value over the next 12 months at a high of $42.00 and a low of $29.00. The average price target is 12.5% above its recent price level and a downside to the estimated low will see the stock lose -1.59% over that period. But an upside of 29.86% will see the stock hit the forecast high price target while median target price for the stock is $35.50.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 45,000 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 7,147 shares.
The top 3 mutual fund holders in The RMR Group Inc. are Vanguard Real Estate Index Fund, American Beacon Small Cap Value F, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 0.69 million shares of the company’s stock, all valued at over $19.51 million. The company sold 10307.0 shares recently to bring their total holdings to about 4.42% of the shares outstanding. Vanguard Total Stock Market Index bought 726.0 shares to bring its total holdings to over 0.44 million shares at a value of $12.53 million. Vanguard Total Stock Market Index now owns shares totaling to 2.84% of the shares outstanding.
Shares of The RMR Group Inc. (NASDAQ: RMR) opened at $29.45, up $0.14 from a prior closing price of $29.31. However, the script later moved the day high at 29.60, up 0.51%. The company’s stock has a 5-day price change of -1.24% and 15.80% over the past three months. RMR shares are trading 4.28% year to date (YTD), with the 12-month market performance down to -8.25% lower. It has a 12-month low price of $23.00 and touched a high of $32.27 over the same period. RMR has an average intraday trading volume of 90.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.06%, 3.44%, and 5.98% respectively.
Institutional ownership of The RMR Group Inc. (NASDAQ: RMR) shares accounts for 84.30% of the company’s 16.36M shares outstanding. Mutual fund holders own 42.74%, while other institutional holders and individual stakeholders account for 70.70% and 37.57% respectively.
It has a market capitalization of $942.72M and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 14.44, while the earnings-per-share (ttm) stands at $2.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.72% over the week and 2.08% over the month.
Analysts forecast that The RMR Group Inc. (RMR) will achieve an EPS of $0.56 for the current quarter, $0.58 for the next quarter and $2.2 for 2023. The lowest estimate earnings-per-share for the quarter is $0.52 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -4.90%, and 5.42% over the next financial year. EPS should grow at an annualized rate of -1.00% over the next five years, compared to -4.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate The RMR Group Inc. (RMR) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Citigroup coverage for the The RMR Group Inc. (RMR) stock in a research note released on October 22, 2021 offered a Neutral rating with a price target of $38. BTIG Research was of a view on December 28, 2020 that the stock is Buy, while Citigroup gave the stock Neutral rating on July 14, 2020, issuing a price target of $28. Citigroup on their part issued Sell rating on June 08, 2020.