0001104659-18-003055.txt : 20180119 0001104659-18-003055.hdr.sgml : 20180119 20180119161454 ACCESSION NUMBER: 0001104659-18-003055 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180119 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180119 DATE AS OF CHANGE: 20180119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RMR GROUP INC. CENTRAL INDEX KEY: 0001644378 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 474122583 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37616 FILM NUMBER: 18537514 BUSINESS ADDRESS: STREET 1: TWO NEWTON PL., 255 WASH. ST., STE. 300 CITY: NEWTON STATE: MA ZIP: 02458 BUSINESS PHONE: (617) 796-8320 MAIL ADDRESS: STREET 1: TWO NEWTON PL., 255 WASH. ST., STE. 300 CITY: NEWTON STATE: MA ZIP: 02458 FORMER COMPANY: FORMER CONFORMED NAME: RMR Group Inc. DATE OF NAME CHANGE: 20150910 FORMER COMPANY: FORMER CONFORMED NAME: Reit Management & Research Inc. DATE OF NAME CHANGE: 20150608 8-K 1 a18-3438_28k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

January 19, 2018

Date of Report

(Date of earliest event reported)

 

The RMR Group Inc.

(Exact name of registrant as specified in its charter)

 

MARYLAND

 

8742

 

47-4122583

(State or other jurisdiction
of incorporation)

 

(Primary Standard Industrial
Classification Code Number)

 

(IRS Employer
Identification Number)

 

Two Newton Place, 255 Washington Street, Suite 300, Newton, MA, 02458-1634

(Address of principal executive offices, including zip code)

 

(617) 796-8230

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

x          Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

 

 



 

In this Current Report on Form 8-K, the term “our” or the “Company” refers to The RMR Group Inc. and its consolidated subsidiaries

 

Item 2.02.  Results of Operations and Financial Condition.

 

On January 19, 2018, the Company issued a press release regarding incentive management fees that the Company earned from certain of our client companies for the calendar year 2017 based upon the three year measurement periods ended December 31, 2017. These fees will be recognized in the Company’s consolidated financial statements as of and for the fiscal quarter ended December 31, 2017. A copy of the Company’s press release is furnished as Exhibit 99.1 hereto.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d)  Exhibits.

 

99.1

Press release, dated January 19, 2018.

 

2



 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

THE RMR GROUP INC.

 

 

Date: January 19, 2018

By:

/s/ Matthew P. Jordan

 

 

Matthew P. Jordan

 

 

Chief Financial Officer and Treasurer

 

3


EX-99.1 2 a18-3438_2ex99d1.htm EX-99.1

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

 

Contact:

 

 

Timothy A. Bonang, Senior Vice President

 

 

(617) 796-8230

 

The RMR Group Announces Incentive Business Management Fees

Earned in Calendar Year 2017

 

Newton, MA (January 19, 2018):  The RMR Group Inc. (Nasdaq: RMR) today announced that a total of $155.9 million in incentive business management fees has been earned for the 2017 calendar year from certain managed companies based upon the three year measurement periods ended December 31, 2017.  Incentive business management fees, if earned, are payable annually in January following the year in which they are earned.

 

RMR earned $74.6 million from Hospitality Properties Trust (Nasdaq: HPT).  HPT’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Hotel Index by 15.0%.

 

RMR earned $55.7 million from Senior Housing Properties Trust (Nasdaq: SNH).  SNH’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Healthcare Index by 8.9%.

 

RMR earned $25.6 million from Select Income REIT (Nasdaq: SIR).  SIR’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Equity Index by 9.8%.

 

More information concerning the calculation of the incentive business management fee can be found under the heading “Incentive Fee” in each managed company’s most recent Annual Report on Form 10-K filing, which is available on the Securities and Exchange Commission’s website located at www.sec.gov.

 

The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority owned 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 operating companies. As of September 30, 2017, The

 



 

RMR Group LLC had approximately $28.5 billion of total assets under management, including more than 1,400 properties, and employed over 475 real estate professionals in more than 35 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 53,000 employees and total revenues for the 12 months ended September 30, 2017 of over $11 billion. 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. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON RMR’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND RMR’S CONTROL. FOR EXAMPLE, THIS PRESS RELEASE REPORTS THAT AGGREGATE INCENTIVE BUSINESS MANAGEMENT FEES OF $155.9 MILLION HAVE BEEN EARNED FROM CERTAIN MANAGED COMPANIES FOR THE YEAR ENDED DECEMBER 31, 2017. AN IMPLICATION OF THIS STATEMENT MAY BE THAT INCENTIVE BUSINESS MANAGEMENT FEES MAY BE EARNED IN THE FUTURE. THE INCENTIVE BUSINESS MANAGEMENT FEES WHICH MAY BE EARNED ARE BASED UPON TOTAL RETURNS REALIZED BY THE SHAREHOLDERS COMPARED TO THE SHAREHOLDERS TOTAL RETURN OF CERTAIN IDENTIFIED INDICES. RMR HAS LIMITED CONTROL OVER THE TOTAL RETURNS REALIZED BY SHAREHOLDERS OF ITS MANAGED COMPANIES AND EFFECTIVELY NO CONTROL OVER INDEXED TOTAL RETURNS. THERE CAN BE NO ASSURANCE THAT INCENTIVE BUSINESS MANAGEMENT FEES WILL BE EARNED IN THE FUTURE.

 

FOR THE FOREGOING REASONS, AMONG OTHERS, INVESTORS IN THE RMR GROUP INC. SECURITIES ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS. 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.

 

(end)

 


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