RMR Group Inc Stock Price, News & Analysis

Seven Hills Realty Trust (Nasdaq: SEVN) has announced its schedule for the third quarter 2024 financial results release and conference call. The company will issue a press release with the results after the Nasdaq closes on Monday, October 28, 2024. A conference call to discuss these results is scheduled for Tuesday, October 29, 2024, at 11:00 a.m. Eastern Time.

The call will be hosted by President and Chief Investment Officer Tom Lorenzini, CFO and Treasurer Fernando Diaz, and VP Jared Lewis. Investors can access the call via phone or a live audio webcast on the company's website. A replay of the call will be available until November 5, 2024, through both phone and web platforms.

Diversified Healthcare Trust (Nasdaq: DHC) has announced a $135 million sale of 18 triple net leased senior living communities to Brookdale Senior Living Inc. (NYSE: BKD). The properties, comprising 876 units across 10 states, have been leased and operated by Brookdale since 2003. The sale price equates to $154,000 per unit, reflecting a 7.3% in-place cap rate on the lease's annualized income.

DHC plans to use the proceeds to pay down its $941 million senior secured notes due January 2026. The transaction, expected to close in Q4 2024, is part of DHC's strategy to optimize its portfolio and enhance liquidity. The communities primarily serve assisted living and memory care residents, with properties located in Arizona, Colorado, Florida, Indiana, Michigan, Minnesota, North Carolina, Pennsylvania, South Carolina, and Tennessee.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $16.0 million first mortgage floating rate bridge loan for the Home2 Suites by Hilton Lake Mary Orlando, a 123-room extended-stay hotel in Lake Mary, Florida. The loan has a three-year initial term with two one-year extension options. This transaction demonstrates SEVN's ability to close deals in a competitive market while diversifying its portfolio with a premium hotel asset.

The property is strategically located within the Lake Mary Wellness and Technology Park, approximately 15 miles north of Downtown Orlando and 30 miles from Disney World. SEVN's manager, Tremont Realty Capital, was introduced to the deal by Highgate, a repeat borrower. SEVN aims to expand its presence across key asset classes and generate attractive risk-adjusted returns for shareholders.

The RMR Group (Nasdaq: RMR) has announced the early renewal of Vertex Pharmaceuticals' lease for 1.1 million square feet of office and laboratory space in Boston's Seaport District. The lease, which originally expired in December 2028, has been extended for approximately 15 years, through June 2044. This extension covers two properties: 50 Northern Avenue and 11 Fan Pier Boulevard.

Adam Portnoy, President and CEO of RMR, stated that this extension demonstrates the successful execution of RMR's strategy to create value for clients. The properties are owned by a joint venture, with RMR providing asset and property management services. Diversified Healthcare Trust (Nasdaq: DHC), an RMR client, owns a 10% equity interest in this joint venture.

Service Properties Trust (Nasdaq: SVC) has released its financial results for the second quarter of 2024. The company, a real estate investment trust, has over $11 billion invested in hotels and service-focused retail net lease properties. As of June 30, 2024, SVC owned 220 hotels with over 37,000 guest rooms across the United States, Puerto Rico, and Canada, as well as 749 service-focused retail net lease properties covering over 13.3 million square feet in the U.S.

SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $41 billion in assets under management. The company will hold a conference call on August 7, 2024, at 10:00 a.m. Eastern Time to discuss the Q2 results. Investors can access detailed financial information on the company's website.

The RMR Group Inc. (Nasdaq: RMR) has released its financial results for the fiscal quarter ended June 30, 2024. The detailed results are available on the company's website under the Quarterly Results section. RMR will host a conference call to discuss these results on Friday, August 2, 2024, at 10:00 a.m. Eastern Time. Investors can access the call by dialing (877) 270-2148 or (412) 902-6510 for international callers. A replay will be available for one week, and a live audio webcast will be accessible on RMR's website. The company emphasizes that transcription, recording, and retransmission of the call are prohibited without prior written consent.

Diversified Healthcare Trust (Nasdaq: DHC) has released its financial results for the second quarter of 2024. The detailed report is available on the company's website under the Quarterly Reports section. DHC will host a conference call on Friday, August 2, 2024, at 1:00 p.m. Eastern Time to discuss these results. Investors can access the call by dialing (877) 329-4297 or (412) 317-5435 for international callers. A replay will be available for one week, and a live audio webcast will be accessible on DHC's website. The company strictly prohibits any unauthorized transcription, recording, or retransmission of the conference call without prior written consent.

The RMR Group (Nasdaq: RMR) has acquired The Ridge at Lowry, a 240-unit apartment community in Denver, Colorado, for $70.0 million. The property will be rebranded as ARIUM at Lowry and undergo extensive renovations. This acquisition expands RMR's Denver residential presence to nearly 800 units. The purchase was funded with a $46.5 million mortgage loan at a 5.34% fixed interest rate and cash on hand.

RMR aims to capitalize on favorable demographics and strong rent growth in Denver. The company plans to deliver attainable living options in the Lowry neighborhood, situated between downtown Denver and Cherry Creek/Centennial sub-markets. With new supply in the surrounding area, RMR believes this investment will contribute to the community's growth and prosperity.

Office Properties Income Trust (OPI) has released its financial results for the second quarter of 2024. The detailed report is available on the company's website under the Quarterly Results section. OPI will host a conference call on Thursday, August 1, 2024, at 10:00 a.m. Eastern Time to discuss the Q2 results. Investors can access the call by dialing (877) 328-1172 (US) or (412) 317-5418 (international). A replay will be available for one week, and a live audio webcast will be accessible on OPI's website. The company has not provided specific financial figures or performance metrics in this press release, directing stakeholders to their website for detailed information.