RMR Group (RMR) Receives $62.25 Average Target Price from Brokerages

Shares of RMR Group (NASDAQ:RMR) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $62.25.

Several research analysts have recently commented on the company. Zacks Investment Research lowered RMR Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. BidaskClub raised RMR Group from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Oppenheimer reissued a “hold” rating on shares of RMR Group in a report on Tuesday, December 12th. TheStreet raised RMR Group from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. Finally, B. Riley assumed coverage on RMR Group in a report on Friday, February 9th. They set a “hold” rating and a $61.00 price objective for the company.

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Shares of RMR traded up $0.25 during midday trading on Friday, hitting $73.90. 107,354 shares of the company traded hands, compared to its average volume of 51,660. RMR Group has a one year low of $42.35 and a one year high of $74.40. The stock has a market cap of $2,295.08, a PE ratio of 19.50 and a beta of -0.20.

RMR Group (NASDAQ:RMR) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.11. RMR Group had a return on equity of 10.86% and a net margin of 23.35%. The company had revenue of $218.54 million during the quarter, compared to analyst estimates of $206.85 million. equities analysts expect that RMR Group will post 2.51 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in RMR Group by 0.6% in the fourth quarter. BlackRock Inc. now owns 432,190 shares of the financial services provider’s stock worth $25,629,000 after buying an additional 2,760 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in RMR Group by 17.4% in the third quarter. Dimensional Fund Advisors LP now owns 200,400 shares of the financial services provider’s stock worth $10,291,000 after buying an additional 29,686 shares in the last quarter. Renaissance Technologies LLC boosted its stake in RMR Group by 31.1% in the fourth quarter. Renaissance Technologies LLC now owns 190,900 shares of the financial services provider’s stock worth $11,320,000 after buying an additional 45,300 shares in the last quarter. Geode Capital Management LLC boosted its stake in RMR Group by 11.5% in the fourth quarter. Geode Capital Management LLC now owns 127,954 shares of the financial services provider’s stock worth $7,587,000 after buying an additional 13,225 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in RMR Group by 22.2% in the fourth quarter. Mackenzie Financial Corp now owns 119,213 shares of the financial services provider’s stock worth $7,069,000 after buying an additional 21,636 shares in the last quarter. 17.89% of the stock is owned by institutional investors and hedge funds.

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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 four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2017, the company had approximately 1,400 properties under management, which are primarily owned by its Managed Equity REITs.

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