Orion Office REIT Inc. (NYSE:ONL) Short Interest Down 19.5% in January

Orion Office REIT Inc. (NYSE:ONL) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 483,600 shares, a drop of 19.5% from the December 31st total of 601,000 shares. Based on an average trading volume of 314,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the shares of the company are sold short.

Orion Office REIT Stock Performance

NYSE ONL traded down $0.01 during midday trading on Friday, hitting $4.06. The company had a trading volume of 366,559 shares, compared to its average volume of 289,742. Orion Office REIT has a fifty-two week low of $3.01 and a fifty-two week high of $5.32. The stock has a market cap of $226.88 million, a price-to-earnings ratio of -2.63 and a beta of 1.07. The firm has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $3.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Orion Office REIT (NYSE:ONL) last posted its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $39.18 million during the quarter. Orion Office REIT had a negative net margin of 50.76% and a negative return on equity of 10.28%.

Orion Office REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 9.86%. Orion Office REIT’s dividend payout ratio (DPR) is -25.97%.

Hedge Funds Weigh In On Orion Office REIT

Several hedge funds have recently added to or reduced their stakes in ONL. Allworth Financial LP boosted its stake in Orion Office REIT by 1,215.5% during the 4th quarter. Allworth Financial LP now owns 7,564 shares of the company’s stock worth $30,000 after acquiring an additional 6,989 shares during the last quarter. Abel Hall LLC bought a new position in Orion Office REIT in the fourth quarter valued at approximately $38,000. Franklin Resources Inc. acquired a new position in Orion Office REIT in the 3rd quarter worth $40,000. Intech Investment Management LLC acquired a new stake in shares of Orion Office REIT in the 3rd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Orion Office REIT by 41.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,476 shares of the company’s stock valued at $48,000 after purchasing an additional 3,928 shares in 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.