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Sep 30, 2020
RMR Q4 2020 Earnings Report
Announced fourth quarter 2020 results with net income attributable to The RMR Group Inc. of $0.38 per diluted share and adjusted net income attributable to The RMR Group Inc. of $0.39 per diluted share.
Key Takeaways
The RMR Group Inc. reported a net income of $14.4 million for the fiscal fourth quarter ended September 30, 2020. Adjusted EBITDA was $20.8 million with an Adjusted EBITDA Margin of 48.8%. The company ended the fiscal year with $369.7 million in cash and no debt.
Gross assets under management were $32.3 billion as of September 30, 2020.
Fee paying assets under management were $20.6 billion on September 30, 2020.
Total management and advisory services revenues were $40.2 million for the quarter ended September 30, 2020.
Net income attributable to The RMR Group Inc. was $6.2 million, or $0.38 per diluted share.
Forward Guidance
The RMR Group Inc. remains focused on assessing opportunities to grow its private capital assets under management, both organically and through possible external acquisitions.
Positive Outlook
- The RMR Group Inc. believes its Client Companies have sufficient resources to weather near-term challenges.
- Rent collections remained strong at Managed Equity REITs.
- Rent relief requests are declining at Managed Equity REITs.
- Leasing activity is improving at Managed Equity REITs.
- The RMR Group Inc. believes its Client Companies are well-capitalized and, in some cases, are well positioned to be opportunistic in the near term.
Challenges Ahead
- The RMR Group Inc.’s business is subject to various risks, including risks outside its control.
- The impact and duration of the COVID-19 pandemic is not known.
- The current difficult economic conditions may continue and could deteriorate further and such adverse conditions may continue for a prolonged period.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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