Welcome to our dedicated page for Orion Office REIT news (Ticker: ONL), a resource for investors and traders seeking the latest updates and insights on Orion Office REIT stock.
Orion Office REIT Inc. (NYSE: ONL) is an internally-managed Real Estate Investment Trust (REIT) that focuses on the ownership, acquisition, and management of a diversified portfolio of mission-critical office buildings and corporate headquarters. These properties are strategically located in high-quality suburban markets across the United States. Orion Office REIT specializes in leasing these properties primarily on a single-tenant net lease basis to creditworthy tenants, ensuring a stable and predictable cash flow.
The company’s portfolio includes traditional office buildings, governmental offices, medical offices, laboratories, and other types of commercial real estate. With a team of experienced industry leaders, Orion employs a proven, cycle-tested investment evaluation framework. This framework guides capital allocation decisions for both the existing portfolio and future acquisitions, ensuring growth and sustainability.
Recent strategic moves and partnerships have reinforced Orion’s market position, allowing it to capitalize on emerging opportunities in the suburban office space. The company remains dedicated to maintaining high occupancy rates and fostering long-term relationships with its tenants.
Orion Office REIT's strong financial condition is underpinned by its diversified tenant base and long-term lease agreements. The company is committed to enhancing shareholder value through disciplined investment, operational excellence, and strategic growth initiatives.
Orion Office REIT Inc. (NYSE: ONL) announced it will release its financial results for Q1 2023 on May 9, 2023, after market close. A conference call will follow on May 10, 2023, at 10:00 a.m. ET, hosted by CEO Paul McDowell and CFO Gavin Brandon. Investors can join the call via the company’s website or by phone. This REIT focuses on net lease mission-critical suburban office properties across the U.S. Orion was founded on July 1, 2021, and began trading on the NYSE on November 15, 2021, after spinning off from Realty Income. The company is based in Phoenix, Arizona.
Orion Office REIT Inc. (NYSE: ONL) reported total revenues of $208.1 million for 2022 but faced a net loss of $(97.5) million, equivalent to $(1.72) per share. Core FFO reached $101.8 million, exceeding guidance by $0.02 per share. Orion completed 0.8 million square feet of lease renewals and sold 11 properties for $33.1 million. The company had a portfolio occupancy rate of 89.0% and 73.3% of annualized base rent from investment-grade tenants. Looking ahead, Orion aims for a Core FFO per share of $1.55 - $1.63 for 2023. A quarterly dividend of $0.10 per share was declared, payable on April 17, 2023.
Orion Office REIT Inc. (NYSE: ONL) announced the income tax classification of its 2022 dividends, emphasizing the dividend payments for its common stock. Shareholders received $0.10 per share on March 31, June 30, and September 30 of 2022, with each payment classified as nondividend distributions. The dividend declared in November 2022 and paid in January 2023 is taxable in 2023, and shareholders should consult tax advisors for accurate reporting. Orion focuses on single-tenant net lease office properties across the U.S., aiming to enhance shareholder income through its diversified portfolio.
Orion Office REIT Inc. (NYSE: ONL) will release its financial results for Q4 and full year 2022 on
Orion Office REIT Inc. reported total revenues of $51.8 million for Q3 2022, alongside a net loss of $(53.0 million), equating to $(0.94) per share. The company achieved Core FFO of $24.0 million, or $0.42 per share. It sold six properties for about $24.8 million, with agreements to sell four more for $15.9 million. The Board approved a $50 million share repurchase program. The real estate portfolio consisted of 87 properties with an occupancy rate of 88.2%. The Company raised its Core FFO guidance for 2022, now expected to be between $1.76 and $1.78 per share.
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