Zacks Investment Research Upgrades RMR Group Inc (RMR) to Buy

Zacks Investment Research upgraded shares of RMR Group Inc (NYSE:RMR) from a hold rating to a buy rating in a research report report published on Tuesday, May 16th. The brokerage currently has $58.00 price target on the financial services provider’s stock.

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 research reports. FBR & Co reaffirmed a mkt perform rating and issued a $48.00 target price (up previously from $44.00) on shares of RMR Group in a research report on Friday, May 12th. Oppenheimer Holdings, Inc. initiated coverage on RMR Group in a research report on Tuesday, April 18th. They issued a market perform rating on the stock. Finally, William Blair initiated coverage on RMR Group in a research report on Tuesday, January 17th. They issued an outperform rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $59.33.

RMR Group (RMR) opened at 50.15 on Tuesday. RMR Group has a 12 month low of $29.16 and a 12 month high of $55.10. The firm has a market capitalization of $807.11 million and a price-to-earnings ratio of 18.12. The firm has a 50-day moving average price of $50.71 and a 200 day moving average price of $47.74.

RMR Group (NYSE:RMR) last released its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $54.30 million during the quarter, compared to analysts’ expectations of $52.79 million. On average, equities analysts forecast that RMR Group will post $2.83 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Friday, April 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Wednesday, April 19th.

A number of institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of RMR Group by 40.7% in the fourth quarter. Royce & Associates LP now owns 74,300 shares of the financial services provider’s stock worth $2,935,000 after buying an additional 21,500 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of RMR Group during the third quarter worth about $509,000. Dimensional Fund Advisors LP boosted its stake in shares of RMR Group by 81.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 112,471 shares of the financial services provider’s stock worth $4,443,000 after buying an additional 50,624 shares in the last quarter. Rational Advisors LLC purchased a new stake in shares of RMR Group during the first quarter worth about $297,000. Finally, Martingale Asset Management L P boosted its stake in shares of RMR Group by 12.5% in the fourth quarter. Martingale Asset Management L P now owns 35,786 shares of the financial services provider’s stock worth $1,414,000 after buying an additional 3,977 shares in the last quarter.

RMR Group Company Profile

The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.

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