State Street Corp. Updates Passive Stake in Orion Office REIT
Ticker: ONL · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1873923
| Field | Detail |
|---|---|
| Company | Orion Office Reit Inc. (ONL) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, REIT
TL;DR
**State Street still owns a chunk of Orion Office REIT, but it's a passive stake.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 23, 2024, indicating its ownership in Orion Office REIT Inc. (NYSE: ONL) as of December 31, 2023. This filing updates their previous disclosure, showing their continued significant, but passive, stake in the office REIT. For investors, this means a large institutional player maintains confidence in ONL, which could signal stability or potential for future growth, but it doesn't suggest any active management changes.
Why It Matters
This filing confirms State Street Corporation's continued substantial, yet passive, investment in Orion Office REIT, providing a signal of institutional confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing is a routine update of a passive institutional ownership stake and does not indicate any immediate risks or changes to the company's operations.
Analyst Insight
A smart investor would note State Street's continued passive ownership as a sign of institutional presence, but recognize it doesn't signal any imminent strategic shifts or activist intentions for Orion Office REIT Inc.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Orion Office REIT Inc. (company) — the subject company in which shares are held
- 0000093751 (company) — Central Index Key (CIK) for State Street Corporation
- 0001873923 (company) — Central Index Key (CIK) for Orion Office REIT Inc.
- December 31, 2023 (date) — the date of the event requiring the filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, indicating a change in previously reported beneficial ownership of securities.
Who is the reporting person in this filing?
The reporting person is STATE STREET CORPORATION, with an I.R.S. Identification No. of 04-2456637.
Which company's shares are being reported on?
The shares being reported on belong to Orion Office REIT Inc. (CUSIP Number: 68629Y103), which operates in the Real Estate Investment Trusts (REITs) sector.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule is this Schedule 13G/A filed?
This Schedule 13G/A is filed under Rule 13D-1 (B) of the Securities Exchange Act of 1934.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding Orion Office REIT Inc. (ONL).