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

Orion Office REIT Inc. (NYSE:ONL - Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 922,100 shares, a growth of 51.0% from the February 28th total of 610,700 shares. Approximately 1.7% of the company's shares are short sold. Based on an average daily volume of 529,700 shares, the short-interest ratio is currently 1.7 days.

Insider Activity

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 stock was acquired at an average cost of $2.48 per share, with a total value of $29,760.00. Following the completion of the purchase, the insider now directly owns 293,895 shares of the company's stock, valued at approximately $728,859.60. This trade represents a 4.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reginald Harold Gilyard purchased 40,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were acquired 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 owns 109,647 shares of the company's stock, 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. In the last 90 days, insiders acquired 61,446 shares of company stock valued at $147,092. Corporate insiders own 0.16% of the company's stock.

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Institutional Inflows and Outflows

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

Orion Office REIT Trading Down 5.4 %

ONL stock traded down $0.11 during midday trading on Thursday, hitting $1.94. The company had a trading volume of 204,184 shares, compared to its average volume of 539,145. The stock's 50 day moving average price is $3.35 and its 200 day moving average price is $3.74. Orion Office REIT has a 52 week low of $1.92 and a 52 week high of $4.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market cap of $108.85 million, a price-to-earnings ratio of -1.26 and a beta of 1.07.

Orion Office REIT (NYSE:ONL - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $38.36 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Monday, March 31st. Orion Office REIT's dividend payout ratio (DPR) is currently -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.