RMR Group (RMR) Upgraded to “Buy” at Zacks Investment Research
RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $85.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.18% from the company’s current price.
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 equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of RMR Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. B. Riley set a $61.00 price target on shares of RMR Group and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Three equities research 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 stock. The company currently has an average rating of “Buy” and an average target price of $66.25.
RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.11. The firm had revenue of $218.54 million for the quarter, compared to the consensus estimate of $206.85 million. RMR Group had a net margin of 23.35% and a return on equity of 10.86%. equities analysts predict that RMR Group will post 2.51 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of RMR Group by 15.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,516 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 1,008 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of RMR Group in the 4th quarter valued at approximately $206,000. Engine Capital Management LLC boosted its stake in shares of RMR Group by 718.5% in the 4th quarter. Engine Capital Management LLC now owns 89,541 shares of the financial services provider’s stock valued at $5,310,000 after purchasing an additional 78,601 shares in the last quarter. Paloma Partners Management Co bought a new position in RMR Group in the 4th quarter valued at approximately $1,105,000. Finally, Two Sigma Investments LP bought a new position in RMR Group in the 4th quarter valued at approximately $249,000. Institutional investors own 18.06% of the company’s stock.
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About RMR Group
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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