State of Alaska Department of Revenue raised its holdings in Orion Office REIT Inc. (NYSE:ONL – Get Rating) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,882 shares of the company's stock after buying an additional 3,212 shares during the period. State of Alaska Department of Revenue owned about 0.53% of Orion Office REIT worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Orion Office REIT in the second quarter valued at $25,000. Spirit of America Management Corp NY bought a new position in shares of Orion Office REIT during the second quarter valued at about $31,000. Covestor Ltd lifted its position in shares of Orion Office REIT by 2,607.3% during the first quarter. Covestor Ltd now owns 2,599 shares of the company's stock valued at $36,000 after purchasing an additional 2,503 shares in the last quarter. KBC Group NV lifted its position in shares of Orion Office REIT by 2,734.1% during the second quarter. KBC Group NV now owns 4,988 shares of the company's stock valued at $55,000 after purchasing an additional 4,812 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Orion Office REIT during the second quarter valued at about $56,000. 84.26% of the stock is owned by institutional investors.
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Orion Office REIT Stock Performance
NYSE ONL opened at $8.54 on Tuesday. Orion Office REIT Inc. has a 52-week low of $8.28 and a 52-week high of $18.94. The company has a 50-day simple moving average of $9.15 and a 200 day simple moving average of $9.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $483.66 million, a PE ratio of -3.63 and a beta of 0.67.
Orion Office REIT Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.40 dividend on an annualized basis and a yield of 4.68%. Orion Office REIT's dividend payout ratio (DPR) is presently -17.02%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on ONL shares. EF Hutton Acquisition Co. I dropped their price target on shares of Orion Office REIT from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, December 5th. JMP Securities started coverage on shares of Orion Office REIT in a research report on Wednesday, October 19th. They set a "market perform" rating on the stock.
About Orion Office REIT
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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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