RMR Group (NASDAQ:RMR) Rating Increased to Buy at Zacks Investment Research

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RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, September 19th. The firm currently has a $101.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 34.51% 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. “

Several other analysts have also recently issued reports on RMR. BidaskClub cut RMR Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 23rd. B. Riley raised their target price on RMR Group from $88.00 to $89.00 and gave the stock a “$85.80” rating in a research note on Thursday, July 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $95.00.

Shares of NASDAQ RMR traded down $0.08 during trading hours on Wednesday, hitting $75.09. The company’s stock had a trading volume of 55,461 shares, compared to its average volume of 48,203. The stock has a market capitalization of $2.89 billion, a PE ratio of 19.81 and a beta of -0.09. RMR Group has a 12 month low of $51.10 and a 12 month high of $98.00.

RMR Group (NASDAQ:RMR) last posted its earnings results on Wednesday, August 8th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company 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%. As a group, equities analysts anticipate that RMR Group will post 2.24 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in RMR Group by 15.9% in the second quarter. Victory Capital Management Inc. now owns 4,976 shares of the financial services provider’s stock worth $390,000 after buying an additional 681 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in RMR Group by 11.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,276 shares of the financial services provider’s stock worth $571,000 after buying an additional 720 shares during the period. Bowling Portfolio Management LLC lifted its holdings in RMR Group by 4.1% in the second quarter. Bowling Portfolio Management LLC now owns 23,282 shares of the financial services provider’s stock worth $1,826,000 after buying an additional 918 shares during the period. JPMorgan Chase & Co. lifted its holdings in RMR Group by 19.6% in the first quarter. JPMorgan Chase & Co. now owns 5,811 shares of the financial services provider’s stock worth $406,000 after buying an additional 954 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in RMR Group by 18.4% in the first quarter. Schroder Investment Management Group now owns 6,944 shares of the financial services provider’s stock worth $486,000 after buying an additional 1,079 shares during the period. Institutional investors and hedge funds 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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