The RMR Group (NASDAQ:RMR) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of The RMR Group (NASDAQ:RMR) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $37.00 price objective on the financial services provider’s stock.

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. “

Several other equities analysts also recently weighed in on RMR. BTIG Research lifted their target price on shares of The RMR Group from $44.00 to $47.00 and gave the stock a buy rating in a research note on Tuesday, August 31st. Morgan Stanley boosted their price target on shares of The RMR Group from $41.00 to $43.00 and gave the stock an equal weight rating in a research note on Tuesday, August 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The RMR Group presently has an average rating of Buy and an average target price of $43.00.

Shares of RMR stock opened at $33.62 on Wednesday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 19.89 and a beta of 1.72. The RMR Group has a 52 week low of $25.10 and a 52 week high of $47.12. The firm’s 50-day simple moving average is $38.28 and its two-hundred day simple moving average is $39.21.

The RMR Group (NASDAQ:RMR) last posted its earnings results on Thursday, August 5th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $145.24 million during the quarter, compared to the consensus estimate of $142.37 million. The RMR Group had a net margin of 4.83% and a return on equity of 4.97%. As a group, analysts expect that The RMR Group will post 1.76 earnings per share for the current year.

The company also recently announced a None dividend, which was paid on Thursday, September 16th. Shareholders of record on Monday, September 6th were paid a dividend of $7.00 per share. This is a boost from The RMR Group’s previous None dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 2nd. The RMR Group’s dividend payout ratio (DPR) is presently 85.88%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in The RMR Group by 20.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,882 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 492 shares during the period. Advisor Group Holdings Inc. raised its stake in The RMR Group by 219.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,772 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 3,279 shares during the period. Envestnet Asset Management Inc. purchased a new stake in The RMR Group during the 1st quarter valued at approximately $200,000. Metropolitan Life Insurance Co NY grew its holdings in The RMR Group by 102,600.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,135 shares of the financial services provider’s stock valued at $198,000 after buying an additional 5,130 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of The RMR Group in the second quarter valued at $203,000. Institutional investors own 38.33% of the company’s stock.

The RMR Group Company Profile

The RMR Group, Inc is a holding company, which engages in the provision of management services to the managed equity real estate investment trusts and the managed operators. It operates through the RMR LLC and All Other Operations segments. The RMR LLC segment invests in real estate and manages real estate related businesses.

Featured Story: Correction

Get a free copy of the Zacks research report on The RMR Group (RMR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The RMR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The RMR Group and related companies with MarketBeat.com's FREE daily email newsletter.