Healthcare of Ontario Pension Plan Trust Fund Invests $1.91 Million in OR Royalties Inc. $OR

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of OR Royalties Inc. (NYSE:OR) in the first quarter, Holdings Channel.com reports. The fund bought 50,233 shares of the basic materials company’s stock, valued at approximately $1,912,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in OR Royalties by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after acquiring an additional 167,970 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of OR Royalties by 1.6% in the 4th quarter. Picton Mahoney Asset Management now owns 3,160,518 shares of the basic materials company’s stock valued at $112,114,000 after purchasing an additional 50,882 shares during the period. Elliott Investment Management L.P. lifted its stake in shares of OR Royalties by 42.7% in the 4th quarter. Elliott Investment Management L.P. now owns 3,111,000 shares of the basic materials company’s stock valued at $110,098,000 after purchasing an additional 930,849 shares during the period. Norges Bank bought a new stake in shares of OR Royalties during the 4th quarter valued at about $88,597,000. Finally, Tidal Investments LLC boosted its position in shares of OR Royalties by 25.4% during the 3rd quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock valued at $94,098,000 after purchasing an additional 474,840 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Stock Down 3.1%

NYSE OR opened at $29.74 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 22.19 and a beta of 0.74. OR Royalties Inc. has a 52 week low of $27.54 and a 52 week high of $48.06. The business has a 50 day moving average price of $32.15 and a 200-day moving average price of $37.57.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The company had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. On average, equities research analysts anticipate that OR Royalties Inc. will post 1.27 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, June 30th. OR Royalties’s payout ratio is 18.66%.

Analysts Set New Price Targets

Several brokerages have issued reports on OR. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Royal Bank Of Canada lowered their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Zacks Research downgraded shares of OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings lowered shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group cut their target price on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.50.

OR Royalties Profile

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.