Bank of America Begins Coverage on RMR Group (NASDAQ:RMR)

Bank of America started coverage on shares of RMR Group (NASDAQ:RMR) in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. The brokerage issued an underperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of RMR Group from a buy rating to a hold rating in a research note on Friday, August 9th. ValuEngine downgraded shares of RMR Group from a hold rating to a sell rating in a research report on Friday, July 26th. CIBC upgraded shares of RMR Group from a market perform rating to an outperform rating and set a $54.00 target price on the stock in a research report on Monday, July 1st. Oppenheimer upgraded shares of RMR Group from a market perform rating to an outperform rating and set a $54.00 target price on the stock in a research report on Monday, July 1st. Finally, B. Riley cut their target price on shares of RMR Group from $80.00 to $70.00 and set a buy rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $55.50.

RMR opened at $45.99 on Monday. The company’s 50 day moving average is $46.35 and its 200-day moving average is $53.03. RMR Group has a 1-year low of $41.69 and a 1-year high of $95.12. The company has a market cap of $1.44 billion, a P/E ratio of 19.74 and a beta of 1.22.

RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). RMR Group had a net margin of 12.02% and a return on equity of 15.50%. The company had revenue of $143.72 million during the quarter, compared to analyst estimates of $133.10 million. On average, equities analysts predict that RMR Group will post 4.81 earnings per share for the current fiscal year.

In other news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.00, for a total value of $105,496,320.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 55.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RMR. Vanguard Group Inc. lifted its position in shares of RMR Group by 93.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,039,460 shares of the financial services provider’s stock worth $95,814,000 after purchasing an additional 982,739 shares during the period. Engine Capital Management LP bought a new stake in shares of RMR Group in the 2nd quarter valued at $34,295,000. Zimmer Partners LP bought a new stake in shares of RMR Group in the 2nd quarter valued at $29,363,000. Indaba Capital Management L.P. bought a new stake in shares of RMR Group in the 2nd quarter valued at $23,490,000. Finally, EdgePoint Investment Group Inc. bought a new stake in shares of RMR Group in the 2nd quarter valued at $13,981,000. Hedge funds and other institutional investors own 47.20% 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 five publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2018, the company had approximately 1,700 properties under management, which are primarily owned by its Managed Equity REITs.

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Analyst Recommendations for RMR Group (NASDAQ:RMR)

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