The RMR Group (NASDAQ:RMR) Lowered to “Hold” at Zacks Investment Research
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 have also recently weighed in on RMR. BTIG Research began coverage on The RMR Group in a report on Monday, December 28th. They set a buy rating and a $45.00 price objective for the company. TheStreet raised shares of The RMR Group from a c rating to a b- rating in a research note on Tuesday, February 16th. Citigroup boosted their price target on shares of The RMR Group from $37.75 to $42.00 in a research note on Monday, February 8th. B. Riley boosted their price target on shares of The RMR Group from $41.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday, February 3rd. Finally, Morgan Stanley dropped their price target on shares of The RMR Group from $46.00 to $40.00 and set an equal weight rating for the company in a research note on Tuesday, January 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $40.00.
The RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Sunday, January 31st. The financial services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. The firm had revenue of $156.95 million for the quarter, compared to analyst estimates of $148.20 million. The RMR Group had a return on equity of 5.47% and a net margin of 4.88%. As a group, sell-side analysts anticipate that The RMR Group will post 1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 18th. Shareholders of record on Monday, January 25th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, January 22nd. The RMR Group’s payout ratio is presently 85.88%.
A number of large investors have recently modified their holdings of RMR. Royal London Asset Management Ltd. bought a new stake in The RMR Group in the fourth quarter valued at approximately $33,000. Strs Ohio bought a new stake in The RMR Group in the fourth quarter valued at approximately $142,000. Squarepoint Ops LLC bought a new stake in The RMR Group in the third quarter valued at approximately $210,000. PhiloSmith Capital Corp increased its stake in The RMR Group by 92,400.0% in the first quarter. PhiloSmith Capital Corp now owns 3,700 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 3,696 shares in the last quarter. Finally, Globeflex Capital L P increased its stake in The RMR Group by 9.8% in the fourth quarter. Globeflex Capital L P now owns 9,096 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 813 shares in the last quarter. 38.08% of the stock is owned by hedge funds and other institutional investors.
About The 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, 2020, it had approximately 2,100 properties in 47 states under management, which are primarily owned by the Managed Equity REITs.
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