Zacks Investment Research Upgrades RMR Group (NASDAQ:RMR) to Buy

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RMR Group (NASDAQ:RMR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $55.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.24% from the stock’s current price.

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. “

A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. B. Riley set a $13.00 target price on Audioeye and gave the company a “buy” rating in a research note on Monday, May 13th. S&P Equity Research upgraded RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Monday, July 1st. They noted that the move was a valuation call. CIBC upgraded RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Monday, July 1st. Finally, Oppenheimer upgraded RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $59.40.

Shares of RMR opened at $49.00 on Tuesday. The firm has a market cap of $1.54 billion, a PE ratio of 21.03 and a beta of 1.19. The firm has a fifty day moving average price of $48.84. RMR Group has a 1 year low of $41.69 and a 1 year high of $98.00.

RMR Group (NASDAQ:RMR) last announced its quarterly earnings data on Friday, May 10th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $130.10 million during the quarter, compared to analyst estimates of $141.12 million. RMR Group had a net margin of 14.31% and a return on equity of 16.42%. As a group, sell-side analysts forecast that RMR Group will post 4.82 EPS for the current fiscal year.

In other 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 document filed with the Securities & Exchange Commission, which is available through this link. 55.10% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of RMR Group by 5.1% in the 4th quarter. Legal & General Group Plc now owns 3,483 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 168 shares in the last quarter. Bank of Montreal Can raised its stake 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 valued at $41,000 after acquiring an additional 343 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of RMR Group by 4.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,481 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 500 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of RMR Group by 3.9% in the 1st quarter. Alps Advisors Inc. now owns 15,312 shares of the financial services provider’s stock valued at $934,000 after acquiring an additional 574 shares in the last quarter. Finally, Globeflex Capital L P raised its stake in shares of RMR Group by 4.2% in the 1st quarter. Globeflex Capital L P now owns 18,699 shares of the financial services provider’s stock valued at $1,140,000 after acquiring an additional 754 shares in the last quarter. 17.90% of the stock is currently owned by institutional investors and hedge funds.

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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