RMR Group Inc (RMR) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of RMR Group Inc (NYSE:RMR) from a buy rating to a hold rating in a report released on Wednesday morning.
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. “
RMR has been the topic of several other research reports. Canaccord Genuity set a $72.00 price target on shares of RMR Group and gave the company a buy rating in a research report on Wednesday, August 9th. BidaskClub cut shares of RMR Group from a buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, FBR & Co reissued a neutral rating and set a $51.00 target price (up previously from $50.00) on shares of RMR Group in a research report on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RMR Group has an average rating of Hold and an average price target of $60.00.
RMR Group (RMR) traded down $0.05 during mid-day trading on Wednesday, hitting $54.20. 25,828 shares of the stock were exchanged, compared to its average volume of 29,081. RMR Group has a one year low of $33.90 and a one year high of $55.10.
RMR Group (NYSE:RMR) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.02). RMR Group had a net margin of 31.72% and a return on equity of 18.72%. The business had revenue of $55.50 million during the quarter, compared to the consensus estimate of $54.65 million.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%.
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in RMR Group by 49.6% in the 1st quarter. Bank of New York Mellon Corp now owns 39,444 shares of the financial services provider’s stock valued at $1,951,000 after buying an additional 13,074 shares in the last quarter. American International Group Inc. grew its stake in RMR Group by 7.1% in the 1st quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock valued at $211,000 after buying an additional 281 shares in the last quarter. Alliancebernstein L.P. grew its stake in RMR Group by 469.8% in the 1st quarter. Alliancebernstein L.P. now owns 39,260 shares of the financial services provider’s stock valued at $1,943,000 after buying an additional 32,370 shares in the last quarter. Teachers Advisors LLC grew its stake in RMR Group by 17.7% in the 1st quarter. Teachers Advisors LLC now owns 37,887 shares of the financial services provider’s stock valued at $1,875,000 after buying an additional 5,689 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in RMR Group by 47.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 93,858 shares of the financial services provider’s stock valued at $4,646,000 after buying an additional 30,388 shares in the last quarter.
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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