Charles Schwab Investment Management Inc. Cuts Position in Orion Office REIT Inc. $ONL

Charles Schwab Investment Management Inc. decreased its position in Orion Office REIT Inc. (NYSE:ONL - Free Report) by 28.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,427 shares of the company's stock after selling 173,451 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.78% of Orion Office REIT worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Management Group Inc. raised its stake in Orion Office REIT by 22.0% in the 1st quarter. Private Management Group Inc. now owns 5,200,121 shares of the company's stock worth $11,128,000 after acquiring an additional 939,129 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Orion Office REIT during the 1st quarter valued at about $1,304,000. D. E. Shaw & Co. Inc. raised its stake in shares of Orion Office REIT by 2.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 561,840 shares of the company's stock valued at $2,084,000 after buying an additional 12,538 shares during the last quarter. Northern Trust Corp raised its stake in shares of Orion Office REIT by 3.6% during the 4th quarter. Northern Trust Corp now owns 459,247 shares of the company's stock valued at $1,704,000 after buying an additional 16,117 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Orion Office REIT by 2.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 293,489 shares of the company's stock valued at $1,089,000 after buying an additional 7,605 shares during the last quarter. Hedge funds and other institutional investors own 79.95% of the company's stock.

Orion Office REIT Stock Performance

Shares of NYSE ONL traded up $0.06 during trading on Friday, reaching $3.01. 245,415 shares of the company traded hands, compared to its average volume of 323,041. The firm's fifty day simple moving average is $2.61 and its 200 day simple moving average is $2.33. The stock has a market cap of $169.21 million, a P/E ratio of -2.16 and a beta of 1.44. Orion Office REIT Inc. has a 12-month low of $1.46 and a 12-month high of $4.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.66.

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

Orion Office REIT Dividend Announcement

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 paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 30th. Orion Office REIT's payout ratio is currently -5.76%.

Insider Buying and Selling at Orion Office REIT

In other Orion Office REIT news, Director Reginald Harold Gilyard purchased 55,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of $2.91 per share, for a total transaction of $160,050.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Orion Office REIT Company 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.