Equities analysts forecast that RMR Group Inc (NASDAQ:RMR) will report sales of $160.57 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for RMR Group’s earnings. The lowest sales estimate is $159.60 million and the highest is $161.53 million. RMR Group reported sales of $280.31 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 42.7%. The company is scheduled to announce its next earnings report on Thursday, February 6th.
On average, analysts expect that RMR Group will report full-year sales of $644.33 million for the current year, with estimates ranging from $637.70 million to $650.95 million. For the next year, analysts forecast that the company will report sales of $653.63 million, with estimates ranging from $642.80 million to $664.45 million. Zacks’ sales averages are an average based on a survey of analysts that follow RMR Group.
A number of analysts have recently issued reports on the stock. Citigroup initiated coverage on shares of RMR Group in a research note on Wednesday, September 4th. They set a “neutral” rating and a $46.00 price objective on the stock. Zacks Investment Research downgraded shares of RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Bank of America started coverage on shares of RMR Group in a report on Monday, September 16th. They set an “underperform” rating for the company. ValuEngine raised shares of RMR Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley assumed coverage on shares of RMR Group in a report on Monday, October 21st. They issued an “equal weight” rating and a $46.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.25.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were paid a dividend of $0.38 per share. This is a boost from RMR Group’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, October 25th. RMR Group’s dividend payout ratio is 31.47%.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in RMR Group by 93.0% in the second 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 in the last quarter. Engine Capital Management LP acquired a new stake in RMR Group during the second quarter valued at approximately $34,295,000. Zimmer Partners LP bought a new position in RMR Group during the 2nd quarter worth approximately $29,363,000. Indaba Capital Management L.P. bought a new position in RMR Group during the 2nd quarter worth approximately $23,490,000. Finally, EdgePoint Investment Group Inc. acquired a new position in shares of RMR Group in the 2nd quarter worth approximately $13,981,000. 41.31% of the stock is 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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