Bank of America assumed coverage on shares of RMR Group (NASDAQ:RMR) in a research note published on Monday morning, BenzingaRatingsTable reports. The brokerage issued an underperform rating on the financial services provider’s stock.
A number of other analysts also recently commented on RMR. CIBC raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research note on Monday, July 1st. S&P Equity Research raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research note on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded RMR Group from a buy rating to a hold rating in a research note on Friday, August 9th. BidaskClub raised RMR Group from a strong sell rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Oppenheimer raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research note on Monday, July 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $55.50.
RMR opened at $45.45 on Monday. RMR Group has a one year low of $41.69 and a one year high of $95.12. The stock’s fifty day moving average is $46.29 and its 200-day moving average is $52.91. The company has a market capitalization of $1.42 billion, a PE ratio of 19.51 and a beta of 1.22.
RMR Group (NASDAQ:RMR) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). RMR Group had a return on equity of 15.50% and a net margin of 12.02%. The firm had revenue of $143.72 million during the quarter, compared to the consensus estimate of $133.10 million. Research analysts expect that RMR Group will post 4.81 earnings per share for the current fiscal year.
In related news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of RMR Group stock in a transaction on Monday, July 1st. The stock was sold at an average price of $40.00, for a total value of $105,496,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 55.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of RMR Group by 93.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,039,460 shares of the financial services provider’s stock worth $95,814,000 after acquiring an additional 982,739 shares during the last quarter. Engine Capital Management LP purchased a new position in shares of RMR Group during the second quarter valued at $34,295,000. Zimmer Partners LP purchased a new position in shares of RMR Group during the second quarter valued at $29,363,000. BlackRock Inc. grew its holdings in shares of RMR Group by 4.8% during the second quarter. BlackRock Inc. now owns 500,139 shares of the financial services provider’s stock valued at $23,497,000 after buying an additional 22,940 shares in the last quarter. Finally, Indaba Capital Management L.P. purchased a new position in shares of RMR Group during the second quarter valued at $23,490,000. Institutional investors and hedge funds own 47.20% of the company’s stock.
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 five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.
Featured Story: Why do commodities matter?
Receive News & Ratings for RMR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RMR Group and related companies with MarketBeat.com's FREE daily email newsletter.