Profile
Sector:
Real EstateIndustry:
OfficeCountry:
United StatesIPO:
23 November 2021Website:
http://www.onlreit.comNext earnings report:
07 November 2024Last dividends:
30 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:50:03 GMTAnalysts recommendations
Institutional Ownership
ONL Latest News
Orion Office REIT: Potential for Value Following Recent Stock Downturn
We shifted back to a sell rating on Orion Office due to increased office distress and doubts about the company's ability to out-earn its current enterprise value. Q4-2023 earnings showed a miss in funds from operations but there were bigger issues that came to light. We go over our logic of sticking with the sell rating despite the huge drop in stock price.
Orion Office REIT Inc. is a new company formed from the office properties of Realty Income and VEREIT upon their merger. The office sector is currently out of favor, but the need for office spaces will likely increase in the future. The stock price has been dropping, but spinoffs tend to outperform the market over time and the company has potential for long-term success.
We had previously upgraded Orion from a Sell to a Hold, as we saw the possibility of it out-earning its enterprise value. The fundamentals have actually worsened and the REIT looks to have a challenging 2024. We give you three reasons why you should consider exiting.
Orion Office REIT Inc. (NYSE:ONL ) Q3 2023 Earnings Call Transcript November 10, 2023 10:00 AM ET Company Participants Paul Hughes - General Counsel Paul McDowell - Chief Executive Officer Gavin Brandon - Chief Financial Officer Christopher Day - Chief Operating Officer Conference Call Participants Mitch Germain - JMP Securities Operator Greetings. Welcome to Orion Office REIT's Third Quarter 2023 Earnings Call.
Orion Office REIT Inc. is a new company formed from the office properties of Realty Income and VEREIT. The office sector is currently out of favor, but the need for office spaces will likely increase in the future. The stock price has been dropping, but spinoffs tend to outperform the market over time and the company has potential for long-term success.
PHOENIX--(BUSINESS WIRE)--Orion Office REIT Inc. (NYSE: ONL) (“Orion” or the “Company”), a fully-integrated real estate investment trust focused on the ownership, acquisition and management of single-tenant net lease mission-critical suburban office properties located across the U.S., announced today that it will release financial results for the second quarter of 2023 after market close on Wednesday, August 9, 2023. Webcast and Conference Call Information Orion will host a webcast and conferen.
ONL is an office REIT situated in 10 different states in the US. Quarter of their leases are going to expire in 2024 making 1.5-1.9 million square feet vacant.
Sell Alert: 2 REITs That Will Likely Cut Their Dividends.
What type of business is Orion Office REIT?
Orion Office REIT specializes in the ownership, acquisition and management of a diversified portfolio of mission-critical and corporate headquarters office buildings in high-quality suburban markets across the U.S. The portfolio is leased primarily on a single-tenant net lease basis to creditworthy tenants. The company's team of experienced industry leaders employs a proven, cycle-tested investment evaluation framework which serves as the lens through which capital allocation decisions are made for the current portfolio and future acquisitions.
What sector is Orion Office REIT in?
Orion Office REIT is in the Real Estate sector
What industry is Orion Office REIT in?
Orion Office REIT is in the Office industry
What country is Orion Office REIT from?
Orion Office REIT is headquartered in United States
When did Orion Office REIT go public?
Orion Office REIT initial public offering (IPO) was on 23 November 2021
What is Orion Office REIT website?
https://www.onlreit.com
Is Orion Office REIT in the S&P 500?
No, Orion Office REIT is not included in the S&P 500 index
Is Orion Office REIT in the NASDAQ 100?
No, Orion Office REIT is not included in the NASDAQ 100 index
Is Orion Office REIT in the Dow Jones?
No, Orion Office REIT is not included in the Dow Jones index
When was Orion Office REIT the previous earnings report?
No data
When does Orion Office REIT earnings report?
The next expected earnings date for Orion Office REIT is 07 November 2024