Orion Office REIT Inc. (NYSE:ONL) Short Interest Update

Orion Office REIT Inc. (NYSE:ONL) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 922,100 shares, an increase of 51.0% from the February 28th total of 610,700 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 529,700 shares, the days-to-cover ratio is currently 1.7 days.

Insider Activity at Orion Office REIT

In related news, insider Paul H. Mcdowell acquired 12,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $2.48 per share, with a total value of $29,760.00. Following the completion of the acquisition, the insider now owns 293,895 shares in the company, valued at $728,859.60. The trade was a 4.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reginald Harold Gilyard purchased 40,000 shares of Orion Office REIT stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $2.35 per share, for a total transaction of $94,000.00. Following the completion of the transaction, the director now owns 109,647 shares of the company’s stock, valued at approximately $257,670.45. This represents a 57.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 61,446 shares of company stock valued at $147,092 over the last quarter. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orion Office REIT

Several large investors have recently made changes to their positions in ONL. JPMorgan Chase & Co. raised its holdings in Orion Office REIT by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,754 shares of the company’s stock worth $1,039,000 after purchasing an additional 106,383 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Orion Office REIT by 36.2% during the third quarter. Stifel Financial Corp now owns 46,416 shares of the company’s stock worth $186,000 after buying an additional 12,326 shares during the last quarter. Barclays PLC lifted its holdings in Orion Office REIT by 252.1% in the third quarter. Barclays PLC now owns 73,730 shares of the company’s stock valued at $295,000 after buying an additional 52,788 shares during the period. Jane Street Group LLC boosted its stake in Orion Office REIT by 23.9% in the third quarter. Jane Street Group LLC now owns 117,934 shares of the company’s stock valued at $472,000 after acquiring an additional 22,759 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Orion Office REIT by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,512,143 shares of the company’s stock worth $6,050,000 after acquiring an additional 7,733 shares during the period. Institutional investors and hedge funds own 79.95% of the company’s stock.

Orion Office REIT Price Performance

NYSE ONL traded down $0.03 on Tuesday, hitting $2.12. 196,231 shares of the company were exchanged, compared to its average volume of 537,136. Orion Office REIT has a 1-year low of $2.08 and a 1-year high of $4.39. The firm has a 50 day moving average of $3.42 and a two-hundred day moving average of $3.77. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $118.67 million, a P/E ratio of -1.37 and a beta of 1.07.

Orion Office REIT (NYSE:ONL) last announced its earnings results on Wednesday, March 5th. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $38.36 million for the quarter. Orion Office REIT had a negative net margin of 50.76% and a negative return on equity of 10.28%.

Orion Office REIT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.02 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 3.78%. Orion Office REIT’s dividend payout ratio (DPR) is currently -4.35%.

Orion Office REIT Company Profile

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.