The RMR Group(RMR)

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The RMR Group(RMR) - 2020 Q4 - Annual Report
2020-11-20 20:29
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-37616 THE RMR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-4122583 (State of Organization) (IRS Employer Identification No.) T ...
The RMR Group(RMR) - 2020 Q4 - Earnings Call Transcript
2020-11-20 20:25
Financial Data and Key Metrics Changes - For Q4 2020, the company reported adjusted net income of $6.4 million or $0.39 per share, with adjusted EBITDA of $20.8 million, reflecting a sequential increase of 6.1% [24][25] - Adjusted EBITDA margin improved to 48.8%, a sequential increase of 170 basis points [24][25] - Management and advisory services revenues were $40.2 million, in line with guidance and representing a sequential increase of almost $1 million [25][26] Business Line Data and Key Metrics Changes - ILPT's same property cash basis NOI increased by 1.9% year-over-year, with strong tenant leasing demand [11] - OPI's same-property cash basis NOI increased by 1.7% over the prior year, with occupancy above 91% and robust rent collections close to 99% [12][13] - DHC's office segment leasing activity more than doubled sequentially, with a 4.1% roll-up in rents [14][15] - SVC's hotel occupancy increased to 46% in September from a low of 21% in April, although it continues to face significant pandemic-related challenges [16][19] Market Data and Key Metrics Changes - The company noted that rent deferral activity has slowed considerably, and construction activity has seen limited delays due to the pandemic [26] - The healthcare REIT DHC has over $1 billion in liquidity and no near-term debt maturities, positioning it well despite pandemic-related headwinds [14] Company Strategy and Development Direction - The company is focused on ensuring client companies have adequate liquidity while preparing to take advantage of strategic opportunities [8] - The formation of a new private capital investment vehicle with a global sovereign wealth fund represents a new line of business for the company [9][10] - The company aims to grow its private capital management business through acquisitions or organic relationships [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic actions taken in response to the pandemic, believing unique opportunities may arise in the next 12 to 18 months [21] - The hospitality industry is expected to face challenges until the second half of 2021, but there is optimism for recovery post-vaccine availability [70][71] Other Important Information - The company ended the quarter with $370 million in cash and no debt, ensuring its dividend remains well covered [31] - Cash compensation for the quarter was $31.5 million, with expectations of approximately $30.5 million per quarter in fiscal 2021 [29][30] Q&A Session Summary Question: Details on ILPT and the new investment vehicle - The new vehicle will be deconsolidated from ILPT's financial statements, with management agreements similar to existing REITs [33][34] Question: Growth expectations for the new investment vehicle - The partners have an appetite for several billion dollars to invest in this asset class, with expectations for significant growth [40][41] Question: Comments on the hotel space recovery - The hospitality industry is expected to face challenges until mid-2021, but there is optimism for a quicker recovery than previously projected [71][72] Question: Key drivers for potential fee growth in the new vehicle - Fee growth will likely come from the growth of the vehicle itself, with partners eager to expand it significantly [80][81]
The RMR Group(RMR) - 2020 Q3 - Earnings Call Transcript
2020-08-08 04:35
The RMR Group Inc. (NASDAQ:RMR) Q3 2020 Earnings Conference Call August 7, 2020 1:00 PM ET Corporate Participants Michael Kodesch - Director, Investor Relations Adam Portnoy - President and Chief Executive Officer Matt Jordan - Chief Financial Officer Conference Call participants Owen Lau - Oppenheimer Kenneth Lee - RBC Capital Markets Bryan Maher - B. Riley FBR Bill Katz - Citigroup Dean Stephan - Bank of America Operator Good day, and welcome to The RMR Group's Fiscal Q3 2020 Earnings Conference Call. [Op ...
The RMR Group(RMR) - 2020 Q3 - Quarterly Report
2020-08-07 19:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-37616 THE RMR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-4122583 (State of Organization) (IRS Employer Identification No.) Two Newton Place ...
The RMR Group(RMR) - 2020 Q2 - Earnings Call Transcript
2020-05-11 22:39
The RMR Group Inc. (NASDAQ:RMR) Q2 2020 Earnings Conference Call May 11, 2020 1:00 PM ET Company Participants Michael Kodesch - Director, Investor Relations Adam Portnoy - President & Chief Executive Officer Matt Jordan - Chief Financial Officer Conference Call Participants Bill Katz - Citigroup Owen Lau - Oppenheimer Bryan Maher - B. Riley FBR Kenneth Lee - RBC Capital Markets Dean Stephan - America Merrill Lynch Ronald Kamdem - Morgan Stanley Operator Good day, and welcome to The RMR Group's Second Quarte ...
The RMR Group(RMR) - 2020 Q2 - Quarterly Report
2020-05-11 19:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-37616 THE RMR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-4122583 (State of Organization) (IRS Employer Identification No.) Two Newton Plac ...
The RMR Group(RMR) - 2020 Q1 - Earnings Call Transcript
2020-02-06 21:37
The RMR Group Inc. (NASDAQ:RMR) Q1 2020 Earnings Conference Call February 6, 2020 10:00 AM ET Company Participants Michael Kodesch – Director-Investor Relations Adam Portnoy – President and Chief Executive Officer Matt Jordan – Chief Financial Officer Conference Call Participants Bryan Maher – B. Riley FBR Owen Lau – Oppenheimer Bill Katz – Citigroup Kenneth Lee – RBC Capital Markets Ronald Kamdem – Morgan Stanley Dean Stephan – America Merrill Lynch Operator Good day, and welcome to the RMR Group First Qua ...
The RMR Group(RMR) - 2020 Q1 - Quarterly Report
2020-02-06 18:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-37616 THE RMR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-4122583 (State of Organization) (IRS Employer Identification No.) FORM 10-Q Indicate by ...
The RMR Group(RMR) - 2019 Q4 - Earnings Call Transcript
2019-11-22 21:50
The RMR Group Inc. (NASDAQ:RMR) Q4 2019 Earnings Conference Call November 22, 2019 2:00 PM ET Company Participants Timothy Bonang - SVP Adam Portnoy - President and CEO Matthew Jordan - CFO Conference Call Participants Owen Lau - Oppenheimer Mitch Germain - JMP Securities William Katz - Citigroup Ronald Kamdem - Morgan Stanley Bryan Maher - B. Riley FBR Operator Good day, and welcome to the RMR Group Fourth Quarter 2019 Financial Results Conference Call. All participants will be in a listen-only mode. [Oper ...
The RMR Group(RMR) - 2019 Q4 - Annual Report
2019-11-22 20:32
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-37616 THE RMR GROUP INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 47-4122583 (State of Organization) (IRS Employer Identification No.) T ...