RMR Group Inc (RMR) Upgraded at Zacks Investment Research
RMR Group Inc (NYSE:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage presently has a $61.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.76% from the company’s previous close.
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 stock. BidaskClub cut shares of RMR Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. FBR & Co restated a “neutral” rating and issued a $51.00 price objective (up from $50.00) on shares of RMR Group in a report on Monday. Finally, Canaccord Genuity set a $72.00 price objective on shares of RMR Group and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.00.
Shares of RMR Group (NYSE RMR) traded down 0.58% during midday trading on Wednesday, hitting $51.50. The stock had a trading volume of 2,175 shares. The firm has a market cap of $828.84 million and a price-to-earnings ratio of 18.61. The firm’s 50 day moving average price is $49.79 and its 200 day moving average price is $49.93. RMR Group has a 52-week low of $33.90 and a 52-week high of $55.10.
RMR Group (NYSE:RMR) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.44 EPS for the quarter, missing the Zacks’ 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 analysts’ expectations of $54.65 million. On average, equities research analysts expect that RMR Group will post $2.74 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System purchased a new position in shares of RMR Group in the first quarter valued at approximately $208,000. American International Group Inc. increased its stake in RMR Group by 7.1% during the 1st quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock worth $211,000 after buying an additional 281 shares during the period. Principal Financial Group Inc. purchased a new stake in RMR Group during the 2nd quarter worth approximately $211,000. Voya Investment Management LLC purchased a new stake in RMR Group during the 2nd quarter worth approximately $218,000. Finally, Trexquant Investment LP purchased a new stake in RMR Group during the 2nd quarter worth approximately $219,000.
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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