RMR Group slides after Q4 profit misses expectation

RMR group

12/11/2024 18:10

** Shares of alternative asset manager RMR Group  RMR.O 
fall as much as 8.5%, last down 6.8% at $22.78
    ** RMR late on Monday posted Q4 adjusted profit of 34
cents/shr, missing Wall Street expectations of 38 cents/shr -
LSEG data
    ** Profit adversely impacted by depreciation and
amortization costs from multi-family property acquisition in
Denver and year-end reconciliations to annual tax rate - RMR
    ** Q4 revenue fell 4.8% to $212.3 mln, also missing
estimates of $220.4 mln
    ** Oppenheimer says RMR remains well positioned for growth
with $140 mln of cash and no corporate debt
    ** As of last close, RMR shares down 13.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))