The RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $43.00 target price on the financial services provider's stock. Zacks Investment Research's price objective indicates a potential upside of 10.54% from the stock's previous close.
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 research reports. BTIG Research reaffirmed a "buy" rating on shares of The RMR Group in a research note on Sunday, April 25th. TheStreet downgraded shares of The RMR Group from a "b-" rating to a "c" rating in a research note on Monday, May 10th. Finally, Morgan Stanley lifted their price target on shares of The RMR Group from $40.00 to $41.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. The RMR Group presently has an average rating of "Buy" and a consensus price target of $43.40.
Shares of NASDAQ RMR opened at $38.90 on Thursday. The company has a market capitalization of $1.22 billion, a P/E ratio of 24.31 and a beta of 1.69. The RMR Group has a 1 year low of $25.10 and a 1 year high of $44.16. The stock has a 50-day moving average price of $39.31.
The RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Friday, May 7th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.41 by ($0.04). The firm had revenue of $131.56 million during the quarter, compared to the consensus estimate of $153.02 million. The RMR Group had a return on equity of 4.71% and a net margin of 4.63%. Equities research analysts predict that The RMR Group will post 1.69 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMR. Nisa Investment Advisors LLC purchased a new position in The RMR Group in the first quarter worth $82,000. BNP Paribas Arbitrage SA grew its holdings in shares of The RMR Group by 20.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,882 shares of the financial services provider's stock valued at $118,000 after buying an additional 492 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of The RMR Group during the first quarter valued at $200,000. Avestar Capital LLC purchased a new stake in shares of The RMR Group during the first quarter valued at $237,000. Finally, Ergoteles LLC purchased a new stake in shares of The RMR Group during the first quarter valued at $278,000. 38.75% of the stock is currently owned by institutional investors and hedge funds.
The 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 four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2020, it had approximately 2,100 properties in 47 states under management, which are primarily owned by the Managed Equity REITs.
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