Principal Financial Group Inc. Has $2.29 Million Stock Position in Orion Office REIT Inc. (NYSE:ONL)

Principal Financial Group Inc. reduced its holdings in shares of Orion Office REIT Inc. (NYSE:ONL) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 341,936 shares of the company’s stock after selling 3,947 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of Orion Office REIT worth $2,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Orion Office REIT by 2,607.3% during the 1st quarter. Covestor Ltd now owns 2,599 shares of the company’s stock worth $36,000 after acquiring an additional 2,503 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Orion Office REIT during the 1st quarter worth approximately $65,000. Quantbot Technologies LP bought a new position in shares of Orion Office REIT during the 2nd quarter worth approximately $56,000. Captrust Financial Advisors bought a new position in shares of Orion Office REIT during the 2nd quarter worth approximately $57,000. Finally, Spire Wealth Management boosted its stake in shares of Orion Office REIT by 62.9% during the 1st quarter. Spire Wealth Management now owns 5,640 shares of the company’s stock worth $38,000 after acquiring an additional 2,178 shares during the period. 87.30% of the stock is currently owned by institutional investors.

Orion Office REIT Stock Performance

Shares of NYSE ONL opened at $5.84 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. Orion Office REIT Inc. has a 12 month low of $5.27 and a 12 month high of $10.69. The stock has a 50 day moving average of $6.40 and a 200-day moving average of $6.52. The company has a market capitalization of $331.13 million, a P/E ratio of -3.42 and a beta of 0.92.

Orion Office REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 6.85%. Orion Office REIT’s dividend payout ratio (DPR) is presently -23.39%.

Orion Office REIT Company 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.