Orion Office REIT Inc. (NYSE:ONL) Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Orion Office REIT Inc. (NYSE:ONL) by 25.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,389 shares of the company’s stock after acquiring an additional 59,480 shares during the period. Bank of New York Mellon Corp owned about 0.53% of Orion Office REIT worth $1,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Virginia Wealth Management Group Inc. bought a new stake in Orion Office REIT in the second quarter valued at about $36,000. Dupree Financial Group LLC bought a new stake in shares of Orion Office REIT in the 2nd quarter valued at approximately $54,000. HB Wealth Management LLC acquired a new stake in shares of Orion Office REIT during the 1st quarter valued at approximately $56,000. RPO LLC bought a new position in Orion Office REIT during the fourth quarter worth $60,000. Finally, CWM LLC boosted its holdings in Orion Office REIT by 284.7% in the second quarter. CWM LLC now owns 17,032 shares of the company’s stock worth $61,000 after purchasing an additional 12,605 shares during the period. Institutional investors own 79.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Orion Office REIT in a report on Tuesday, June 11th.

Orion Office REIT Trading Down 4.4 %

ONL opened at $4.08 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $3.98 and its 200 day moving average price is $3.62. Orion Office REIT Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $6.22.

Orion Office REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.80%. The ex-dividend date is Monday, September 30th. Orion Office REIT’s payout ratio is -30.08%.

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.