The RMR Group (NASDAQ:RMR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of The RMR Group (NASDAQ:RMR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The firm currently has $37.00 target price on the financial services provider’s stock.

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. “

Several other brokerages also recently weighed in on RMR. Morgan Stanley raised their price target on The RMR Group from $41.00 to $43.00 and gave the stock an equal weight rating in a report on Tuesday, August 31st. BTIG Research boosted their price objective on The RMR Group from $44.00 to $47.00 and gave the company a buy rating in a research report on Tuesday, August 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $43.00.

NASDAQ RMR opened at $33.62 on Wednesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 19.89 and a beta of 1.72. The stock has a 50 day moving average price of $38.28 and a 200-day moving average price of $39.23. The RMR Group has a one year low of $25.10 and a one year high of $47.12.

The RMR Group (NASDAQ:RMR) last released its earnings results on Thursday, August 5th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The RMR Group had a return on equity of 4.97% and a net margin of 4.83%. The business had revenue of $145.24 million during the quarter, compared to the consensus estimate of $142.37 million. On average, equities analysts expect that The RMR Group will post 1.76 EPS for the current fiscal year.

The firm also recently disclosed a None dividend, which was paid on Thursday, September 16th. Stockholders of record on Monday, September 6th were issued a $7.00 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This is an increase from The RMR Group’s previous None dividend of $0.30. The RMR Group’s dividend payout ratio is presently 85.88%.

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its position in The RMR Group by 20.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,882 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 492 shares during the period. Advisor Group Holdings Inc. grew its position in shares of The RMR Group by 219.6% in the second quarter. Advisor Group Holdings Inc. now owns 4,772 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 3,279 shares during the period. Metropolitan Life Insurance Co NY grew its position in shares of The RMR Group by 102,600.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 5,135 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 5,130 shares during the period. Envestnet Asset Management Inc. acquired a new position in The RMR Group in the first quarter valued at $200,000. Finally, WINTON GROUP Ltd acquired a new position in The RMR Group in the second quarter valued at $203,000. Hedge funds and other institutional investors own 38.33% of the company’s stock.

About The RMR Group

The RMR Group, Inc is a holding company, which engages in the provision of management services to the managed equity real estate investment trusts and the managed operators. It operates through the RMR LLC and All Other Operations segments. The RMR LLC segment invests in real estate and manages real estate related businesses.

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