OR Royalties (NYSE:OR) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of OR Royalties (NYSE:OR) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

OR has been the subject of a number of other reports. Scotiabank lifted their price objective on shares of OR Royalties from $41.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Zacks Research raised OR Royalties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of OR Royalties in a report on Wednesday, February 4th. Finally, Raymond James Financial upgraded OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, OR Royalties has an average rating of “Moderate Buy” and an average target price of $38.25.

OR Royalties Stock Performance

Shares of OR opened at $44.62 on Friday. OR Royalties has a fifty-two week low of $17.55 and a fifty-two week high of $47.75. The business has a 50-day moving average of $40.21 and a 200 day moving average of $36.41. The firm has a market cap of $8.36 billion, a P/E ratio of 40.93 and a beta of 0.76.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $90.47 million during the quarter, compared to analyst estimates of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. As a group, research analysts predict that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. OR Royalties’s payout ratio is presently 20.18%.

Institutional Investors Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Horizon Kinetics Asset Management LLC lifted its holdings in shares of OR Royalties by 6.7% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,817,501 shares of the basic materials company’s stock worth $46,728,000 after acquiring an additional 114,464 shares during the last quarter. Forge First Asset Management Inc. bought a new position in OR Royalties in the second quarter valued at $2,385,000. CWA Asset Management Group LLC increased its stake in OR Royalties by 112.6% in the third quarter. CWA Asset Management Group LLC now owns 381,747 shares of the basic materials company’s stock valued at $15,300,000 after acquiring an additional 202,173 shares during the last quarter. Synergy Asset Management LLC raised its position in OR Royalties by 200.0% during the third quarter. Synergy Asset Management LLC now owns 52,851 shares of the basic materials company’s stock valued at $2,118,000 after purchasing an additional 35,234 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in OR Royalties during the third quarter worth about $2,649,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

About OR Royalties

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.