Orion Office REIT Inc. (NYSE:ONL) Plans Quarterly Dividend of $0.02

Orion Office REIT Inc. (NYSE:ONL) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, December 31st will be given a dividend of $0.02 per share on Friday, January 15th. This represents a $0.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, December 31st.

Orion Office REIT Stock Up 7.4%

Shares of NYSE ONL opened at $2.52 on Friday. The stock has a market cap of $143.50 million, a PE ratio of -1.40 and a beta of 1.59. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.68. Orion Office REIT has a 12-month low of $1.89 and a 12-month high of $3.05. The company has a 50-day moving average of $2.42 and a 200 day moving average of $2.56.

Orion Office REIT (NYSE:ONL) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.28. The firm had revenue of $35.43 million for the quarter, compared to the consensus estimate of $33.69 million. Orion Office REIT had a negative return on equity of 14.85% and a negative net margin of 65.66%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Office REIT in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.50.

About Orion Office REIT

Orion Office REIT Inc (NYSE: ONL) is a real estate investment trust focused on owning and managing office properties. Its portfolio has primarily consisted of office buildings leased to single tenants, with an emphasis on properties occupied by creditworthy tenants and supported by long-term leases.

The company was formed through a 2021 spin-off from Realty Income Corporation. At the time of the separation, Orion Office REIT received a portfolio of office properties located across multiple U.S.