Vanguard Group Inc. Cuts Stake in Orion Office REIT Inc. (NYSE:ONL)

Vanguard Group Inc. reduced its stake in shares of Orion Office REIT Inc. (NYSE:ONL) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,708,042 shares of the company’s stock after selling 685,365 shares during the period. Vanguard Group Inc. owned 10.23% of Orion Office REIT worth $29,739,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State of Wyoming purchased a new position in Orion Office REIT in the second quarter valued at approximately $30,000. Covestor Ltd grew its position in Orion Office REIT by 2,607.3% in the first quarter. Covestor Ltd now owns 2,599 shares of the company’s stock valued at $36,000 after acquiring an additional 2,503 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Orion Office REIT in the third quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in Orion Office REIT in the third quarter valued at approximately $54,000. Finally, Spire Wealth Management grew its position in shares of Orion Office REIT by 82.5% during the third quarter. Spire Wealth Management now owns 10,295 shares of the company’s stock worth $54,000 after buying an additional 4,655 shares in the last quarter. 79.95% of the stock is currently owned by hedge funds and other institutional investors.

Orion Office REIT Stock Up 2.2 %

ONL stock opened at $3.23 on Friday. Orion Office REIT Inc. has a twelve month low of $3.12 and a twelve month high of $7.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $180.36 million, a P/E ratio of -3.17 and a beta of 0.86. The firm has a 50 day simple moving average of $3.88 and a 200-day simple moving average of $4.78.

Orion Office REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date of this dividend is Wednesday, March 27th. Orion Office REIT’s dividend payout ratio is presently -39.22%.

Orion Office REIT Profile

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.