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

by · The Cerbat Gem

Orion Office REIT (NYSE:ONL – Get Free Report) announced its quarterly earnings results 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. The company 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 Trading Up 13.4%

ONL traded up $0.32 during trading on Friday, hitting $2.67. The company’s stock had a trading volume of 1,347,968 shares, 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. Orion Office REIT has a twelve month low of $1.89 and a twelve month high of $3.05. The stock’s fifty day moving average price is $2.42 and its 200-day moving average price is $2.57. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.68.

Orion Office REIT Dividend Announcement

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

Analysts Set New Price Targets

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

Read Our Latest Stock Report on Orion Office REIT

About Orion Office REIT

(Get Free Report)

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.

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