Orion Office REIT (NYSE:ONL) Announces Quarterly Earnings Results

Orion Office REIT (NYSE:ONL) released its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports. Orion Office REIT had a negative return on equity of 4.51% and a negative net margin of 19.89%. The firm had revenue of $35.43 million for the quarter, compared to analyst estimates of $33.69 million.

Orion Office REIT Stock Performance

Shares of ONL stock traded up $0.32 during midday trading on Friday, hitting $2.67. 1,347,968 shares of the company were exchanged, compared to its average volume of 521,413. The firm has a market capitalization of $151.45 million, a P/E ratio of -5.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.11 and a current ratio of 4.11. The firm’s 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.57. Orion Office REIT has a 52 week low of $1.89 and a 52 week high of $3.05.

Orion Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, December 31st. Orion Office REIT’s dividend payout ratio (DPR) is currently -4.73%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Orion Office REIT in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Orion Office REIT has an average rating of “Hold” and an average target price of $3.50.

About Orion Office REIT

Orion Office REIT Inc (NYSE: ONL) is a real estate investment trust focused on owning and managing office properties. Its portfolio has primarily consisted of office buildings leased to single tenants, with an emphasis on properties occupied by creditworthy tenants and supported by long-term leases.

The company was formed through a 2021 spin-off from Realty Income Corporation. At the time of the separation, Orion Office REIT received a portfolio of office properties located across multiple U.S.