Short Interest in Orion Office REIT Inc. (NYSE:ONL) Declines By 29.9%

Orion Office REIT Inc. (NYSE:ONL) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 469,800 shares, a decrease of 29.9% from the September 15th total of 670,600 shares. Based on an average trading volume of 301,200 shares, the short-interest ratio is currently 1.6 days. Currently, 0.9% of the shares of the stock are sold short.

Orion Office REIT Trading Up 1.6 %

NYSE ONL traded up $0.06 on Friday, reaching $3.79. 121,118 shares of the company were exchanged, compared to its average volume of 410,350. The business’s fifty day moving average price is $3.92 and its 200 day moving average price is $3.67. The stock has a market capitalization of $212.05 million, a P/E ratio of -2.30 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.56. Orion Office REIT has a fifty-two week low of $3.01 and a fifty-two week high of $6.22.

Orion Office REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.55%. The ex-dividend date of this dividend is Monday, September 30th. Orion Office REIT’s dividend payout ratio (DPR) is currently -24.24%.

Hedge Funds Weigh In On Orion Office REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Orion Office REIT by 21.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,574 shares of the company’s stock worth $62,000 after buying an additional 3,161 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Orion Office REIT by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 23,204 shares of the company’s stock valued at $83,000 after purchasing an additional 3,273 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Orion Office REIT by 41.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,476 shares of the company’s stock valued at $48,000 after purchasing an additional 3,928 shares during the period. Oak Thistle LLC raised its position in Orion Office REIT by 53.1% in the first quarter. Oak Thistle LLC now owns 18,086 shares of the company’s stock valued at $63,000 after purchasing an additional 6,272 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Orion Office REIT by 39.8% in the second quarter. Nisa Investment Advisors LLC now owns 26,281 shares of the company’s stock valued at $97,000 after purchasing an additional 7,481 shares during the period. Institutional investors and hedge funds own 79.95% of the company’s stock.

About Orion Office REIT

Orion Office REIT specializes in the ownership, acquisition and management of a diversified portfolio of mission-critical and corporate headquarters office buildings in high-quality suburban markets across the U.S. The portfolio is leased primarily on a single-tenant net lease basis to creditworthy tenants.