Orion Office REIT (NYSE:ONL) Shares Down 1.2% - Here's What Happened

Key Points

• Orion Office REIT shares fell 1.2% to approximately $2.135, with trading volume 71% above the average session level.
• Analyst sentiment remains mixed: one analyst rates the stock Buy and another Sell, resulting in a consensus Hold rating and a $3.50 price target. Weiss Ratings reiterated its “sell (D-)” rating.
• The company reported quarterly EPS of $0.42, exceeding the consensus estimate of a $0.07 loss, while revenue reached $34.30 million. Orion also declared a $0.02 quarterly dividend, equivalent to a 3.7% annualized yield.

Orion Office REIT Inc. (NYSE:ONL - Get Free Report) was down 1.2% during mid-day trading on Thursday. The stock traded as low as $2.10 and last traded at $2.1350. 625,296 shares were traded during mid-day trading, an increase of 71% from the average session volume of 365,672 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Orion Office REIT in a report on Thursday, October 15th. 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 currently has a consensus rating of "Hold" and a consensus price target of $3.50.

Orion Office REIT Trading Down 1.2%

The company has a market cap of $121.33 million, a price-to-earnings ratio of -1.26 and a beta of 1.59. The firm has a 50 day moving average price of $2.51 and a two-hundred day moving average price of $2.66. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.68.

Orion Office REIT (NYSE:ONL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.49. The company had revenue of $34.30 million during the quarter, compared to the consensus estimate of $34.16 million. Orion Office REIT had a negative return on equity of 14.85% and a negative net margin of 65.66%. Orion Office REIT has set its FY 2026 guidance at 0.720-0.770 EPS.

Orion Office REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.02 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.08 annualized dividend and a yield of 3.7%. Orion Office REIT's dividend payout ratio (DPR) is presently -4.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ONL. Sax Wealth Advisors LLC bought a new stake in shares of Orion Office REIT in the 3rd quarter valued at $29,000. Renaissance Technologies LLC raised 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. Dupree Financial Group LLC bought a new position in Orion Office REIT during the third quarter worth $51,000. AXQ Capital LP acquired a new position in Orion Office REIT in the second quarter valued at $121,000. Finally, State Street Corp lifted its holdings in Orion Office REIT by 141.2% in the second quarter. State Street Corp now owns 573,274 shares of the company's stock valued at $1,668,000 after buying an additional 335,600 shares during the period. Institutional investors and hedge funds own 79.95% of the company's stock.

Orion Office REIT Company Profile

Orion Office REIT Inc is a real estate investment trust focused on owning, acquiring, leasing and managing office properties in the United States. Its portfolio is primarily composed of suburban office buildings leased to corporate and government tenants under long-term agreements.

The company's activities include property operations, tenant leasing, asset management and strategic investment in office real estate. Orion serves markets across multiple U.S. states, with a focus on properties that support a geographically diversified portfolio of office assets.

Orion Office REIT was formed in 2021 as an independent publicly traded company following the combination of Realty Income Corporation and VEREIT, Inc Its portfolio originated largely from VEREIT's office properties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.