earnings
confidence high
sentiment negative
materiality 0.70
Orion Office REIT Q2 net loss widens to $33.8M; Core FFO per share falls to $0.25
Orion Properties Inc.
2024-Q2 EPS reported
-$1.07
revenue$87,321,000
- Total revenues of $40.1M (down 23% YoY); net loss attributable to common stockholders $(33.8)M.
- Core FFO of $14.2M ($0.25/share) vs $26.9M ($0.48/share) in Q2 2023.
- Leased 470k sq ft in Q2, plus 55k sq ft post-quarter; YTD leasing of 633k sq ft, double full-year 2023.
- Sold one vacant property for $2.1M; 18 non-core properties sold since spin-off (1.9M sq ft).
- Declared $0.10/share Q3 dividend; narrowed 2024 Core FFO guidance to $0.97–$1.01 per share.