RMR Group (RMR) Cut to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of RMR Group (NASDAQ:RMR) from a buy rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “The RMR Group Inc. primarily provides management services to publicly owned real estate investment trusts and real estate operating companies. The RMR Group Inc. is headquartered in Newton, MA. “

A number of other equities analysts also recently issued reports on RMR. ValuEngine downgraded RMR Group from a buy rating to a hold rating in a research note on Tuesday, November 20th. BidaskClub downgraded RMR Group from a hold rating to a sell rating in a research report on Tuesday, November 20th. B. Riley upgraded RMR Group from a neutral rating to a buy rating and lowered their target price for the company from $89.00 to $82.00 in a research report on Tuesday, December 4th. Finally, TheStreet downgraded RMR Group from a b- rating to a c+ rating in a research report on Friday, November 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $80.50.

RMR stock opened at $61.85 on Wednesday. The firm has a market capitalization of $1.93 billion, a PE ratio of 12.49 and a beta of 1.31. RMR Group has a 1 year low of $51.80 and a 1 year high of $98.00.

RMR Group (NASDAQ:RMR) last released its quarterly earnings results on Thursday, February 7th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.22. The firm had revenue of $280.31 million for the quarter, compared to the consensus estimate of $181.62 million. RMR Group had a return on equity of 17.44% and a net margin of 16.52%. As a group, research analysts predict that RMR Group will post 5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its position in RMR Group by 11.5% during the third quarter. Vanguard Group Inc now owns 1,014,631 shares of the financial services provider’s stock valued at $94,157,000 after purchasing an additional 104,256 shares in the last quarter. Vanguard Group Inc. lifted its position in RMR Group by 11.5% during the third quarter. Vanguard Group Inc. now owns 1,014,631 shares of the financial services provider’s stock valued at $94,157,000 after purchasing an additional 104,256 shares in the last quarter. BlackRock Inc. lifted its position in RMR Group by 1.0% during the fourth quarter. BlackRock Inc. now owns 487,772 shares of the financial services provider’s stock valued at $25,891,000 after purchasing an additional 4,719 shares in the last quarter. FMR LLC lifted its position in RMR Group by 9.7% during the fourth quarter. FMR LLC now owns 461,945 shares of the financial services provider’s stock valued at $24,520,000 after purchasing an additional 40,821 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in RMR Group by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 373,780 shares of the financial services provider’s stock valued at $19,841,000 after purchasing an additional 5,667 shares in the last quarter. Institutional investors own 18.47% of the company’s stock.

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 five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.

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