Orion Office REIT Q1 revenue falls

Orion Properties

07/05/2026 21:24

Overview

US office REIT's Q1 revenue fell yr/yr; Core FFO rose from prior-year period

Company completed 355,000 sq ft of leasing and sold two properties in Q1

2026 outlook reaffirmed; strategic review process ongoing

Outlook

Orion reaffirms 2026 Core FFO per share guidance of $0.69 to $0.76

Company maintains 2026 net debt to adjusted EBITDA outlook of 6.5x to 7.3x

Orion expects 2026 general and administrative expense of $19.8 mln to $20.8 mln

Result Drivers

LEASING ACTIVITY - Co completed 355,000 sq ft of leasing in Q1, which management said supports portfolio stabilization

ASSET SALES - Co sold two non-core properties in Q1 and additional assets after quarter-end, which it said reduced carrying costs of vacant assets

Company press release: ID:nBw5NPZYPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$36.3 mln
$34.51 mln (2 Analysts)
Q1 Net Income
-$13.6 mln
Q1 FFO
$5.8 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "hold."

Wall Street's median 12-month price target for Orion Properties Inc is $3.00, about 3.4% above its May 6 closing price of $2.90

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)