RMR Group (NASDAQ:RMR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of RMR Group (NASDAQ:RMR) from a buy rating to a hold rating in a research note published on Friday morning, 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. “

A number of other analysts have also recently commented on the company. Oppenheimer upgraded RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective for the company in a research report on Monday, July 1st. ValuEngine cut RMR Group from a hold rating to a sell rating in a research report on Friday, July 26th. BidaskClub raised RMR Group from a strong sell rating to a sell rating in a research note on Tuesday, July 2nd. 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 note on Monday, July 1st. They noted that the move was a valuation call. Finally, B. Riley started coverage on RMR Group in a research note on Monday, May 13th. They issued a buy rating and a $80.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. RMR Group has a consensus rating of Hold and a consensus target price of $57.40.

RMR Group stock opened at $44.41 on Friday. The stock has a market capitalization of $1.44 billion, a PE ratio of 19.06 and a beta of 1.19. RMR Group has a 12 month low of $41.69 and a 12 month high of $98.00. The firm has a 50 day simple moving average of $48.04.

RMR Group (NASDAQ:RMR) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $143.72 million during the quarter, compared to analysts’ expectations of $133.10 million. RMR Group had a net margin of 14.31% and a return on equity of 16.42%. As a group, equities 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, July 26th. RMR Group’s dividend payout ratio is presently 60.09%.

In other news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of RMR Group stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $40.00, for a total value of $105,496,320.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 55.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMR. Monashee Investment Management LLC acquired a new position in RMR Group during the second quarter worth $7,987,000. Renaissance Technologies LLC boosted its stake in RMR Group by 50.5% during the second quarter. Renaissance Technologies LLC now owns 467,116 shares of the financial services provider’s stock worth $21,945,000 after buying an additional 156,716 shares during the last quarter. Norges Bank acquired a new position in RMR Group during the fourth quarter worth $6,024,000. Assenagon Asset Management S.A. acquired a new position in RMR Group during the first quarter worth $3,866,000. Finally, Quinn Opportunity Partners LLC boosted its stake in RMR Group by 604.1% during the second quarter. Quinn Opportunity Partners LLC now owns 64,204 shares of the financial services provider’s stock worth $3,016,000 after buying an additional 55,085 shares during the last quarter. 17.98% of the stock is currently 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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