Welcome to our dedicated page for RMR Group news (Ticker: RMR), a resource for investors and traders seeking the latest updates and insights on RMR Group stock.
The RMR Group Inc. reports developments for a U.S. alternative asset manager focused on commercial real estate, residential real estate and related businesses. The company operates through its management platform and provides services to publicly owned REITs, real estate-related operating companies, real estate finance companies and other real estate investment vehicles.
Recurring RMR news includes fiscal-quarter results, common-share dividend declarations, investor presentations and updates tied to managed real estate clients. Coverage often reflects activity across office, industrial, healthcare, retail, hospitality, net lease, hotel and logistics property categories, as well as client financing, leasing, asset sales and portfolio management matters.
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Service Properties Trust (Nasdaq: SVC) will hold an Investor Day on May 23, 2022, at 4:00 p.m. Eastern Time in Chicago. The event will involve presentations from SVC and Sonesta International Hotels, concluding with a Q&A session. A live webcast and supporting materials will be available on SVC’s website. With over $12 billion in investments, SVC operates 298 hotels and nearly 800 retail properties across the U.S., Puerto Rico, and Canada. The RMR Group manages SVC, which boasts more than $37 billion in assets under management.
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The RMR Group Inc. (Nasdaq: RMR) reported a net income of $14.6 million, or $0.39 per diluted share, for the fiscal quarter ended March 31, 2022, marking a 30% increase year-over-year. Adjusted net income reached $8.2 million, or $0.50 per diluted share, reflecting a 35% growth. Total assets under management (AUM) surged to $37.7 billion, including a notable rise in managed private real estate capital AUM to $3.9 billion. Management and advisory services revenue increased 17% to $49.3 million, primarily due to the acquisition of Monmouth Real Estate Investment Corporation and a joint venture worth $703 million.
Service Properties Trust (SVC) reported a net loss of $(119.8) million or $(0.73) per share for Q1 2022, an improvement from $(195.0) million or $(1.19) per share in Q1 2021. Normalized FFO was $(3.4) million, improving from $(42.0) million a year earlier. Adjusted EBITDAre increased 85.1% to $90.1 million. Comparable RevPAR showed a marked recovery from 37.3% below 2019 levels in January to 25.7% in March 2022. The company has executed hotel sales valued at $539.3 million, enhancing liquidity as it navigates upcoming debt maturities.
Diversified Healthcare Trust (Nasdaq: DHC) reported its Q1 2022 financial results, with net income of $240.4 million ($1.01 per share) and normalized FFO of $(21.9) million ($(0.09) per share). The company achieved a $327.5 million gain from a joint venture involving 10 Office Portfolio properties, adding $653 million in cash. Occupancy improved in the SHOP segment, reaching 73.0%. However, the Office Portfolio experienced declining occupancy rates, and DHC's liquidity ratio fell below the 1.5x requirement for incurring new debt. Cash and equivalents totaled approximately $1.5 billion.
AlerisLife Inc. (Nasdaq: ALR) has appointed Jeff Leer as Interim President and CEO, effective May 1, 2022, following the resignation of Katie Potter. Leer, previously Executive VP, CFO, and Treasurer since 2019, will maintain his financial responsibilities while leading the company. The Board has also engaged Alvarez & Marsal for a comprehensive operational review, aiming to enhance financial performance. Recommendations are expected by Q2's end, and a search for a permanent CEO will begin post-review.
Office Properties Income Trust (Nasdaq: OPI) reported a net loss of $13.4 million, or $0.28 per share, for Q1 2022, contrasting with a net income of $37.9 million in Q1 2021. Normalized FFO stood at $62.7 million, or $1.30 per share, showing a slight increase year-over-year. The company leased 572,000 square feet, achieving a 5.1% increase in rent and a weighted average lease term of 10.7 years. OPI ended the quarter with nearly $850 million in liquidity and maintained guidance for $400 million to $500 million in property dispositions for 2022.
Seven Hills Realty Trust (Nasdaq: SEVN) reported financial results for Q1 2022, achieving net income of $11.1 million or $0.76 per share, down 46% year-over-year. Adjusted distributable earnings per share rose to $0.37, a 76% increase. Total loan commitments reached $685 million, bolstered by nearly $100 million in new loans this quarter. The company expanded its financing facilities, raising borrowing capacity to over $800 million. Despite a decline in net income and income from investments, SEVN maintained strong credit quality with no loans in default.