Orion Office REIT Inc. (NYSE:ONL) Short Interest Up 54.0% in March

Orion Office REIT Inc. (NYSE:ONL) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,420,000 shares, a growth of 54.0% from the March 15th total of 922,100 shares. Based on an average daily trading volume, of 579,400 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.6% of the shares of the company are short sold.

Insider Activity at Orion Office REIT

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

Hedge Funds Weigh In On Orion Office REIT

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of Orion Office REIT by 1,215.5% in the 4th quarter. Allworth Financial LP now owns 7,564 shares of the company’s stock valued at $30,000 after buying an additional 6,989 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Orion Office REIT in the fourth quarter valued at $32,000. Abel Hall LLC purchased a new position in shares of Orion Office REIT during the fourth quarter worth about $38,000. Franklin Resources Inc. acquired a new stake in shares of Orion Office REIT in the 3rd quarter valued at about $40,000. Finally, Evoke Wealth LLC purchased a new position in Orion Office REIT during the 4th quarter worth approximately $43,000. 79.95% of the stock is currently owned by hedge funds and other institutional investors.

Orion Office REIT Price Performance

ONL traded up $0.05 on Thursday, hitting $1.63. 631,165 shares of the company’s stock were exchanged, compared to its average volume of 431,858. The firm has a 50-day moving average price of $2.79 and a 200-day moving average price of $3.54. The stock has a market cap of $91.28 million, a price-to-earnings ratio of -1.06 and a beta of 1.33. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Orion Office REIT has a fifty-two week low of $1.46 and a fifty-two week high of $4.39.

Orion Office REIT (NYSE:ONL) last announced its earnings results on Wednesday, March 5th. The company reported $0.18 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 during the quarter.

Orion Office REIT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Monday, March 31st. Orion Office REIT’s payout ratio is -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.