RMR Group (NASDAQ:RMR) shares hit a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $79.50 and last traded at $78.72, with a volume of 22258 shares. The stock had previously closed at $77.85.
Several brokerages recently issued reports on RMR. Zacks Investment Research upgraded shares of RMR Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Saturday, January 27th. BidaskClub lowered shares of RMR Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Finally, B. Riley set a $61.00 target price on shares of RMR Group and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $66.25.
The stock has a market capitalization of $2,486.73, a price-to-earnings ratio of 41.78 and a beta of -0.20.
RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $218.54 million during the quarter, compared to analyst estimates of $206.85 million. sell-side analysts anticipate that RMR Group will post 2.51 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in RMR. SG Americas Securities LLC purchased a new position in shares of RMR Group in the fourth quarter worth $131,000. MetLife Investment Advisors LLC purchased a new position in shares of RMR Group in the fourth quarter worth $206,000. UBS Asset Management Americas Inc. purchased a new position in shares of RMR Group in the fourth quarter worth $209,000. Two Sigma Investments LP purchased a new position in shares of RMR Group in the fourth quarter worth $249,000. Finally, Schroder Investment Management Group lifted its holdings in shares of RMR Group by 51.2% in the fourth quarter. Schroder Investment Management Group now owns 5,865 shares of the financial services provider’s stock worth $348,000 after buying an additional 1,985 shares in the last quarter. 18.06% of the stock is currently owned by hedge funds and other institutional investors.
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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 four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2017, the company had approximately 1,400 properties under management, which are primarily owned by its Managed Equity REITs.
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