Orion Office REIT (NYSE:ONL – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The company had revenue of $35.43 million during the quarter, compared to analysts’ expectations 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%
Shares of NYSE ONL traded up $0.32 during mid-day trading on Friday, reaching $2.67. 1,347,968 shares of the company’s stock were exchanged, compared to its average volume of 521,413. Orion Office REIT has a twelve month low of $1.89 and a twelve month high of $3.05. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $151.45 million, a price-to-earnings ratio of -5.12 and a beta of 1.59. The business has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $2.57.
Orion Office REIT Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.0%. Orion Office REIT’s dividend payout ratio (DPR) is currently -4.73%.
Wall Street Analyst Weigh In
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. According to MarketBeat.com, Orion Office REIT presently has an average rating of “Hold” and a consensus target price of $3.50.
Get Our Latest Report on Orion Office REIT
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.
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