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. (ONL) reported second-quarter results for 2022, revealing total revenue of $52.8 million and Core FFO of $26.8 million or $0.47 per share. The company secured 206,000 square feet of lease extensions and completed the sale of two properties for $9.2 million, with agreements in place to sell six additional properties totaling $18.9 million. The net loss attributable to common stockholders was $(15.6 million), or $(0.27) per share. Orion maintains a portfolio occupancy rate of 86.7%.
Orion Office REIT Inc. (NYSE: ONL) will release its second-quarter 2022 financial results after market close on August 3, 2022. A webcast and conference call to discuss these results will occur at 10:00 a.m. ET on August 4, 2022, hosted by CEO Paul McDowell and CFO Gavin Brandon. Investors can access the call via Orion’s website or by dialing in, with a replay available post-call until August 18, 2022. Orion, focused on single-tenant net lease office properties in the U.S., was founded in July 2021 and began trading on the NYSE in November 2021.
In its first quarter results ending March 31, 2022, Orion Office REIT reported total revenue of $53.2 million and Core FFO of $28.0 million, or $0.49 per share. The company secured 178,000 square feet in lease extensions and expansions in Texas and Georgia and reached an agreement to sell three properties for $13 million. Although it reported a net loss of $9.9 million, Orion's operating performance aligns with expectations, and it maintains guidance for Core FFO per share between $1.66 and $1.74.
Orion Office REIT Inc. (NYSE: ONL) announced it will release its financial results for Q1 2022 after market close on May 4, 2022. A webcast and conference call will occur on May 5, 2022, at 10:00 a.m. ET, hosted by CEO Paul McDowell and CFO Gavin Brandon. This event will review the financial outcomes for the period, focusing on its portfolio of single-tenant net lease office properties across the U.S. Investors can access the conference call via the company’s website or by dialing designated numbers for U.S., Canada, and international participants.
Orion Office REIT Inc. (NYSE: ONL) released its fourth quarter 2021 financial results, marking a period of transition following its spin-off from Realty Income. The company reported a net loss of $(54.9) million, or $(0.97) per share, while core FFO was $26.8 million, or $0.47 per share. The weighted average lease term increased to 4.1 years as Orion signed key lease extensions, including an 11-year deal with Merrill Lynch. The total debt stood at $647.3 million, but the company secured a $355 million refinance, enhancing its liquidity to $346.4 million.
Orion Office REIT Inc. (NYSE: ONL) will announce its fourth quarter and full-year 2021 financial results on March 24, 2022, after market close. A conference call will follow at 5:00 p.m. ET the same day, featuring CEO Paul McDowell and CFO Gavin Brandon. The live webcast will be accessible through the company’s website. Replay options will be available post-call until April 7, 2022. Orion specializes in owning and managing mission-critical office properties leased to creditworthy tenants across the U.S.
On January 31, 2022, Arch Street Capital Advisors and Orion Office REIT Inc. (NYSE: ONL) announced a joint venture focused on acquiring long-term leased, single-tenant office assets. The Partnership has acquired six properties totaling approximately $227 million, including 700 Market Street in St. Louis, a 127,468 square foot office building leased to a creditworthy tenant. The Partnership aims to secure new investment opportunities ranging from $10 million to $60 million, enhancing its portfolio with high-quality assets.
On November 15, 2021, Realty Income Corporation (NYSE: O) announced the successful spin-off of its office assets into a new REIT, Orion Office REIT Inc. (NYSE: ONL). Stockholders of Realty Income received one share of Orion for every ten shares of Realty Income as of the record date of November 2, 2021. Trading of Orion shares began on the NYSE under the symbol 'ONL' after a brief 'when issued' trading period. Realty Income continues to trade under 'O'. The transaction aims to enhance shareholder value through focused asset management.
Orion Office REIT will replace Daktronics in the S&P SmallCap 600, effective November 16, 2021. This change follows Realty Income Corp.'s spinoff of Orion Office REIT, expected to complete on November 15, 2021. Daktronics is deemed unrepresentative of the small-cap market space. The shift indicates a restructuring within the index, impacting investor sentiment and market positioning. Keep an eye on the performance of ONL and DAKT stocks post these changes.
Realty Income Corporation (NYSE: O) has completed its merger with VEREIT, Inc. (NYSE: VER), marking a significant consolidation in the net lease sector. The merger, announced on November 1, 2021, was approved by stockholders and allows VEREIT stockholders to receive 0.705 shares of Realty Income for each share held. The combined company aims to leverage its increased scale and diversification to enhance shareholder value. Additionally, a spin-off of office assets into a new REIT, Orion Office REIT Inc. (NYSE: ONL), will occur on November 12, 2021, benefiting stockholders with special dividends.
FAQ
What is the current stock price of Orion Office REIT (ONL)?
What is the market cap of Orion Office REIT (ONL)?
What does Orion Office REIT Inc. specialize in?
What types of properties are included in Orion Office REIT's portfolio?
How does Orion Office REIT lease its properties?
What is the investment strategy of Orion Office REIT?
How does Orion Office REIT enhance shareholder value?
What recent achievements has Orion Office REIT accomplished?
How does Orion ensure high occupancy rates?
Is Orion Office REIT financially stable?
What is unique about Orion Office REIT's properties?
What markets does Orion Office REIT operate in?
