Renaissance Technologies LLC Sells 133,354 Shares of Orion Office REIT Inc. (NYSE:ONL)

Renaissance Technologies LLC trimmed its stake in Orion Office REIT Inc. (NYSE:ONL) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,718,300 shares of the company’s stock after selling 133,354 shares during the period. Renaissance Technologies LLC’s holdings in Orion Office REIT were worth $6,375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Orion Office REIT by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 259,754 shares of the company’s stock valued at $1,039,000 after buying an additional 106,383 shares during the last quarter. Stifel Financial Corp lifted its position in Orion Office REIT by 36.2% during the third quarter. Stifel Financial Corp now owns 46,416 shares of the company’s stock valued at $186,000 after acquiring an additional 12,326 shares during the last quarter. Barclays PLC boosted its stake in Orion Office REIT by 252.1% in the third quarter. Barclays PLC now owns 73,730 shares of the company’s stock valued at $295,000 after acquiring an additional 52,788 shares in the last quarter. Jane Street Group LLC grew its holdings in Orion Office REIT by 23.9% in the third quarter. Jane Street Group LLC now owns 117,934 shares of the company’s stock worth $472,000 after purchasing an additional 22,759 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Orion Office REIT by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,512,143 shares of the company’s stock worth $6,050,000 after purchasing an additional 7,733 shares during the last quarter. 79.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reginald Harold Gilyard acquired 40,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $2.35 per share, with a total value of $94,000.00. Following the completion of the acquisition, the director now owns 109,647 shares of the company’s stock, valued at approximately $257,670.45. This trade represents a 57.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul H. Mcdowell bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average cost of $2.48 per share, with a total value of $29,760.00. Following the acquisition, the insider now directly owns 293,895 shares of the company’s stock, valued at approximately $728,859.60. This trade represents a 4.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 61,446 shares of company stock valued at $147,092. Insiders own 0.16% of the company’s stock.

Orion Office REIT Stock Performance

Shares of ONL opened at $1.63 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $91.28 million, a PE ratio of -1.06 and a beta of 1.33. Orion Office REIT Inc. has a 12 month low of $1.46 and a 12 month high of $4.39. The stock has a fifty day moving average price of $2.69 and a 200-day moving average price of $3.51.

Orion Office REIT (NYSE:ONL) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.18 earnings per share for the quarter. The business had revenue of $38.36 million during the quarter. Orion Office REIT had a negative return on equity of 10.28% and a negative net margin of 50.76%.

Orion Office REIT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.08 dividend on an annualized basis and a yield of 4.92%. Orion Office REIT’s payout ratio is -4.35%.

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.