Orion Office REIT (NYSE:ONL) Shares Cross Above 200 Day Moving Average – What’s Next?

Orion Office REIT Inc. (NYSE:ONL)’s stock price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $2.57 and traded as high as $2.72. Orion Office REIT shares last traded at $2.6650, with a volume of 1,347,968 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Office REIT in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.50.

Orion Office REIT Price Performance

The stock has a market capitalization of $151.45 million, a price-to-earnings ratio of -5.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.11 and a current ratio of 4.11. The company has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $2.57.

Orion Office REIT (NYSE:ONL) last released its earnings results on Thursday, November 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $35.43 million during the quarter, compared to the consensus estimate of $33.69 million. Orion Office REIT had a negative return on equity of 4.51% and a negative net margin of 19.89%.

Orion Office REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, December 31st. Orion Office REIT’s payout ratio is -4.73%.

Institutional Investors Weigh In On Orion Office REIT

Several institutional investors and hedge funds have recently bought and sold shares of ONL. Private Management Group Inc. raised its position in shares of Orion Office REIT by 2.7% in the 3rd quarter. Private Management Group Inc. now owns 5,500,856 shares of the company’s stock valued at $13,697,000 after buying an additional 143,553 shares in the last quarter. Sax Wealth Advisors LLC bought a new stake in shares of Orion Office REIT during the 3rd quarter worth approximately $29,000. Dupree Financial Group LLC acquired a new stake in shares of Orion Office REIT during the 3rd quarter worth approximately $51,000. State Street Corp boosted its position in shares of Orion Office REIT by 141.2% during the 2nd quarter. State Street Corp now owns 573,274 shares of the company’s stock worth $1,668,000 after acquiring an additional 335,600 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Orion Office REIT during the 2nd quarter worth approximately $121,000. Institutional investors own 79.95% of the company’s stock.

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.