RMR Group transferred with Buy rating at B. Riley

B. Riley kept a Buy rating on RMR Group (RMR) with a $24 price target following a transfer in coverage. The company’s 26.5% selloff year-to-date seems somewhat warranted because the public equity real estate investment trusts managed by RMR have also seen their stock prices decline, and the company generates revenue from fee streams that are based on percentages of managed public REITs’ total market caps, the analyst tells investors in a research note.