Pitcairn Co. Invests $50,000 in Orion Office REIT Inc. (NYSE:ONL)

Pitcairn Co. bought a new stake in Orion Office REIT Inc. (NYSE:ONL) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,485 shares of the company’s stock, valued at approximately $50,000.

Several other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Orion Office REIT in the third quarter valued at approximately $47,000. FMR LLC grew its position in Orion Office REIT by 23.5% in the third quarter. FMR LLC now owns 24,985 shares of the company’s stock valued at $100,000 after purchasing an additional 4,750 shares in the last quarter. Quadrature Capital Ltd increased its stake in Orion Office REIT by 34.8% in the 3rd quarter. Quadrature Capital Ltd now owns 22,663 shares of the company’s stock valued at $91,000 after buying an additional 5,849 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Orion Office REIT by 36.2% during the 3rd 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. Finally, Jane Street Group LLC increased its position in shares of 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. Institutional investors own 79.95% of the company’s stock.

Insider Activity

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

Orion Office REIT Stock Performance

ONL opened at $1.85 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.70. The firm has a market capitalization of $103.80 million, a PE ratio of -1.20 and a beta of 1.33. Orion Office REIT Inc. has a 52-week low of $1.74 and a 52-week high of $4.39.

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

Orion Office REIT Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.02 per share. The ex-dividend date is Monday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 4.32%. Orion Office REIT’s dividend payout ratio is presently -4.35%.

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.