Orion Office REIT (NYSE:ONL) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

Orion Office REIT Stock Up 13.4%

Orion Office REIT stock traded up $0.32 during midday trading on Friday, reaching $2.67. The stock had a trading volume of 1,347,968 shares, compared to its average volume of 521,413. The stock has a market capitalization of $151.45 million, a P/E ratio of -5.12 and a beta of 1.59. The firm’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.11 and a current ratio of 4.11. Orion Office REIT has a 1-year low of $1.89 and a 1-year high of $3.05.

Orion Office REIT Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Office REIT in a research note 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.