RMR Group (NASDAQ:RMR) Posts Earnings Results, Misses Estimates By $0.01 EPS

RMR Group (NASDAQ:RMR) posted its quarterly earnings results on Friday. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01), Bloomberg Earnings reports. RMR Group had a return on equity of 16.42% and a net margin of 14.31%. The company had revenue of $143.72 million during the quarter, compared to the consensus estimate of $133.10 million.

Shares of RMR stock traded down $1.20 on Friday, reaching $46.07. The company’s stock had a trading volume of 151,154 shares, compared to its average volume of 163,571. RMR Group has a 12-month low of $41.69 and a 12-month high of $98.00. The firm has a market cap of $1.44 billion, a P/E ratio of 19.77 and a beta of 1.19. The company has a 50 day simple moving average of $48.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 29th will be given a $0.35 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.04%. RMR Group’s dividend payout ratio (DPR) is presently 60.09%.

A number of equities analysts have recently commented on the company. S&P Equity Research raised RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Monday, July 1st. They noted that the move was a valuation call. B. Riley assumed coverage on RMR Group in a report on Monday, May 13th. They issued a “buy” rating and a $80.00 price target for the company. Oppenheimer raised RMR Group from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Monday, July 1st. BidaskClub raised RMR Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, CIBC upgraded 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.40.

In related news, major shareholder Housing Properties Trus Senior sold 2,637,408 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $40.00, for a total value of $105,496,320.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 55.10% of the company’s stock.

Several hedge funds have recently modified their holdings of RMR. Bank of Montreal Can raised its position in RMR Group by 104.3% during the first quarter. Bank of Montreal Can now owns 672 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in RMR Group during the first quarter valued at about $54,000. BNP Paribas Arbitrage SA raised its position in RMR Group by 255.8% during the first quarter. BNP Paribas Arbitrage SA now owns 1,836 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,320 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in RMR Group by 377.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,584 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 2,043 shares in the last quarter. Finally, Legal & General Group Plc raised its position in RMR Group by 5.1% during the fourth quarter. Legal & General Group Plc now owns 3,483 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 17.98% of the company’s stock.

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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Earnings History for RMR Group (NASDAQ:RMR)

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