State Board of Administration of Florida Retirement System Trims Holdings in Orion Office REIT Inc. (NYSE:ONL)

State Board of Administration of Florida Retirement System cut its position in shares of Orion Office REIT Inc. (NYSE:ONLGet Rating) by 66.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,476 shares of the company’s stock after selling 37,190 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Orion Office REIT were worth $202,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank bought a new position in Orion Office REIT during the first quarter worth $29,000. Russell Investments Group Ltd. bought a new position in Orion Office REIT during the second quarter worth $25,000. Covestor Ltd lifted its stake in Orion Office REIT by 2,607.3% during the first quarter. Covestor Ltd now owns 2,599 shares of the company’s stock worth $36,000 after purchasing an additional 2,503 shares during the last quarter. Spirit of America Management Corp NY bought a new position in Orion Office REIT during the second quarter worth $31,000. Finally, Pinebridge Investments L.P. lifted its stake in Orion Office REIT by 130.4% during the first quarter. Pinebridge Investments L.P. now owns 4,016 shares of the company’s stock worth $56,000 after purchasing an additional 2,273 shares during the last quarter. 87.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities initiated coverage on Orion Office REIT in a research note on Wednesday, October 19th. They set a “market perform” rating on the stock. EF Hutton Acquisition Co. I cut their target price on Orion Office REIT from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 4th.

Orion Office REIT Stock Performance

ONL stock opened at $9.39 on Tuesday. 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 stock has a market capitalization of $531.80 million and a price-to-earnings ratio of -4.00. Orion Office REIT Inc. has a 1 year low of $8.42 and a 1 year high of $19.27. The stock’s fifty day moving average is $9.26 and its two-hundred day moving average is $10.61.

Orion Office REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, December 29th. Orion Office REIT’s payout ratio is -17.02%.

Orion Office REIT Profile

(Get Rating)

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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Institutional Ownership by Quarter for Orion Office REIT (NYSE:ONL)

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