2,527,038 Shares in Orion Office REIT Inc. $ONL Purchased by Kawa Capital Management Inc

Key Points

• Kawa Capital Management Inc acquired 2,527,038 shares of Orion Office REIT Inc. (NYSE:ONL), valued at approximately $5.18 million, making it the 6th largest holding in their portfolio.
• Director Reginald Harold Gilyard increased his ownership by 31.83% after purchasing 55,000 shares at an average price of $2.91 each, amounting to a total value of $160,050.
• Orion Office REIT recently declared a quarterly dividend of $0.02 per share, with a dividend yield of 2.7%, despite having a negative dividend payout ratio of -5.76%.

Kawa Capital Management Inc purchased a new position in Orion Office REIT Inc. (NYSE:ONL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,527,038 shares of the company's stock, valued at approximately $5,180,000. Orion Office REIT makes up 11.6% of Kawa Capital Management Inc's investment portfolio, making the stock its 6th largest holding. Kawa Capital Management Inc owned approximately 4.50% of Orion Office REIT at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Orion Office REIT by 18.3% in the 4th quarter. Bank of America Corp DE now owns 55,706 shares of the company's stock worth $207,000 after purchasing an additional 8,614 shares in the last quarter. Nuveen LLC purchased a new position in Orion Office REIT in the 1st quarter worth about $357,000. ProShare Advisors LLC raised its position in Orion Office REIT by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 15,813 shares of the company's stock worth $59,000 after buying an additional 5,204 shares during the last quarter. Private Management Group Inc. raised its position in Orion Office REIT by 22.0% in the 1st quarter. Private Management Group Inc. now owns 5,200,121 shares of the company's stock worth $11,128,000 after buying an additional 939,129 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Orion Office REIT in the 1st quarter worth about $1,304,000. Institutional investors own 79.95% of the company's stock.

Insider Activity at Orion Office REIT

In other Orion Office REIT news, Director Reginald Harold Gilyard purchased 55,000 shares of Orion Office REIT stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of $2.91 per share, with a total value of $160,050.00. Following the transaction, the director directly owned 227,778 shares of the company's stock, valued at $662,833.98. This trade represents a 31.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, JMP Securities reissued a "market perform" rating on shares of Orion Office REIT in a research report on Monday, June 23rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Orion Office REIT presently has a consensus rating of "Hold".

Orion Office REIT Price Performance

Shares of NYSE:ONL opened at $2.95 on Friday. Orion Office REIT Inc. has a fifty-two week low of $1.46 and a fifty-two week high of $4.39. The business has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $2.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $166.11 million, a price-to-earnings ratio of -2.12 and a beta of 1.44.

Orion Office REIT (NYSE:ONL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.20 earnings per share for the quarter. Orion Office REIT had a negative return on equity of 10.15% and a negative net margin of 50.67%.The business had revenue of $37.31 million during the quarter.

Orion Office REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.08 annualized dividend and a dividend yield of 2.7%. Orion Office REIT's dividend payout ratio is presently -5.76%.

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.

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