Orion Office REIT Inc. (NYSE:ONL) Sees Large Decline in Short Interest

Orion Office REIT Inc. (NYSE:ONL) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 483,600 shares, a decline of 19.5% from the December 31st total of 601,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 314,000 shares, the days-to-cover ratio is currently 1.5 days.

Orion Office REIT Stock Down 0.1 %

NYSE:ONL traded down $0.01 during trading hours on Friday, reaching $4.06. 366,559 shares of the company traded hands, compared to its average volume of 289,742. The business’s 50-day moving average price is $3.94 and its two-hundred day moving average price is $3.95. The stock has a market capitalization of $226.88 million, a P/E ratio of -2.63 and a beta of 1.07. Orion Office REIT has a 1 year low of $3.01 and a 1 year high of $5.32. 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 (NYSE:ONL) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $39.18 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.86%. The ex-dividend date was Tuesday, December 31st. Orion Office REIT’s dividend payout ratio is currently -25.97%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bfsg LLC raised its stake in shares of Orion Office REIT by 8.4% in the third quarter. Bfsg LLC now owns 31,180 shares of the company’s stock worth $125,000 after purchasing an additional 2,420 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orion Office REIT by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 23,204 shares of the company’s stock worth $83,000 after acquiring an additional 3,273 shares during the period. SG Americas Securities LLC grew its holdings in shares of Orion Office REIT by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 24,052 shares of the company’s stock worth $89,000 after acquiring an additional 3,752 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Orion Office REIT by 41.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,476 shares of the company’s stock worth $48,000 after acquiring an additional 3,928 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Orion Office REIT by 6.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 66,000 shares of the company’s stock worth $264,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 79.95% of the company’s stock.

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.