Orion Office REIT Inc. (NYSE:ONL) Stock Position Lifted 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. raised its holdings in shares of Orion Office REIT Inc. (NYSE:ONL - Free Report) by 22.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,200,121 shares of the company's stock after buying an additional 939,129 shares during the period. Private Management Group Inc. owned about 9.26% of Orion Office REIT worth $11,128,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ONL. Raymond James Financial Inc. purchased a new position in shares of Orion Office REIT in the 4th quarter valued at $1,109,000. JPMorgan Chase & Co. raised its position in Orion Office REIT by 44.0% in the fourth quarter. JPMorgan Chase & Co. now owns 373,925 shares of the company's stock valued at $1,387,000 after purchasing an additional 114,171 shares during the period. Norges Bank acquired a new position in shares of Orion Office REIT during the fourth quarter worth about $280,000. Geode Capital Management LLC lifted its stake in shares of Orion Office REIT by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 1,563,825 shares of the company's stock worth $5,803,000 after purchasing an additional 51,682 shares in the last quarter. Finally, Pitcairn Co. purchased a new stake in shares of Orion Office REIT in the fourth quarter worth about $50,000. 79.95% of the stock is currently owned by hedge funds and other institutional investors.

Orion Office REIT Stock Down 4.2%

Shares of NYSE ONL traded down $0.12 during trading on Monday, reaching $2.62. 311,812 shares of the stock were exchanged, compared to its average volume of 635,042. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.67. The business's 50-day moving average price is $2.17 and its 200 day moving average price is $2.60. The company has a market capitalization of $146.94 million, a price-to-earnings ratio of -1.70 and a beta of 1.39. Orion Office REIT Inc. has a twelve month low of $1.46 and a twelve month high of $4.39.

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

Orion Office REIT Announces Dividend

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

Analysts Set New Price Targets

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

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.