Zacks Investment Research upgraded shares of RMR Group (NASDAQ:RMR) from a hold rating to a buy rating in a report released on Thursday, January 4th. The firm currently has $67.00 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 subject of several other reports. B. Riley set a $55.00 target price on shares of RMR Group and gave the company a hold rating in a research note on Wednesday, December 13th. BidaskClub upgraded shares of RMR Group from a hold rating to a buy rating in a research note on Tuesday, November 14th. FBR & Co reiterated a neutral rating and issued a $51.00 target price (up from $50.00) on shares of RMR Group in a research note on Monday, October 2nd. TheStreet raised shares of RMR Group from a c rating to a b- rating in a report on Tuesday, December 12th. Finally, Oppenheimer reissued a hold rating on shares of RMR Group in a report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $60.50.
RMR Group (NASDAQ:RMR) last issued its earnings results on Tuesday, December 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.12. RMR Group had a net margin of 15.56% and a return on equity of 11.27%. equities research analysts forecast that RMR Group will post 1.97 EPS for the current year.
The business also recently declared a dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 29th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 26th. This represents a yield of 0.00384024577572965%. RMR Group’s dividend payout ratio is currently 38.17%.
Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in RMR Group in the 2nd quarter valued at about $211,000. Voya Investment Management LLC bought a new position in RMR Group in the 2nd quarter valued at about $218,000. Aperio Group LLC bought a new position in RMR Group in the 3rd quarter valued at about $264,000. First Trust Advisors LP bought a new position in RMR Group in the 3rd quarter valued at about $292,000. Finally, Dupont Capital Management Corp bought a new position in shares of RMR Group during the third quarter worth approximately $293,000. 34.54% of the stock is currently owned by hedge funds and other institutional investors.
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About 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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