Orion Office REIT Inc. (NYSE:ONL) Sees Significant Growth in Short Interest

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. Based on an average trading volume of 529,700 shares, the short-interest ratio is currently 1.7 days. Approximately 1.7% of the company’s stock are short sold.

Orion Office REIT Trading Down 0.2 %

Orion Office REIT stock traded down $0.01 during trading hours on Monday, reaching $2.16. The stock had a trading volume of 718,508 shares, compared to its average volume of 410,112. The stock has a market cap of $120.91 million, a PE ratio of -1.40 and a beta of 1.07. The company has a fifty day simple moving average of $3.42 and a 200-day simple moving average of $3.77. Orion Office REIT has a 52 week low of $2.09 and a 52 week high of $4.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, March 31st. Orion Office REIT’s dividend payout ratio is -4.35%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Orion Office REIT

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in Orion Office REIT by 1,215.5% during the fourth quarter. Allworth Financial LP now owns 7,564 shares of the company’s stock valued at $30,000 after purchasing an additional 6,989 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Orion Office REIT in the fourth quarter worth about $32,000. Abel Hall LLC bought a new position in Orion Office REIT in the fourth quarter worth approximately $38,000. Franklin Resources Inc. purchased a new stake in shares of Orion Office REIT during the third quarter valued at about $40,000. Finally, Evoke Wealth LLC acquired a new stake in shares of Orion Office REIT in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 79.95% of the company’s stock.

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.