RMR Group (RMR) Raised to “Buy” at B. Riley

B. Riley upgraded shares of RMR Group (NASDAQ:RMR) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat Ratings reports. B. Riley currently has $82.00 price target on the financial services provider’s stock, down from their previous price target of $89.00. B. Riley also issued estimates for RMR Group’s Q1 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.46 EPS and FY2020 earnings at $2.62 EPS.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of RMR Group from a hold rating to a buy rating and set a $101.00 price target on the stock in a research note on Wednesday, September 19th. BidaskClub downgraded shares of RMR Group from a buy rating to a hold rating in a research note on Saturday, October 13th. Finally, ValuEngine downgraded shares of RMR Group from a buy rating to a hold rating in a research note on Tuesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $79.50.

NASDAQ:RMR opened at $64.73 on Tuesday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 27.78 and a beta of 0.61. RMR Group has a fifty-two week low of $52.81 and a fifty-two week high of $98.00.

RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Monday, December 3rd. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. The company had revenue of $65.07 million for the quarter, compared to the consensus estimate of $62.32 million. RMR Group had a net margin of 23.72% and a return on equity of 8.70%. As a group, equities analysts expect that RMR Group will post 2.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 29th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, October 26th. This is an increase from RMR Group’s previous quarterly dividend of $0.25. RMR Group’s dividend payout ratio (DPR) is currently 60.09%.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of RMR Group by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 38,610 shares of the financial services provider’s stock valued at $3,029,000 after acquiring an additional 2,259 shares during the period. Schroder Investment Management Group raised its stake in shares of RMR Group by 72.8% in the 2nd quarter. Schroder Investment Management Group now owns 12,002 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 5,058 shares during the period. Principal Financial Group Inc. purchased a new position in shares of RMR Group in the 1st quarter valued at $219,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of RMR Group by 11.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,276 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 720 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of RMR Group in the 2nd quarter valued at $1,623,000. 18.85% of the stock is currently owned by institutional investors and hedge funds.

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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