Pitcairn Co. Takes $50,000 Position in Orion Office REIT Inc. (NYSE:ONL)

Pitcairn Co. purchased a new position in shares of Orion Office REIT Inc. (NYSE:ONL) during the fourth quarter, Holdings Channel reports. The firm purchased 13,485 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Orion Office REIT by 1,215.5% in the fourth quarter. Allworth Financial LP now owns 7,564 shares of the company’s stock worth $30,000 after purchasing an additional 6,989 shares during the period. Abel Hall LLC bought a new position in Orion Office REIT in the 4th quarter valued at about $38,000. Franklin Resources Inc. acquired a new position in shares of Orion Office REIT in the 3rd quarter valued at approximately $40,000. Evoke Wealth LLC bought a new stake in shares of Orion Office REIT during the 4th quarter worth approximately $43,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Orion Office REIT during the 3rd quarter worth approximately $47,000. 79.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Orion Office REIT

In other news, Director Reginald Harold Gilyard acquired 40,000 shares of Orion Office REIT stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $2.35 per share, for a total transaction of $94,000.00. Following the transaction, the director now directly owns 109,647 shares of the company’s stock, valued at approximately $257,670.45. The trade was a 57.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul H. Mcdowell bought 12,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $2.48 per share, with a total value of $29,760.00. Following the completion of the transaction, the insider now directly owns 293,895 shares of the company’s stock, valued at approximately $728,859.60. The trade was a 4.26 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 61,446 shares of company stock valued at $147,092. 0.16% of the stock is currently owned by insiders.

Orion Office REIT Stock Performance

Shares of NYSE:ONL opened at $1.85 on Monday. Orion Office REIT Inc. has a 1 year low of $1.74 and a 1 year high of $4.39. The stock has a market capitalization of $103.80 million, a price-to-earnings ratio of -1.20 and a beta of 1.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $3.27 and its 200 day simple moving average is $3.70.

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

Orion Office REIT Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 4.32%. The ex-dividend date is Monday, March 31st. 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.