Orion Office REIT Inc. (NYSE:ONL) Shares Purchased by Private Management Group Inc.

Key Points

• Private Management Group Inc. increased its stake in Orion Office REIT by 22%, owning approximately 9.26% of the company, worth about $11.13 million.
• Orion Office REIT reported a quarterly earnings of $0.19 EPS with a revenue of $38 million and a negative net margin of 55.34%.
• The company recently announced a $0.02 dividend, offering a dividend yield of 3.96% to shareholders of record.

Private Management Group Inc. lifted its position in Orion Office REIT Inc. (NYSE:ONL - Free Report) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,200,121 shares of the company's stock after buying an additional 939,129 shares during the quarter. Private Management Group Inc. owned approximately 9.26% of Orion Office REIT worth $11,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Orion Office REIT during the 4th quarter worth $32,000. Private Advisor Group LLC grew its stake in Orion Office REIT by 65.3% during the 1st quarter. Private Advisor Group LLC now owns 19,135 shares of the company's stock worth $41,000 after purchasing an additional 7,557 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Orion Office REIT during the 4th quarter worth $45,000. State of Wyoming acquired a new position in Orion Office REIT during the 4th quarter worth $49,000. Finally, Pitcairn Co. acquired a new position in Orion Office REIT during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 79.95% of the company's stock.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Orion Office REIT in a research report on Monday, June 23rd.

Orion Office REIT Stock Down 0.6%

Shares of NYSE:ONL traded down $0.02 on Tuesday, hitting $2.60. 113,597 shares of the company's stock were exchanged, compared to its average volume of 632,005. The company has a market capitalization of $145.82 million, a PE ratio of -1.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.86 and a current ratio of 0.86. Orion Office REIT Inc. has a 1-year low of $1.46 and a 1-year high of $4.39. The firm's 50-day moving average is $2.18 and its 200 day moving average is $2.60.

Orion Office REIT (NYSE:ONL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $38.00 million during the quarter. Orion Office REIT had a negative return on equity of 10.97% and a negative net margin of 55.34%.

Orion Office REIT Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 3.96%. Orion Office REIT's dividend payout ratio (DPR) is presently -5.19%.

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.