Orion Office REIT (NYSE:ONL) Shares Down 3.7% – Here’s What Happened

Orion Office REIT Inc. (NYSE:ONL)’s stock price was down 3.7% during mid-day trading on Friday . The company traded as low as $1.93 and last traded at $1.9450. Approximately 546,360 shares changed hands during mid-day trading, an increase of 72% from the average daily volume of 317,243 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ONL shares. Wall Street Zen upgraded Orion Office REIT from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Orion Office REIT in a research report on Thursday, January 22nd. Finally, JonesTrading upgraded shares of Orion Office REIT from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Orion Office REIT has a consensus rating of “Hold” and a consensus target price of $3.00.

Orion Office REIT Trading Down 3.7%

The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $2.37 and a 200 day moving average of $2.40. The firm has a market cap of $110.53 million, a PE ratio of -0.78 and a beta of 1.37.

Orion Office REIT (NYSE:ONL) last released its earnings results on Thursday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.51). The firm had revenue of $35.22 million during the quarter, compared to analysts’ expectations of $36.18 million. Orion Office REIT had a negative return on equity of 20.13% and a negative net margin of 94.35%.Orion Office REIT has set its FY 2026 guidance at 0.690-0.760 EPS.

Orion Office REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. Orion Office REIT’s payout ratio is currently -3.21%.

Institutional Investors Weigh In On Orion Office REIT

Institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC purchased a new position in shares of Orion Office REIT in the second quarter worth about $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Orion Office REIT by 72.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,703 shares of the company’s stock valued at $29,000 after buying an additional 5,741 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of Orion Office REIT during the 4th quarter valued at approximately $30,000. AXQ Capital LP bought a new position in Orion Office REIT in the 4th quarter worth approximately $30,000. Finally, Hudson Bay Capital Management LP bought a new position in Orion Office REIT in the 2nd quarter worth approximately $30,000. 79.95% of the stock is owned by hedge funds and other institutional investors.

About Orion Office REIT

Orion Office REIT is a publicly traded real estate investment trust that acquires, owns and manages a diversified portfolio of Class A office properties across high-growth U.S. markets. The company focuses on suburban and infill locations, targeting properties with strong tenant credit profiles and long-term lease structures. Its business strategy emphasizes active asset management, capital recycling and selective development to enhance income stability and potential total return for shareholders.

Orion Office REIT debuted on the New York Stock Exchange under the ticker ONL following a spin-off from Government Properties Income Trust in June 2021, though many of its core assets trace back to acquisitions made as early as 2013.