RMR Group (NASDAQ:RMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

Other equities analysts have also issued research reports about the company. B. Riley set a $89.00 price target on RMR Group and gave the stock a “hold” rating in a research note on Monday, August 13th. BidaskClub lowered RMR Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. ValuEngine lowered RMR Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, TheStreet lowered RMR Group from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. RMR Group presently has a consensus rating of “Hold” and an average price target of $79.50.

RMR opened at $64.73 on Friday. RMR Group has a 1 year low of $52.81 and a 1 year high of $98.00. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 27.78 and a beta of 0.61.

RMR Group (NASDAQ:RMR) last posted its earnings results on Monday, December 3rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.06. RMR Group had a return on equity of 8.70% and a net margin of 23.72%. The company had revenue of $65.07 million for the quarter, compared to analyst estimates of $62.32 million. As a group, equities research analysts expect that RMR Group will post 2.65 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of RMR. Principal Financial Group Inc. acquired a new stake in shares of RMR Group in the first quarter valued at approximately $219,000. Eqis Capital Management Inc. acquired a new stake in shares of RMR Group in the second quarter valued at approximately $225,000. First Trust Advisors LP increased its holdings in shares of RMR Group by 1,065.2% in the second quarter. First Trust Advisors LP now owns 80,724 shares of the financial services provider’s stock valued at $6,333,000 after purchasing an additional 73,796 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of RMR Group by 15.9% in the second quarter. Victory Capital Management Inc. now owns 4,976 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 681 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in shares of RMR Group by 8.6% in the second quarter. IndexIQ Advisors LLC now owns 31,272 shares of the financial services provider’s stock valued at $2,453,000 after purchasing an additional 2,487 shares in the last quarter. Institutional investors and hedge funds own 18.85% 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 four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2017, the company had approximately 1,400 properties under management, which are primarily owned by its Managed Equity REITs.

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