Kawa Capital Management Inc Has $6.30 Million Stock Position in Orion Office REIT Inc. $ONL

Key Points

• Kawa Capital Management Inc increased its stake in Orion Office REIT Inc. by 17.1%, owning a total of 2,958,934 shares after acquiring an additional 431,896 shares in the second quarter.
• Director Reginald Harold Gilyard purchased 55,000 shares at an average price of $2.91 per share, increasing his holdings by 31.83%.
• Orion Office REIT announced a quarterly dividend of $0.02 per share, with an annualized yield of 2.9% and a negative payout ratio of -5.76%.

Kawa Capital Management Inc grew its stake in shares of Orion Office REIT Inc. (NYSE:ONL - Free Report) by 17.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,958,934 shares of the company's stock after purchasing an additional 431,896 shares during the quarter. Orion Office REIT accounts for 12.7% of Kawa Capital Management Inc's investment portfolio, making the stock its 5th biggest position. Kawa Capital Management Inc owned 5.27% of Orion Office REIT worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jane Street Group LLC grew its holdings in Orion Office REIT by 112.6% in the 1st quarter. Jane Street Group LLC now owns 85,594 shares of the company's stock worth $183,000 after buying an additional 45,341 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Orion Office REIT by 7.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 314,679 shares of the company's stock valued at $673,000 after purchasing an additional 21,190 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Orion Office REIT in the first quarter worth $189,000. Nuveen LLC acquired a new position in Orion Office REIT during the first quarter worth $357,000. Finally, GSA Capital Partners LLP increased its position in Orion Office REIT by 45.7% during the first quarter. GSA Capital Partners LLP now owns 288,384 shares of the company's stock worth $617,000 after buying an additional 90,405 shares during the last quarter. Institutional investors and hedge funds own 79.95% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

Orion Office REIT Price Performance

Shares of NYSE ONL traded down $0.06 during mid-day trading on Friday, hitting $2.73. 259,703 shares of the stock were exchanged, compared to its average volume of 256,273. The company has a market cap of $153.73 million, a P/E ratio of -1.96 and a beta of 1.44. The stock's fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $2.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 0.75. Orion Office REIT Inc. has a twelve month low of $1.46 and a twelve month high of $4.32.

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

Orion Office REIT Announces Dividend

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

Orion Office REIT 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.