Short Interest in Orion Office REIT Inc. (NYSE:ONL) Grows By 51.0%

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

Insider Transactions at Orion Office REIT

In other news, insider Paul H. Mcdowell purchased 12,000 shares of the stock in a transaction on Monday, March 17th. The stock was bought at an average price of $2.48 per share, for a total transaction of $29,760.00. Following the acquisition, the insider now directly owns 293,895 shares of the company’s stock, valued at approximately $728,859.60. The trade was a 4.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Reginald Harold Gilyard bought 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $2.35 per share, with a total value of $94,000.00. Following the completion of the transaction, the director now owns 109,647 shares in the company, 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. Insiders have purchased a total of 61,446 shares of company stock worth $147,092 in the last quarter. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Orion Office REIT

Institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC bought a new stake in shares of Orion Office REIT in the 3rd quarter worth approximately $47,000. FMR LLC raised its stake in shares of Orion Office REIT by 23.5% during the third quarter. FMR LLC now owns 24,985 shares of the company’s stock worth $100,000 after buying an additional 4,750 shares during the last quarter. Martingale Asset Management L P lifted its stake in Orion Office REIT by 19.5% in the third quarter. Martingale Asset Management L P now owns 223,223 shares of the company’s stock valued at $893,000 after buying an additional 36,397 shares during the period. Quadrature Capital Ltd grew its holdings in Orion Office REIT by 34.8% during the third quarter. Quadrature Capital Ltd now owns 22,663 shares of the company’s stock valued at $91,000 after purchasing an additional 5,849 shares during the period. Finally, Stifel Financial Corp raised its holdings in Orion Office REIT by 36.2% in the third quarter. Stifel Financial Corp now owns 46,416 shares of the company’s stock worth $186,000 after purchasing an additional 12,326 shares during the period. Institutional investors and hedge funds own 79.95% of the company’s stock.

Orion Office REIT Trading Down 0.2 %

Orion Office REIT stock traded down $0.01 during trading on Monday, hitting $2.16. The company’s stock had a trading volume of 718,508 shares, compared to its average volume of 410,112. Orion Office REIT has a 1-year low of $2.09 and a 1-year high of $4.39. The stock’s fifty day moving average is $3.42 and its 200 day moving average is $3.77. The stock has a market capitalization of $120.91 million, a price-to-earnings ratio of -1.40 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75.

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

Orion Office REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, March 31st. Orion Office REIT’s 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.