In a report released today, Chris Kotowski from Oppenheimer maintained a Hold rating on The RMR Group Inc (NASDAQ: RMR). The company’s shares opened today at $87, close to its 52-week high of $89.50.
Kotowski said:
“RMR reported $0.52 vs. our $0.49 estimate. Excluding special items, we would put the “core” number at $0.58 vs. our $0.53 core estimate. Total revenues of $62.1M, $3.1M higher than our $59.0M estimate, primarily drove the beat. Exhibit 1 shows the actual results vs. our estimates. With all eyes on the $280M cash pile, RMR announced a $100M commitment to launch the RMR Office Property Fund. ABT Trust, the CEO’s family office, will contribute 15 office properties worth $206M to the fund. The fund will be marketed to private investors and targets an 8-10% annual return. RMR LLC will act as both property manager and LP of the fund, and management expects this fund to grow to $1B+ gross AUM within the next five years.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.5% and a 68.9% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Fidus Investment Corporation, and Solar Senior Capital Ltd.
Currently, the analyst consensus on The RMR Group Inc is a Hold with an average price target of $89.
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Based on The RMR Group Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.38 million. In comparison, last year the company had a net profit of $6.83 million.
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RMR Group, Inc. is a holding company, which all of its business is conducted by its majority owned subsidiaries. It operates through RMR LLC, and All other operations. The RMR LLC manages real estate related businesses. The All Other Operations segment includes the operations of RMR Inc., RMRM Advisors, Tremont Advisors, and RMR Intl.
