StockNews.com Downgrades The RMR Group (NASDAQ:RMR) to Hold

The RMR Group (NASDAQ:RMR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, B. Riley reaffirmed a “buy” rating and set a $37.00 price objective on shares of The RMR Group in a report on Wednesday, August 23rd.

The RMR Group Stock Performance

RMR opened at $24.25 on Friday. The firm has a market cap of $766.54 million, a P/E ratio of 7.09 and a beta of 1.41. The firm has a 50-day moving average of $23.80 and a 200 day moving average of $23.48. The RMR Group has a fifty-two week low of $20.79 and a fifty-two week high of $31.55.

Institutional Investors Weigh In On The RMR Group

A number of institutional investors and hedge funds have recently modified their holdings of RMR. Swiss National Bank lifted its holdings in shares of The RMR Group by 8.0% in the first quarter. Swiss National Bank now owns 36,592 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 2,700 shares in the last quarter. Bank of New York Mellon Corp raised its stake in The RMR Group by 16.7% in the first quarter. Bank of New York Mellon Corp now owns 106,663 shares of the financial services provider’s stock valued at $3,317,000 after purchasing an additional 15,225 shares in the last quarter. MetLife Investment Management LLC raised its stake in The RMR Group by 58.7% in the first quarter. MetLife Investment Management LLC now owns 7,468 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 2,762 shares in the last quarter. Rhumbline Advisers raised its stake in The RMR Group by 13.7% in the first quarter. Rhumbline Advisers now owns 59,204 shares of the financial services provider’s stock valued at $1,841,000 after purchasing an additional 7,138 shares in the last quarter. Finally, BlackRock Inc. raised its stake in The RMR Group by 0.4% in the first quarter. BlackRock Inc. now owns 1,325,799 shares of the financial services provider’s stock valued at $41,232,000 after purchasing an additional 4,845 shares in the last quarter. 38.51% of the stock is owned by hedge funds and other institutional investors.

The RMR Group Company Profile

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. The company offers management services to its four publicly traded real estate investment trusts and three real estate operating companies. It also provides investment advisory and administrative services.