Zacks Investment Research upgraded shares of RMR Group (NASDAQ:RMR) from a hold rating to a strong-buy rating in a report released on Wednesday. They currently have $69.00 price objective 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. “
A number of other analysts have also commented on RMR. BidaskClub lowered shares of RMR Group from a buy rating to a hold rating in a research report on Wednesday, October 18th. B. Riley restated a neutral rating on shares of RMR Group in a report on Wednesday, November 1st. Oppenheimer restated a hold rating on shares of RMR Group in a report on Tuesday, December 12th. Finally, TheStreet upgraded shares of RMR Group from a c rating to a b- rating in a report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $62.25.
Shares of RMR Group (RMR) opened at $60.85 on Wednesday. The company has a market cap of $1,899.32, a price-to-earnings ratio of 31.91 and a beta of -0.51. RMR Group has a 1 year low of $42.35 and a 1 year high of $67.90.
RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.11. The business had revenue of $218.54 million for the quarter, compared to analyst estimates of $206.85 million. RMR Group had a net margin of 23.35% and a return on equity of 10.86%. equities analysts anticipate that RMR Group will post 2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. RMR Group’s payout ratio is 17.99%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its holdings in shares of RMR Group by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 27,854 shares of the financial services provider’s stock valued at $1,356,000 after purchasing an additional 152 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of RMR Group by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 6,194 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 506 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in shares of RMR Group by 1.5% in the third quarter. Mckinley Capital Management LLC Delaware now owns 69,006 shares of the financial services provider’s stock valued at $3,543,000 after purchasing an additional 1,052 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of RMR Group by 3.3% in the fourth quarter. Alliancebernstein L.P. now owns 40,702 shares of the financial services provider’s stock valued at $2,414,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Dupont Capital Management Corp increased its holdings in shares of RMR Group by 24.3% in the fourth quarter. Dupont Capital Management Corp now owns 7,090 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 34.71% of the company’s stock.
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RMR Group Company Profile
The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.
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