Zacks Investment Research Downgrades The RMR Group (NASDAQ:RMR) to Hold

The RMR Group (NASDAQ:RMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 equities analysts have also commented on the company. Morgan Stanley increased their price target on The RMR Group from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 31st. BTIG Research increased their price target on The RMR Group from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, August 31st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, The RMR Group has an average rating of “Buy” and a consensus price target of $43.00.

Shares of RMR opened at $33.62 on Thursday. The business has a 50-day simple moving average of $38.28 and a two-hundred day simple moving average of $39.23. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 19.89 and a beta of 1.72. The RMR Group has a 52 week low of $25.10 and a 52 week high of $47.12.

The RMR Group (NASDAQ:RMR) last released its earnings results on Thursday, August 5th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The RMR Group had a return on equity of 4.97% and a net margin of 4.83%. The firm had revenue of $145.24 million during the quarter, compared to analysts’ expectations of $142.37 million. Equities research analysts forecast that The RMR Group will post 1.76 EPS for the current year.

Several institutional investors have recently bought and sold shares of RMR. BNP Paribas Arbitrage SA increased its holdings in shares of The RMR Group by 20.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,882 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 492 shares during the period. Advisor Group Holdings Inc. boosted its stake in shares of The RMR Group by 219.6% in the second quarter. Advisor Group Holdings Inc. now owns 4,772 shares of the financial services provider’s stock worth $185,000 after buying an additional 3,279 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of The RMR Group by 102,600.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 5,135 shares of the financial services provider’s stock worth $198,000 after buying an additional 5,130 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of The RMR Group in the first quarter worth about $200,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of The RMR Group in the second quarter worth about $203,000. 38.33% of the stock is owned by hedge funds and other institutional investors.

About The RMR Group

The RMR Group, Inc is a holding company, which engages in the provision of management services to the managed equity real estate investment trusts and the managed operators. It operates through the RMR LLC and All Other Operations segments. The RMR LLC segment invests in real estate and manages real estate related businesses.

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