RMR Group reports Q3 adjusted net income 28c, consensus 28c

The company said, “Our private capital initiatives continue to gain traction with a recent value-add retail acquisition near Chicago, IL for $21 million and two pending Sunbelt value-add residential acquisitions for $147 million. We ended the quarter with over $121 million of cash on hand and we continue to engage institutional investors across multiple private capital investment strategies. We expect recent improvements at several of our Managed REITs, combined with continued private capital deployment, will yield attractive returns for our shareholders.”