RMR Group (RMR) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of RMR Group (NASDAQ:RMR) from a hold rating to a strong sell rating in a research report released 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. “

Other equities analysts have also issued research reports about the company. B. Riley lifted their price target on RMR Group from $88.00 to $89.00 and gave the company a $85.80 rating in a research note on Thursday, July 19th. BidaskClub lowered RMR Group from a strong-buy rating to a buy rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $95.00.

NASDAQ RMR opened at $80.08 on Tuesday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 21.13 and a beta of -0.09. RMR Group has a fifty-two week low of $51.10 and a fifty-two week high of $98.00.

RMR Group (NASDAQ:RMR) last announced its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. RMR Group had a return on equity of 9.97% and a net margin of 23.43%. The firm had revenue of $62.08 million during the quarter, compared to analyst estimates of $59.03 million. As a group, equities research analysts expect that RMR Group will post 2.24 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new position in shares of RMR Group in the 1st quarter valued at about $219,000. Cambridge Investment Research Advisors Inc. increased its stake in RMR Group by 11.0% during the 2nd 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 in the last quarter. Zacks Investment Management purchased a new stake in RMR Group during the 2nd quarter worth approximately $1,623,000. Schwab Charles Investment Management Inc. increased its stake in RMR Group by 6.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 38,610 shares of the financial services provider’s stock worth $3,029,000 after buying an additional 2,259 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in RMR Group by 2.8% during the 2nd quarter. Acadian Asset Management LLC now owns 535,106 shares of the financial services provider’s stock worth $41,981,000 after buying an additional 14,432 shares in the last quarter. Hedge funds and other institutional investors own 18.40% of the company’s stock.

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: Hedge Funds

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