Oppenheimer analyst Owen Lau maintained a Hold rating on The RMR Group Inc (RMR) today. The company’s shares opened today at $63.46.
Lau observed:
“RMR had a busy F2Q19 quarter ended March 31, 2019. First OPI continued its disposition plan to sell 34 buildings for $198.5M in February and another building for $70M in March (total of $268.5M). Second, ILPT announced the acquisition of two property portfolios for $905.3M in February and subsequently closed in early April. Both of them are not surprising given the disposition plan laid out earlier and the firepower in ILPT we indicated in our previous note. Given the lower management fee of OPI driven by lower enterprise value after the merger, we expect that the management and advisory fee will decline from $48.3M in F2Q19, driving the “core” EPS to decline from $0.62 to $0.53.”
According to TipRanks.com, Lau is ranked #4185 out of 5179 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for The RMR Group Inc with a $89 average price target.
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Based on The RMR Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $51.86 million. In comparison, last year the company had a net profit of $8.31 million.
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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.
