The RMR Group Inc. (RMR) Earnings Call Transcripts

The RMR Group Inc.'s Latest Earnings Call - Q2 FY2026

In the fiscal second quarter of 2026, The RMR Group reported distributable earnings of $0.44 per share and adjusted EBITDA of $18.5 million, both at the high end of expectations. The company highlighted strong performance from its managed REITs, particularly DHC and ILPT, which contributed to incentive fees of $23.6 million for 2025. Looking ahead, RMR anticipates adjusted EBITDA for the next quarter to range between $19 million and $21 million, with distributable earnings expected to be between $0.48 and $0.50 per share, indicating a positive outlook despite ongoing market volatility.

Reported metrics

Guidance from management

Management expects adjusted EBITDA for the next quarter to be between $19 million and $21 million and distributable earnings to be between $0.48 and $0.50 per share, indicating a positive outlook despite market challenges.

What management said

More of the -- all systems go if the right opportunities present ourselves. We have about over $100 million of liquidity between cash on hand and undrawn capacity on our revolver. We are also fairly optimistic that we will be getting some cash back, especially as we are hopefully successful in syndicating the enhanced growth value, the fund that we have built up around the multifamily strategy. We have $100 million o...

Chris, it's not something we're actively pursuing at the moment in terms of setting up a distressed real estate fund. We have limited pockets within RMR and the different funds that we manage in groups that I think have a really attractive distressed opportunity presented itself to us. We could seriously consider about -- consider executing on it. But we don't -- we are not building out a strategy around that today.

What analysts pressed on

Analysts expressed concerns about the slowdown in fundraising efforts and the impact of geopolitical tensions on capital deployment. There were also questions regarding the company's strategy for consolidating assets and the potential for distressed asset acquisitions in the future.

Main topics on the call

• Strong Performance from Managed REITs — RMR's managed REITs, particularly DHC and ILPT, showed significant outperformance, with DHC achieving normalized FFO of $33 million and ILPT executing leases at rental rates 26% higher than prior rents. Management noted,...
• Incentive Fees Recognition — The company earned incentive fees of $23.6 million for 2025 and expects to earn similar fees in 2026, driven by the strong performance of its managed REITs. Management stated, "we are on track to earn incentive fees agai...
• Private Capital Growth Initiatives — RMR's private capital segment has grown to nearly $12 billion AUM, which management sees as a key driver for future revenue and earnings growth. Adam Portnoy mentioned, "the private capital segment of our business has gr...
• Guidance for Next Quarter — Management provided guidance for the next quarter, expecting adjusted EBITDA to be between $19 million and $21 million and distributable earnings to be between $0.48 and $0.50 per share. This guidance reflects a positive...

Read the full The RMR Group Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 The RMR Group Inc. earnings call transcripts on record, spanning February 6, 2020 to August 6, 2026. Based on this history, The RMR Group Inc. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

RMR

Exchange

NasdaqCM

Country

US

Sector

Real Estate

Industry

Real Estate Management and Development

Calls on record

29

First call

February 6, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly