Royal Bank of Canada began coverage on shares of RMR Group (NASDAQ:RMR) in a report issued on Thursday, December 12th, BenzingaRatingsTable reports. The firm issued a sector perform rating and a $49.00 price target on the financial services provider’s stock.
Other analysts also recently issued research reports about the company. BidaskClub downgraded RMR Group from a hold rating to a sell rating in a research note on Wednesday, November 27th. UBS Group began coverage on RMR Group in a report on Friday, October 11th. They set a neutral rating and a $46.00 price objective for the company. Bank of America started coverage on RMR Group in a research note on Monday, September 16th. They issued an underperform rating on the stock. Citigroup started coverage on RMR Group in a research report on Wednesday, September 4th. They set a neutral rating and a $46.00 price target for the company. 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. RMR Group presently has a consensus rating of Hold and an average target price of $51.89.
NASDAQ RMR traded up $0.85 during trading hours on Thursday, reaching $46.16. 114,963 shares of the company’s stock were exchanged, compared to its average volume of 92,317. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.36 and a beta of 1.17. RMR Group has a one year low of $41.69 and a one year high of $77.83. The company’s 50-day moving average is $47.09 and its two-hundred day moving average is $47.06.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMR. Strs Ohio boosted its position in RMR Group by 7.9% during the second quarter. Strs Ohio now owns 10,900 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 800 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its stake in RMR Group by 17.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,531 shares of the financial services provider’s stock valued at $636,000 after buying an additional 2,050 shares during the last quarter. Aperio Group LLC grew its stake in RMR Group by 101.8% in the 2nd quarter. Aperio Group LLC now owns 10,060 shares of the financial services provider’s stock valued at $473,000 after buying an additional 5,074 shares during the last quarter. Swiss National Bank raised its holdings in RMR Group by 9.0% in the 2nd quarter. Swiss National Bank now owns 12,092 shares of the financial services provider’s stock valued at $568,000 after acquiring an additional 1,000 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in RMR Group by 76.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 7,923 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 3,440 shares during the period. 41.14% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Dividend
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