Nuveen LLC Acquires New Stake in Orion Office REIT Inc. $ONL

Key Points

• Nuveen LLC has invested approximately $357,000 in Orion Office REIT Inc. ($ONL), acquiring 167,051 shares and holding about 0.30% of the company's stock as of the latest filing.
• Other institutional investors, including GSA Capital Partners and Private Management Group, have also significantly increased their positions in Orion Office REIT during the first quarter, indicating strong institutional support.
• The company declared a quarterly dividend of $0.02 per share, with the ex-dividend date set for September 30th, representing a 2.7% yield based on an annualized dividend payout.

Nuveen LLC bought a new position in Orion Office REIT Inc. (NYSE:ONL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 167,051 shares of the company's stock, valued at approximately $357,000. Nuveen LLC owned about 0.30% of Orion Office REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ONL. Private Management Group Inc. raised its stake in shares of Orion Office REIT by 22.0% in the first 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 period. Segall Bryant & Hamill LLC bought a new stake in Orion Office REIT during the 1st quarter valued at approximately $1,304,000. GSA Capital Partners LLP grew its holdings in Orion Office REIT by 45.7% during the 1st quarter. GSA Capital Partners LLP now owns 288,384 shares of the company's stock valued at $617,000 after buying an additional 90,405 shares in the last quarter. Two Sigma Investments LP grew its holdings in Orion Office REIT by 123.8% during the 4th quarter. Two Sigma Investments LP now owns 157,225 shares of the company's stock valued at $583,000 after buying an additional 86,979 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Orion Office REIT by 104.1% during the 4th quarter. Two Sigma Advisers LP now owns 100,000 shares of the company's stock valued at $371,000 after buying an additional 51,000 shares in the last quarter. 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 acquired 55,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was bought at an average price of $2.91 per share, for a total transaction of $160,050.00. Following the acquisition, the director directly owned 227,778 shares in the company, valued at $662,833.98. The trade was a 31.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

Orion Office REIT Trading Up 0.7%

Shares of Orion Office REIT stock traded up $0.02 on Thursday, reaching $2.95. The company had a trading volume of 298,548 shares, compared to its average volume of 304,673. The firm has a market cap of $166.11 million, a price-to-earnings ratio of -2.12 and a beta of 1.44. 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 firm's 50-day moving average price is $2.66 and its two-hundred day moving average price is $2.33. Orion Office REIT Inc. has a 1 year low of $1.46 and a 1 year high of $4.39.

Orion Office REIT (NYSE:ONL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.20 EPS for the quarter. The firm had revenue of $37.31 million during 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.7%. Orion Office REIT's payout ratio is -5.76%.

Analyst Ratings Changes

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

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.