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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The RMR Group
The RMR Group (RMR) investor relations material
The RMR Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Aug, 2026
Executive summary
Fiscal Q3 2026 results met expectations, with distributable earnings of $0.48 per share and adjusted EBITDA of $19.7 million, reflecting stable performance amid economic and geopolitical uncertainty.
Managed REITs DHC and ILPT have delivered strong shareholder returns and are among the best-performing REITs in the U.S. over the past three years.
Operational improvements, deleveraging, and strengthened balance sheets position key REIT clients for continued success.
SVC improved liquidity via $1 billion in hotel sales and $575 million in new equity; OPI completed restructuring and remains a client.
Manages over $37 billion in assets with a nationwide presence and 40 years of experience.
Financial highlights
Adjusted EBITDA for Q3 was $19.7 million; distributable earnings were $0.48 per share, both in line with guidance.
Recurring service revenues reached $45.5 million, up $3.5 million sequentially, driven by higher enterprise values and acquisition fees.
DHC reported normalized FFO of $0.16 per share and adjusted EBITDA of $82 million, both above consensus; SVC posted normalized FFO per share of $0.43 and adjusted EBITDA of $146 million.
Net income for the quarter was $7.4 million, with a net income margin of 16.2%.
Quarterly dividend declared at $0.45 per share, with a payout ratio of 66.7%.
Outlook and guidance
Next quarter, recurring service revenues are expected to remain around $45 million; adjusted EBITDA guidance is $19–$21 million, and distributable earnings are projected at $0.48–$0.50 per share.
Full-year adjusted EBITDA is expected to be $76.5–$78.5 million, excluding incentive fees.
Management expects to continue investing in private capital initiatives and expanding capital formation capabilities.
Private capital fundraising remains challenging, but management views headwinds as temporary and continues to invest in this initiative.
Management targets a return to historical EBITDA margins of 50% through revenue growth and operational leverage.
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Latest events from The RMR Group
- Distributable Earnings and Adjusted EBITDA beat guidance as margin rose to 45.9%.RMR
Q4 2026 - $37B AUM, high margins, private capital growth, and AI-driven efficiency position for strong upside.RMRInvestor presentation
- $37B+ AUM, durable revenues, and scalable growth drive strong financial and upside potential.RMRInvestor presentation
- $37B AUM, high-margin recurring revenues, and private capital growth drive strong upside.RMRInvestor presentation
- Q2 2026 earnings and AUM exceeded expectations, with strong liquidity and REIT outperformance.RMRQ2 2026
- Board elections, advisory votes, and Q&A session highlighted the annual meeting.RMRAGM 2026
- Q1 2026 results beat expectations with 91% net income growth and strong incentive fees.RMRQ1 2026
- Q4 results met expectations; $41B in CRE assets and 2025 investments to accelerate growth.RMRQ4 2024
- Net income fell but AUM reached $41.3B as private capital strategies and liquidity remained strong.RMRQ3 2024
Next The RMR Group earnings date
Q4 202613 Nov, 2026
The RMR Group
Next The RMR Group earnings date
Q4 202613 Nov, 2026
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Frequently asked questions
The RMR Group, Inc. is an experienced real estate company that provides advisory and management services to its four publicly traded real estate investment trusts (REITs) operating in the U.S. and Canada. The company also provides property management services through its three operating companies, covering properties primarily in the northeastern region of the United States.