RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $77.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 23.89% from the stock’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. “
RMR has been the topic of a number of other reports. B. Riley set a $89.00 price objective on RMR Group and gave the company a “hold” rating in a research note on Monday, August 13th. BidaskClub raised RMR Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. TheStreet downgraded RMR Group from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. Finally, ValuEngine downgraded RMR Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.50.
Shares of RMR opened at $62.15 on Thursday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 27.78 and a beta of 0.61. RMR Group has a 12 month low of $52.81 and a 12 month high of $98.00.
RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Monday, December 3rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. The company had revenue of $65.07 million for the quarter, compared to the consensus estimate of $62.32 million. RMR Group had a return on equity of 8.70% and a net margin of 23.72%. Equities analysts anticipate that RMR Group will post 2.65 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in RMR. FMR LLC lifted its stake in shares of RMR Group by 39.0% in the 3rd quarter. FMR LLC now owns 421,124 shares of the financial services provider’s stock valued at $39,080,000 after purchasing an additional 118,096 shares during the period. Vanguard Group Inc. increased its position in RMR Group by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,014,631 shares of the financial services provider’s stock valued at $94,157,000 after buying an additional 104,256 shares in the last quarter. First Trust Advisors LP increased its position in RMR Group by 1,065.2% in the 2nd quarter. First Trust Advisors LP now owns 80,724 shares of the financial services provider’s stock valued at $6,333,000 after buying an additional 73,796 shares in the last quarter. Dimensional Fund Advisors LP increased its position in RMR Group by 24.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 336,877 shares of the financial services provider’s stock valued at $26,427,000 after buying an additional 65,397 shares in the last quarter. Finally, BlackRock Inc. increased its position in RMR Group by 11.3% in the 2nd quarter. BlackRock Inc. now owns 477,929 shares of the financial services provider’s stock valued at $37,494,000 after buying an additional 48,424 shares in the last quarter. 18.85% of the stock is currently owned by institutional investors.
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.
See Also: How to read a candlestick chart
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.