Weiss Ratings Reaffirms "Sell (D-)" Rating for Orion Office REIT (NYSE:ONL)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Orion Office REIT (NYSE:ONL), indicating ongoing concerns about the company's financial health.
• Shares of Orion Office REIT have an average rating of "Reduce," with recent analysts split between "market perform" and "sell" ratings.
• Institutional ownership of Orion Office REIT stands at approximately 79.95%, with notable increases in stakes by several hedge funds in the recent quarter.

Orion Office REIT (NYSE:ONL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, JMP Securities restated 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 and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce".

Orion Office REIT Stock Up 1.0%

Shares of Orion Office REIT stock opened at $2.56 on Wednesday. The stock's fifty day moving average is $2.75 and its 200-day moving average is $2.29. The firm has a market capitalization of $143.87 million, a PE ratio of -1.84 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.66. Orion Office REIT has a 12-month low of $1.46 and a 12-month high of $4.32.

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

Insider Buying and Selling

In related news, Director Reginald Harold Gilyard bought 55,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of $2.91 per share, with a total value of $160,050.00. Following the acquisition, the director owned 227,778 shares in the company, valued at approximately $662,833.98. This represents a 31.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orion Office REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in shares of Orion Office REIT during the 2nd quarter worth approximately $30,000. Tower Research Capital LLC TRC grew its stake in shares of Orion Office REIT by 63.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 30,617 shares of the company's stock worth $65,000 after acquiring an additional 11,840 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Orion Office REIT during the 2nd quarter worth approximately $225,000. Bank of America Corp DE increased its position in shares of Orion Office REIT by 75.8% in the second quarter. Bank of America Corp DE now owns 64,155 shares of the company's stock valued at $137,000 after acquiring an additional 27,664 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Orion Office REIT by 872.9% in the second quarter. Jane Street Group LLC now owns 832,721 shares of the company's stock valued at $1,774,000 after acquiring an additional 747,127 shares during the last quarter. Institutional investors own 79.95% of the company's stock.

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.

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