NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) was recently ranked 75th on Fortune Magazine’s 100 Fastest-Growing Companies list for 2019. The ranking, applied to U.S. publicly traded companies, is based on the combination of revenue growth, earnings growth and the three-year annualized total return for the period ended June 28, 2019. RMR is one of only three real estate related companies to rank on this list.
This ranking follows several recent honors from industry and government organizations achieved by RMR and the client companies it manages. Between January and June 2019, four properties managed by The RMR Group LLC achieved BOMA 360 designation and four properties earned LEED certifications. In June 2019, RMR client company Office Properties Income Trust (Nasdaq: OPI) was named a 2019 Green Lease Leader. In April, both RMR and OPI received 2019 ENERGY STAR® Partner of the Year Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy.
“This recognition from Fortune Magazine is the result of RMR’s careful stewardship of our client companies and commitment to growing our business,” said Adam Portnoy, President and Chief Executive Officer of RMR. “We are unique as an alternative asset manager because we are a vertically integrated real estate organization. We believe that a steady focus on property level operations can translate into strong long-term financial performance. With $377 million in cash and no debt on our balance sheet, we believe we are well-positioned for continued growth.”
To learn more about Fortune's 2019 list of the 100 Fastest-Growing Companies, visit https://fortune.com/100-fastest-growing-companies/2019.
About The RMR Group Inc.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned operating subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of June 30, 2019, The RMR Group LLC had approximately $30.6 billion of total assets under management, including more than 1,500 properties, and employed nearly 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
WARNING REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements can be identified by use of words such as “outlook,” “believe,” “expect,” “potential,” “will,” “may,” “estimate,” “anticipate” and derivatives or negatives of such words or similar words. Forward-looking statements in this press release are based upon present beliefs or expectations. However, forward-looking statements and their implications are not guaranteed to occur and may not occur for various reasons, including some reasons beyond The RMR Group Inc.’s control. For example:
- Mr. Portnoy states RMR’s belief that a steady focus on property level operations can translate into strong long-term financial performance. This statement may imply that RMR will maintain a steady focus on property level operations and that it will realize strong long-term financial performance. However, RMR’s business is subject to various risks, including risks outside its control. In addition, RMR may in the future pursue other business opportunities that may not be focused on property level operations and its long-term financial performance may not improve and could decline.
- Mr. Portnoy states that with $377 million in cash and no debt on RMR’s balance sheet, RMR believes that it is well-positioned for continued growth. This statement may imply that RMR will invest its cash in activities and opportunities that will result in it continuing to grow and that its operating performance and financial results will improve as a result. However, any activities and opportunities that RMR may elect to invest its cash in may not be successful and may not result in RMR realizing continued growth or improved operating performance or financial results. Further, RMR may not identify any activities and opportunities in the near or longer term that it wishes to invest its cash in, which may result in RMR experiencing decreased growth. Further, although RMR does not currently have any outstanding debt, it may incur debt in the future.
The information contained in The RMR Group Inc.’s filings with the SEC, including under the caption “Risk Factors” in The RMR Group Inc.’s periodic reports, or incorporated therein, identifies important factors that could cause differences from the forward-looking statements in this press release. The RMR Group Inc.’s filings with the SEC are available on its website and at www.sec.gov.
Except as required by law, The RMR Group Inc. undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.