Zacks Investment Research upgraded shares of The RMR Group (NASDAQ:RMR) from a hold rating to a strong-buy rating in a research note issued to investors on Friday. The firm currently has $67.00 price objective 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. “
Several other brokerages have also recently commented on RMR. BidaskClub cut The RMR Group from a strong-buy rating to a buy rating in a report on Wednesday, December 6th. B. Riley reiterated a neutral rating on shares of The RMR Group in a report on Wednesday, November 1st. FBR & Co reiterated a neutral rating and issued a $51.00 target price (up from $50.00) on shares of The RMR Group in a report on Monday, October 2nd. Finally, Canaccord Genuity set a $68.00 target price on The RMR Group and gave the company a buy rating in a report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $62.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, October 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, October 20th. The RMR Group’s payout ratio is presently 35.97%.
A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its stake in The RMR Group by 17.7% in the first quarter. Teachers Advisors LLC now owns 37,887 shares of the financial services provider’s stock valued at $1,875,000 after buying an additional 5,689 shares during the period. Vanguard Group Inc. lifted its stake in The RMR Group by 8.7% in the first quarter. Vanguard Group Inc. now owns 572,314 shares of the financial services provider’s stock valued at $28,330,000 after buying an additional 45,603 shares during the period. Geode Capital Management LLC lifted its stake in The RMR Group by 19.2% in the first quarter. Geode Capital Management LLC now owns 97,314 shares of the financial services provider’s stock valued at $4,816,000 after buying an additional 15,686 shares during the period. Dimensional Fund Advisors LP lifted its stake in The RMR Group by 26.7% in the first quarter. Dimensional Fund Advisors LP now owns 142,451 shares of the financial services provider’s stock valued at $7,051,000 after buying an additional 29,980 shares during the period. Finally, Bank of America Corp DE lifted its stake in The RMR Group by 1.2% in the first quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock valued at $249,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 34.52% of the company’s stock.
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About The RMR Group
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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