RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, January 27th. The firm currently has a $74.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 23.64% 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. “
Other analysts have also issued reports about the stock. TheStreet raised shares of RMR Group from a “c” rating to a “b-” rating in a research report on Tuesday, December 12th. BidaskClub raised shares of RMR Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 12th. B. Riley set a $61.00 price objective on shares of RMR Group and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Oppenheimer reaffirmed a “hold” rating on shares of RMR Group in a research report on Tuesday, December 12th. Finally, FBR & Co reaffirmed a “neutral” rating and set a $51.00 price objective (up previously from $50.00) on shares of RMR Group in a research report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.50.
RMR Group (RMR) opened at $59.85 on Friday. RMR Group has a 12-month low of $42.35 and a 12-month high of $67.90. The firm has a market cap of $1,870.00 and a PE ratio of 10.78.
RMR Group (NASDAQ:RMR) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.49 by $0.11. RMR Group had a net margin of 23.35% and a return on equity of 10.86%. The company had revenue of $218.54 million during the quarter, compared to analysts’ expectations of $206.85 million. sell-side analysts forecast that RMR Group will post 1.97 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in shares of RMR Group by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 27,854 shares of the financial services provider’s stock worth $1,356,000 after acquiring an additional 152 shares during the last quarter. Rhumbline Advisers grew its stake in shares of RMR Group by 6.1% in the second quarter. Rhumbline Advisers now owns 8,081 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 466 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of RMR Group by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 41,804 shares of the financial services provider’s stock worth $2,033,000 after acquiring an additional 2,360 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of RMR Group in the second quarter worth $211,000. Finally, Wells Fargo & Company MN grew its stake in shares of RMR Group by 26.1% in the second quarter. Wells Fargo & Company MN now owns 33,816 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 7,007 shares during the last quarter. Institutional investors own 34.71% of the company’s stock.
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About RMR Group
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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