Orion Office REIT Inc. (NYSE:ONL) Sees Large Increase in Short Interest

Key Points

• Short interest in Orion Office REIT surged to 1,990,608 shares as of June 30, up 247.6% from mid-June, with about 3.6% of the company’s shares currently sold short.
• The stock has a mixed analyst outlook: Weiss Ratings reiterated a sell rating, while JonesTrading raised its price target to $3.50 and kept a buy rating. Overall, the consensus rating remains Hold.
• Orion Office REIT reported a quarterly EPS miss of $0.24 versus estimates of $0.12 loss, though revenue came in above expectations at $36.27 million. The company also declared a $0.02 quarterly dividend, yielding about 2.9% annualized.

Orion Office REIT Inc. (NYSE:ONL - Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 1,990,608 shares, a growth of 247.6% from the June 15th total of 572,735 shares. Based on an average daily trading volume, of 1,052,080 shares, the short-interest ratio is currently 1.9 days. Approximately 3.6% of the company's shares are sold short.

Analyst Ratings Changes

ONL has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Orion Office REIT in a research report on Tuesday, April 21st. JonesTrading boosted their price objective on Orion Office REIT from $3.00 to $3.50 and gave the company a "buy" rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Orion Office REIT presently has an average rating of "Hold" and a consensus target price of $3.50.

Orion Office REIT Stock Performance

Shares of ONL stock opened at $2.75 on Monday. The firm has a 50 day moving average of $2.88 and a 200-day moving average of $2.53. The company has a market cap of $156.57 million, a price-to-earnings ratio of -1.08 and a beta of 1.56. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. Orion Office REIT has a 52 week low of $1.89 and a 52 week high of $3.05.

Orion Office REIT (NYSE:ONL - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.12). The company had revenue of $36.27 million for the quarter, compared to analyst estimates of $34.41 million. Orion Office REIT had a negative net margin of 98.36% and a negative return on equity of 21.88%. Orion Office REIT has set its FY 2026 guidance at 0.690-0.76 EPS.

Orion Office REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Orion Office REIT's dividend payout ratio is -3.12%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in Orion Office REIT in the second quarter valued at approximately $62,000. Jain Global LLC bought a new stake in shares of Orion Office REIT during the fourth quarter valued at approximately $49,000. SmartHarvest Portfolios LLC acquired a new position in shares of Orion Office REIT during the fourth quarter worth approximately $35,000. Hudson Bay Capital Management LP acquired a new position in shares of Orion Office REIT during the second quarter worth approximately $30,000. Finally, Gabelli Funds LLC bought a new position in shares of Orion Office REIT in the 2nd quarter worth $26,000. 79.95% of the stock is owned by institutional investors and hedge funds.

About Orion Office REIT

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.

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