RMR Group initiated with a Market Perform at JMP Securities

JMP Securities initiated coverage of RMR Group with a Market Perform rating and no price target. The analyst views the company’s income stream as “highly durable,” backed by long-term management contracts. While the firm sees limited risk to cash flows, it believes RMR’s earnings growth potential trails peers, suggesting the valuation discount is warranted. As such, JMP sees the shares as fairly valued.