Rangeley Capital LLC bought a new position in shares of Orion Office REIT Inc. (NYSE:ONL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 915,000 shares of the company's stock, valued at approximately $1,967,000. Orion Office REIT makes up approximately 1.8% of Rangeley Capital LLC's investment portfolio, making the stock its 15th biggest position. Rangeley Capital LLC owned approximately 1.61% of Orion Office REIT at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Orion Office REIT by 1.2% during the first quarter. Renaissance Technologies LLC now owns 1,706,100 shares of the company's stock worth $3,668,000 after buying an additional 20,300 shares during the last quarter. 683 Capital Management LLC acquired a new stake in shares of Orion Office REIT during the fourth quarter worth approximately $470,000. J. Goldman & Co LP raised its stake in shares of Orion Office REIT by 141.9% in the fourth quarter. J. Goldman & Co LP now owns 2,158,925 shares of the company's stock valued at $4,879,000 after acquiring an additional 1,266,263 shares during the last quarter. Jain Global LLC bought a new position in shares of Orion Office REIT in the fourth quarter valued at approximately $49,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Orion Office REIT by 80.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 40,595 shares of the company's stock valued at $92,000 after acquiring an additional 18,134 shares during the last quarter. 79.95% of the stock is owned by institutional investors.
Orion Office REIT Stock Down 0.1%
Shares of NYSE:ONL opened at $2.60 on Monday. Orion Office REIT Inc. has a 12 month low of $1.89 and a 12 month high of $3.05. The company's 50-day moving average price is $2.83 and its two-hundred day moving average price is $2.56. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. The firm has a market cap of $147.64 million, a P/E ratio of -1.01 and a beta of 1.56.
Orion Office REIT (NYSE:ONL - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.12). Orion Office REIT had a negative net margin of 98.36% and a negative return on equity of 21.88%. The company had revenue of $36.27 million during the quarter, compared to analyst estimates of $34.41 million. Orion Office REIT has set its FY 2026 guidance at 0.690-0.76 EPS.
Orion Office REIT Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.1%. Orion Office REIT's dividend payout ratio (DPR) is currently -3.12%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on ONL shares. Weiss Ratings restated a "sell (d-)" rating on shares of Orion Office REIT in a research report on Friday, July 17th. JonesTrading lifted their price objective on Orion Office REIT from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $3.50.
View Our Latest Stock Analysis on Orion Office REIT
About Orion Office REIT
(
Free Report)
Orion Office REIT is a publicly traded real estate investment trust that acquires, owns and manages a diversified portfolio of Class A office properties across high-growth U.S. markets. The company focuses on suburban and infill locations, targeting properties with strong tenant credit profiles and long-term lease structures. Its business strategy emphasizes active asset management, capital recycling and selective development to enhance income stability and potential total return for shareholders.
Orion Office REIT debuted on the New York Stock Exchange under the ticker ONL following a spin-off from Government Properties Income Trust in June 2021, though many of its core assets trace back to acquisitions made as early as 2013.
See Also
Want to see what other hedge funds are holding ONL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orion Office REIT Inc. (NYSE:ONL - Free Report).
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