Zacks Investment Research lowered shares of RMR Group (NASDAQ:RMR) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning.

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. “

Several other research analysts have also recently weighed in on the company. BidaskClub cut RMR Group from a buy rating to a hold rating in a report on Saturday. B. Riley set a $89.00 target price on RMR Group and gave the stock a hold rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $95.00.

Shares of RMR Group stock opened at $80.08 on Tuesday. The company has a market cap of $2.89 billion, a PE ratio of 21.13 and a beta of -0.09. RMR Group has a 1-year low of $51.10 and a 1-year high of $98.00.

RMR Group (NASDAQ:RMR) last issued its earnings results on Wednesday, August 8th. The financial services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $62.08 million for the quarter, compared to analysts’ expectations of $59.03 million. RMR Group had a return on equity of 9.97% and a net margin of 23.43%. Research analysts predict that RMR Group will post 2.24 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cim LLC acquired a new position in RMR Group in the second quarter valued at approximately $214,000. Principal Financial Group Inc. acquired a new position in RMR Group in the first quarter valued at approximately $219,000. Eqis Capital Management Inc. acquired a new position in RMR Group in the second quarter valued at approximately $225,000. Hartford Investment Management Co. acquired a new position in RMR Group in the second quarter valued at approximately $232,000. Finally, Barclays PLC lifted its holdings in RMR Group by 94.0% in the first quarter. Barclays PLC now owns 3,358 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 1,627 shares during the last quarter. Hedge funds and other institutional investors own 18.40% 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 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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