Orion Office REIT (NYSE:ONL) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Orion Office REIT Price Performance

Shares of NYSE ONL traded up $0.32 during trading on Friday, hitting $2.67. 1,347,968 shares of the company were exchanged, compared to its average volume of 521,413. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.11 and a quick ratio of 4.11. Orion Office REIT has a 1 year low of $1.89 and a 1 year high of $3.05. The company has a market cap of $151.45 million, a price-to-earnings ratio of -5.12 and a beta of 1.59. The firm’s fifty day moving average price is $2.42 and its 200 day moving average price is $2.57.

Orion Office REIT Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orion Office REIT in a report on Thursday, October 15th. One 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.com, Orion Office REIT has an average rating of “Hold” and an average target price of $3.50.

Orion Office REIT Company Profile

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.