Yes, it is, and you're already doing the right thing. EntityX(Torch,True) should return the correct position. Since it isn't, the problem is your mesh, not your code. Evidently, you've exported your objects all based around a single pivot. You're going to have to go back into your modeller and see what you can adjust to give the objects a local pivot point. If you're not sure how to do that, tell us what modeller you're using and I'm sure someone else using the same modeller will know how.
Several models in a B3D file ...
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