RMR Group (NASDAQ:RMR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of RMR Group (NASDAQ:RMR) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. The firm currently has $55.00 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. “

A number of other research analysts have also recently commented on the company. S&P Equity Research raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price target on the stock in a research report on Monday, July 1st. They noted that the move was a valuation call. Oppenheimer raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price target on the stock in a research report on Monday, July 1st. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. B. Riley set a $13.00 price target on Audioeye and gave the company a buy rating in a research report on Monday, May 13th. Finally, CIBC raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price target on the stock in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $59.40.

Shares of NASDAQ:RMR opened at $48.88 on Tuesday. The company has a market cap of $1.53 billion, a P/E ratio of 20.98 and a beta of 1.19. The company has a fifty day simple moving average of $48.81. RMR Group has a 1 year low of $41.69 and a 1 year high of $98.00.

RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Friday, May 10th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $130.10 million during the quarter, compared to the consensus estimate of $141.12 million. RMR Group had a net margin of 14.31% and a return on equity of 16.42%. On average, sell-side analysts predict that RMR Group will post 4.82 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 29th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.86%. RMR Group’s dividend payout ratio is presently 60.09%.

In related news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $40.00, for a total transaction of $105,496,320.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 55.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in RMR Group by 5.1% during the 4th quarter. Legal & General Group Plc now owns 3,483 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 168 shares in the last quarter. Bank of Montreal Can lifted its holdings in RMR Group by 104.3% during the 1st quarter. Bank of Montreal Can now owns 672 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in RMR Group by 4.6% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,481 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 500 shares in the last quarter. Alps Advisors Inc. lifted its holdings in RMR Group by 3.9% during the 1st quarter. Alps Advisors Inc. now owns 15,312 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 574 shares in the last quarter. Finally, Globeflex Capital L P lifted its holdings in RMR Group by 4.2% during the 1st quarter. Globeflex Capital L P now owns 18,699 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 754 shares in the last quarter. 17.90% of the stock is currently owned by institutional investors and hedge funds.

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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