Zacks Investment Research Lowers RMR Group (NASDAQ:RMR) to Hold

Zacks Investment Research lowered shares of RMR Group (NASDAQ:RMR) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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 equities analysts have also recently issued reports on the company. Bank of America began coverage on RMR Group in a report on Monday, September 16th. They issued an underperform rating for the company. UBS Group began coverage on RMR Group in a report on Friday, October 11th. They issued a neutral rating and a $46.00 target price for the company. BidaskClub cut RMR Group from a hold rating to a sell rating in a report on Wednesday. Morgan Stanley began coverage on RMR Group in a report on Monday, October 21st. They issued an equal weight rating and a $46.00 target price for the company. Finally, B. Riley began coverage on RMR Group in a report on Monday, November 25th. They issued a buy rating and a $66.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. RMR Group presently has an average rating of Hold and an average target price of $52.31.

Shares of RMR opened at $46.97 on Thursday. RMR Group has a 12-month low of $41.69 and a 12-month high of $77.83. The business has a 50-day simple moving average of $47.11 and a two-hundred day simple moving average of $47.55. The stock has a market cap of $1.48 billion, a PE ratio of 9.79 and a beta of 1.21.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from RMR Group’s previous quarterly dividend of $0.35. RMR Group’s payout ratio is 31.47%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY grew its position in shares of RMR Group by 98.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,135 shares of the financial services provider’s stock valued at $234,000 after buying an additional 2,551 shares during the last quarter. Millennium Management LLC grew its position in shares of RMR Group by 1,085.9% in the 3rd quarter. Millennium Management LLC now owns 150,494 shares of the financial services provider’s stock valued at $6,844,000 after buying an additional 137,804 shares during the last quarter. Zebra Capital Management LLC grew its position in shares of RMR Group by 12.4% in the 3rd quarter. Zebra Capital Management LLC now owns 8,068 shares of the financial services provider’s stock valued at $367,000 after buying an additional 887 shares during the last quarter. Zimmer Partners LP grew its position in shares of RMR Group by 18.9% in the 3rd quarter. Zimmer Partners LP now owns 742,880 shares of the financial services provider’s stock valued at $33,786,000 after buying an additional 117,880 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of RMR Group by 90.9% during the 3rd quarter. Barclays PLC now owns 25,335 shares of the financial services provider’s stock valued at $1,152,000 after purchasing an additional 12,067 shares in the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

About RMR Group

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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