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Dec 31, 2019
RMR Q1 2020 Earnings Report
RMR Group Inc. announced first quarter fiscal 2020 results.
Key Takeaways
The RMR Group Inc. reported net income attributable of $9.4 million, or $0.58 per diluted share and adjusted net income attributable of $9.3 million, or $0.57 per diluted share for the quarter ended December 31, 2019.
Gross assets under management were $32.2 billion as of December 31, 2019, compared to $29.7 billion as of December 31, 2018.
Fee paying assets under management were $24.9 billion on December 31, 2019 compared to $23.4 billion on December 31, 2018.
Total management and advisory services revenues were $48.1 million for the quarter ended December 31, 2019, compared to $168.4 million for the quarter ended December 31, 2018.
As of December 31, 2019, The RMR Group Inc. had $385.7 million in cash and cash equivalents with no outstanding debt obligations.
Forward Guidance
The RMR Group Inc. is well positioned to assess strategic opportunities for future growth.
Positive Outlook
- The integration of Service Properties Trust’s $2.4 billion net leased retail portfolio acquisition has progressed as planned.
- Incremental financial benefits to The RMR Group are remaining in line with forecasts.
- The RMR Group is making significant progress in executing on the repositioning efforts at Office Properties Income Trust.
- The RMR Group is making significant progress in executing on the repositioning efforts at Diversified Healthcare Trust.
- Balance sheet continues to leave RMR well positioned to assess strategic opportunities for future growth.
Challenges Ahead
- Integrating acquisitions and executing strategic repositionings are subject to various risks.
- The RMR Group and its Client Companies may not realize the benefits they expect from these activities, including increased total shareholder returns at the applicable Client Companies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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