Orion Office REIT Q3 revenues $39.2M, Core FFO $0.21; narrows 2024 Core FFO guidance to $0.99-$1.01

Orion Properties Inc.

2024-Q3 EPS reported -$1.26 revenue$126,499,000

Total revenues $39.2M (down from $49.1M in Q3 2023); net loss $(10.2)M or $(0.18) per share.
Core FFO $12.0M ($0.21 per share) vs $24.1M ($0.43) in prior-year quarter.
Leased 254k sq ft in Q3, 832k sq ft YTD; acquired 97k sq ft flex/lab facility in San Ramon, CA for $34.6M.
Declared Q4 dividend $0.10 per share, payable Jan 15, 2025 to holders of record Dec 31, 2024.
2024 Core FFO per share guidance narrowed to $0.99-$1.01; G&A unchanged $19.5M-$20.5M; Net Debt/EBITDA 6.2x-6.6x.

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