RMR Group (NASDAQ:RMR) PT Lowered to $70.00

RMR Group (NASDAQ:RMR) had its price target decreased by B. Riley from $80.00 to $70.00 in a research report released on Monday, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for RMR Group’s FY2019 earnings at $4.85 EPS, Q1 2020 earnings at $0.58 EPS, Q2 2020 earnings at $0.58 EPS, FY2020 earnings at $2.34 EPS and FY2021 earnings at $2.41 EPS.

RMR has been the topic of several other research reports. CIBC raised RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a report on Monday, July 1st. BidaskClub raised RMR Group from a strong sell rating to a sell rating in a report on Tuesday, July 2nd. S&P Equity Research raised RMR Group from a market perform rating to an outperform rating and set a $54.00 target price on the stock in a report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded RMR Group from a buy rating to a hold rating in a report on Friday, August 9th. Finally, Oppenheimer raised RMR Group from a market perform rating to an outperform rating and set a $54.00 target price on the stock in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. RMR Group has an average rating of Hold and a consensus target price of $57.40.

NASDAQ RMR opened at $43.76 on Monday. RMR Group has a twelve month low of $41.69 and a twelve month high of $98.00. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 18.78 and a beta of 1.19. The business’s fifty day moving average is $48.08 and its 200 day moving average is $56.85.

RMR Group (NASDAQ:RMR) last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). RMR Group had a net margin of 12.02% and a return on equity of 15.50%. The firm had revenue of $143.72 million for the quarter, compared to analyst estimates of $133.10 million. Equities research analysts anticipate that RMR Group will post 4.85 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 29th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, July 26th. RMR Group’s payout ratio is presently 60.09%.

In other RMR Group news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of RMR Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $40.00, for a total transaction of $105,496,320.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 55.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Engine Capital Management LP purchased a new position in shares of RMR Group in the 2nd quarter worth approximately $34,295,000. V3 Capital Management L.P. purchased a new position in shares of RMR Group in the 2nd quarter worth approximately $13,154,000. Zimmer Partners LP purchased a new position in shares of RMR Group in the 2nd quarter worth approximately $29,363,000. Nuveen Asset Management LLC purchased a new position in shares of RMR Group in the 2nd quarter worth approximately $3,116,000. Finally, Jane Street Group LLC purchased a new position in shares of RMR Group in the 2nd quarter worth approximately $1,871,000. 17.87% of the stock is owned by hedge funds and other institutional investors.

RMR Group Company Profile

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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