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

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

RMR has been the topic of several other reports. CIBC upgraded shares of RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research report on Monday, July 1st. S&P Equity Research upgraded shares of RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research report on Monday, July 1st. They noted that the move was a valuation call. Oppenheimer upgraded shares of RMR Group from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a research report on Monday, July 1st. Citigroup initiated coverage on shares of RMR Group in a research report on Wednesday, September 4th. They issued a neutral rating and a $46.00 price objective on the stock. Finally, ValuEngine cut shares of RMR Group from a hold rating to a sell rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $55.50.

Shares of RMR opened at $45.99 on Monday. The business’s 50-day moving average price is $46.35 and its 200-day moving average price is $53.03. RMR Group has a twelve month low of $41.69 and a twelve month high of $95.12. The stock has a market cap of $1.44 billion, a PE ratio of 19.74 and a beta of 1.22.

RMR Group (NASDAQ:RMR) last posted 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). The company had revenue of $143.72 million during the quarter, compared to the consensus estimate of $133.10 million. RMR Group had a return on equity of 15.50% and a net margin of 12.02%. Equities analysts expect that RMR Group will post 4.81 earnings per share for the current year.

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

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in RMR Group by 333.5% in the second quarter. US Bancorp DE now owns 698 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 537 shares during the period. Bank of Montreal Can lifted its holdings in shares of RMR Group by 104.3% in the 1st quarter. Bank of Montreal Can now owns 672 shares of the financial services provider’s stock worth $41,000 after buying an additional 343 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of RMR Group by 1,161.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,056 shares of the financial services provider’s stock worth $97,000 after buying an additional 1,893 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of RMR Group by 255.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,836 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,320 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of RMR Group in the 2nd quarter worth $224,000. 47.20% 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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Analyst Recommendations for RMR Group (NASDAQ:RMR)

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