Orion Office REIT posts Q4 net loss $32.8M, cuts dividend, rebrands as Orion Properties

Orion Properties Inc.

Q4 rev $38.4M (-12% YoY); net loss $(32.8)M vs $(16.2)M loss; Core FFO $0.18 vs $0.33.
Full year 2024 revenue $164.9M (-15% YoY); net loss $(103.0)M; Core FFO $1.01 vs $1.68 in 2023.
Board declares Q1 2025 dividend of $0.02/share ($0.08 annualized), cutting payout to retain ~$17.9M cash annually.
Name changed to Orion Properties Inc.; strategy shift to dedicated use assets (flex/lab); ticker ONL unchanged.
CIO Gary Landriau to retire June 30, 2025; consulting through Jan 2026; expected ~$1M annual G&A savings.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Orion Properties Inc.: Amended Bylaws (First Amendment to Second Amended and Restated Bylaws) to change corporate name to Orion Properties Inc (effective 2025-03-05).

Change: bylaw amendment
Effective: 2025-03-05

Exact text from the filing

On March 5, 2025, the Company amended its Articles of Amendment and Restatement and Bylaws solely to change the corporate name from “Orion Office REIT Inc.” to “Orion Properties Inc.”

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Orion Properties Inc.: Amended Articles of Amendment and Restatement to change corporate name from Orion Office REIT Inc. to Orion Properties Inc (effective 2025-03-05).

Change: charter amendment
Effective: 2025-03-05

Exact text from the filing

On March 5, 2025, the Company amended its Articles of Amendment and Restatement and Bylaws solely to change the corporate name from “Orion Office REIT Inc.” to “Orion Properties Inc.”

View on SEC.gov

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Orion Properties Inc. filing history →

Source: SEC EDGAR

accession 0001873923-25-000031

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