Zacks Investment Research Lowers RMR Group (RMR) to Hold

RMR Group (NASDAQ:RMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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 equities research analysts also recently issued reports on RMR. ValuEngine downgraded shares of RMR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Oppenheimer reaffirmed a “hold” rating on shares of RMR Group in a research report on Friday, April 12th. TheStreet raised shares of RMR Group from a “c+” rating to a “b” rating in a research report on Friday, January 25th. BidaskClub raised shares of RMR Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, B. Riley set a $89.00 target price on shares of RMR Group and gave the company a “buy” rating in a research report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. RMR Group has an average rating of “Hold” and an average target price of $80.50.

Shares of RMR stock opened at $59.41 on Wednesday. RMR Group has a 12-month low of $51.80 and a 12-month high of $98.00. The firm has a market cap of $1.90 billion, a PE ratio of 25.50 and a beta of 1.26.

RMR Group (NASDAQ:RMR) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.22. RMR Group had a net margin of 16.52% and a return on equity of 17.44%. The company had revenue of $280.31 million during the quarter, compared to the consensus estimate of $181.62 million. On average, research analysts expect that RMR Group will post 5 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its position in shares of RMR Group by 5.1% in the 4th quarter. Legal & General Group Plc now owns 3,483 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 168 shares during the period. Victory Capital Management Inc. lifted its stake in shares of RMR Group by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,498 shares of the financial services provider’s stock worth $292,000 after buying an additional 215 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of RMR Group by 1.5% during the 3rd quarter. Martingale Asset Management L P now owns 34,184 shares of the financial services provider’s stock worth $3,173,000 after buying an additional 499 shares during the last quarter. Convergence Investment Partners LLC lifted its stake in shares of RMR Group by 9.4% during the 4th quarter. Convergence Investment Partners LLC now owns 6,217 shares of the financial services provider’s stock worth $330,000 after buying an additional 533 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of RMR Group by 0.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 62,438 shares of the financial services provider’s stock worth $3,317,000 after buying an additional 541 shares during the last quarter. 18.82% of the stock is owned by institutional investors.

RMR Group Company Profile

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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