Kawa Capital Management Inc Buys Shares of 2,527,038 Orion Office REIT Inc. $ONL

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 shares of 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 (SEC). The fund purchased 2,527,038 shares of the company's stock, valued at approximately $5,180,000. Orion Office REIT accounts for 11.6% of Kawa Capital Management Inc's investment portfolio, making the stock its 6th largest holding. Kawa Capital Management Inc owned 4.50% of Orion Office REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Orion Office REIT during the 4th quarter worth $32,000. Private Advisor Group LLC increased its stake in shares of Orion Office REIT by 65.3% in the first quarter. Private Advisor Group LLC now owns 19,135 shares of the company's stock valued at $41,000 after buying an additional 7,557 shares during the period. Lazard Asset Management LLC bought a new position in shares of Orion Office REIT during the fourth quarter worth about $45,000. State of Wyoming acquired a new position in shares of Orion Office REIT in the fourth quarter worth approximately $49,000. Finally, Ethic Inc. bought a new stake in Orion Office REIT in the fourth quarter valued at approximately $51,000. Institutional investors own 79.95% of the company's stock.

Insider Buying and Selling

In other Orion Office REIT news, Director Reginald Harold Gilyard purchased 55,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were acquired at an average cost of $2.91 per share, for a total transaction of $160,050.00. Following the completion of the acquisition, the director owned 227,778 shares of the company's stock, valued at $662,833.98. The trade was a 31.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

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

Orion Office REIT Stock Down 3.3%

Shares of ONL stock traded down $0.10 on Wednesday, reaching $2.78. 257,406 shares of the company were exchanged, compared to its average volume of 571,215. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.75 and a quick ratio of 0.75. The company has a 50-day moving average of $2.69 and a 200-day moving average of $2.29. The company has a market cap of $156.26 million, a price-to-earnings ratio of -2.00 and a beta of 1.44. Orion Office REIT Inc. has a one year low of $1.46 and a one year high of $4.39.

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

Orion Office REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Orion Office REIT's dividend payout ratio (DPR) is presently -5.76%.

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.