Orion Office REIT Inc. (NYSE:ONL) Short Interest Up 51.0% in March

Orion Office REIT Inc. (NYSE:ONL) was the target of a significant increase in short interest in 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 company’s stock are short sold. Based on an average trading volume of 529,700 shares, the short-interest ratio is presently 1.7 days.

Insiders Place Their Bets

In related news, insider Paul H. Mcdowell bought 12,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $2.48 per share, with a total value of $29,760.00. Following the purchase, the insider now directly owns 293,895 shares of the company’s stock, valued at $728,859.60. This trade represents a 4.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Reginald Harold Gilyard purchased 40,000 shares of Orion Office REIT stock in a transaction on 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 transaction, the director now directly owns 109,647 shares in the company, valued at $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 acquired a total of 61,446 shares of company stock worth $147,092 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Orion Office REIT during the 4th quarter worth $1,109,000. Mariner LLC grew its holdings in shares of Orion Office REIT by 127.3% during the fourth quarter. Mariner LLC now owns 264,614 shares of the company’s stock worth $982,000 after purchasing an additional 148,223 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Orion Office REIT by 44.0% during the fourth quarter. JPMorgan Chase & Co. now owns 373,925 shares of the company’s stock worth $1,387,000 after purchasing an additional 114,171 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Orion Office REIT by 123.8% during the fourth quarter. Two Sigma Investments LP now owns 157,225 shares of the company’s stock worth $583,000 after purchasing an additional 86,979 shares in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Orion Office REIT in the 3rd quarter valued at about $339,000. Institutional investors and hedge funds own 79.95% of the company’s stock.

Orion Office REIT Stock Down 2.5 %

NYSE ONL traded down $0.06 on Friday, hitting $2.17. 486,119 shares of the stock were exchanged, compared to its average volume of 408,878. Orion Office REIT has a fifty-two week low of $2.10 and a fifty-two week high of $4.39. The company has a 50-day moving average price of $3.46 and a 200-day moving average price of $3.78. The company has a market cap of $121.48 million, a PE ratio of -1.41 and a beta of 1.07. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

Orion Office REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 3.70%. Orion Office REIT’s dividend payout ratio is presently -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.