Orion Properties Q2 net income $24.6M; raises Core FFO guidance, lowers debt leverage

Orion Properties Inc.

Q2 total revenues $34.3M (down from $37.3M YoY); net income $24.6M vs net loss $25.1M in Q2 2025.
Core FFO $11.8M ($0.20/diluted share), flat YoY; raised 2026 Core FFO guidance to $0.72-$0.77 per share.
Reduced debt by $60.7M in Q2, including $35.7M on CMBS loan; Net Debt/Adjusted EBITDA improved to 5.4x.
Completed 202,000 sq ft leasing in Q2, 673,000 sq ft YTD; sold two properties and Deerfield campus for $70.6M.
Declared Q3 dividend of $0.02/share payable Oct 15; strategic options review ongoing.

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