Orion Office REIT (ONL) AI Stock Analysis

• Market Cap: $136.28M
• Dividend Yield: 6.15%
• Average Volume (3M): 186.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.19
• Revenue Growth: -15.14%
• EPS Growth: 16.61%
• Country: US
• Employees: 40
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): -1.23
• Shares Outstanding: 56,314,632
• 10 Day Avg. Volume: 184,261
• 30 Day Avg. Volume: 186,561
• PEG Ratio: -0.03
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 1.26
• P/FCF Ratio: 6.55
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $2.50 ▼(-1.96% Downside)

Orion Office REIT's overall stock score is primarily impacted by its financial instability and bearish technical indicators. While the earnings call provided some positive guidance and leasing improvements, the valuation challenges and weak market momentum weigh heavily on the score.

Orion Office REIT Business Overview & Revenue Model

Company Description

Orion Office REIT (ONL) is a real estate investment trust (REIT) focused on acquiring and managing office properties located in key markets across the United States. The company specializes in providing high-quality office spaces, catering to a diverse range of tenants, including both established corporations and emerging businesses. Orion Office REIT aims to generate stable income and long-term capital appreciation through its portfolio of strategically located office assets, while also emphasizing operational efficiency and tenant satisfaction.

How the Company Makes Money

Orion Office REIT generates revenue primarily through leasing its office properties to tenants, collecting rental income on long-term leases. The company's revenue model is built on the consistent cash flow from these leases, which are often structured to include annual rent escalations. Additionally, ONL may benefit from ancillary revenue streams such as parking fees or service charges. The REIT may also realize capital appreciation through the appreciation of its property values over time, which can enhance total returns for shareholders. Strategic partnerships with property management firms and real estate advisors may also contribute to operational efficiencies and tenant retention, further stabilizing revenue streams.

Orion Office REIT Financial Statement Overview

Summary

Orion Office REIT exhibits financial instability, with declining revenues and consistent net losses impacting profitability. High leverage and negative returns signal financial stress, although cash flow management remains relatively stable. The company faces significant challenges in improving operational efficiency and achieving growth.

Income Statement

The company's revenue growth is erratic with recent declines, and it has been unable to generate positive net income, leading to negative net profit margins. Gross profit margin remains stable, but negative EBIT and EBITDA margins reflect operational challenges.

Balance Sheet

Orion Office REIT maintains a high level of debt, reflected in a significant debt-to-equity ratio. The equity ratio indicates a reasonable level of equity financing, but the negative return on equity is concerning, driven by consistent net losses.

Cash Flow

Cash flow analysis shows a decrease in operating cash flow and free cash flow over time. The company has a solid free cash flow to net income ratio, but fluctuations in free cash flow growth reflect potential cash management issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	152.85M	164.86M	195.04M	208.12M	79.73M	53.47M
Gross Profit	72.18M	99.71M	133.75M	146.60M	66.32M	47.70M
EBITDA	42.71M	30.70M	115.54M	130.69M	62.49M	44.85M
Net Income	-77.44M	-103.01M	-57.30M	-97.47M	-44.67M	-4.83M
Balance Sheet
Total Assets	1.29B	1.34B	1.42B	1.57B	1.76B	546.43M
Cash, Cash Equivalents and Short-Term Investments	17.38M	15.60M	22.47M	20.64M	29.32M	0.00
Total Debt	0.00	510.82M	476.93M	540.05M	637.46M	37.05M
Total Liabilities	558.86M	571.17M	536.93M	595.22M	671.19M	49.31M
Stockholders Equity	728.01M	763.92M	885.62M	974.47M	1.09B	497.12M
Cash Flow
Free Cash Flow	5.52M	31.68M	70.65M	102.61M	46.19M	41.86M
Operating Cash Flow	35.57M	54.26M	89.09M	114.23M	56.11M	42.33M
Investing Cash Flow	-42.94M	-51.26M	5.29M	22.48M	-12.26M	-464.00K
Financing Cash Flow	1.88M	-3.02M	-92.49M	-110.72M	-18.44M	-41.67M

Orion Office REIT Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.55
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ONL, the sentiment is Positive. The current price of 2.55 is above the 20-day moving average (MA) of 2.53, below the 50-day MA of 2.68, and above the 200-day MA of 2.54, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 53.55 is Neutral, neither overbought nor oversold. The STOCH value of 36.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ONL.

Orion Office REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PDM	53 Neutral	$1.02B	―	-4.45%	6.05%	-1.23%	9.10%
CIO	53 Neutral	$278.51M	―	-17.53%	5.80%	-3.69%	-777.30%
ONL	50 Neutral	$136.28M	―	-10.03%	6.15%	-15.14%	16.61%
BDN	45 Neutral	$574.91M	-3.07	-19.17%	15.63%	-5.52%	40.27%
OPI	41 Neutral	―	―	―	―	―	―
FSP	40 Underperform	$123.39M	―	-7.21%	3.45%	-14.68%	-13.53%

Orion Office REIT Corporate Events

Orion Properties Inc. Reports Increased Losses Amid Strategic Shift

Orion Properties Inc., a real estate investment trust (REIT), specializes in owning, acquiring, and managing a diversified portfolio of office properties across the United States, focusing on high-quality suburban markets with single-tenant net leases. Recently, the company has been shifting its portfolio towards more specialized use assets, including medical, governmental, and R&D properties.

Orion Office REIT Unveils Strategic Business Shift

On September 22, 2025, Orion Properties Inc. released an updated Investor Presentation detailing its business plan and strategic focus. The company aims to stabilize and reduce exposure to traditional office spaces by recycling capital into dedicated use assets, such as government buildings and medical offices, to support growth objectives and maintain a strong, liquid balance sheet. This strategic shift is expected to enhance Orion’s market positioning and potentially impact stakeholders by aligning with market trends favoring specialized property use.

The most recent analyst rating on (ONL) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Orion Office REIT stock, see the ONL Stock Forecast page.

Orion Properties Reports Q2 2025 Results and Strategic Moves

Orion Properties Inc., a real estate investment trust based in Phoenix, Arizona, focuses on owning and managing a diversified portfolio of office properties across the United States, primarily leased on a single-tenant net lease basis. The company recently reported its second-quarter 2025 results, highlighting significant leasing activity and strategic property sales. Orion completed 639,000 square feet of leasing year-to-date, with 179,000 square feet in the second quarter alone, and sold four vacant properties for $26.9 million. The company also declared a dividend for the third quarter and adjusted its 2025 financial guidance. Key financial metrics for the quarter included total revenues of $37.3 million and a net loss of $25.1 million, or $0.45 per share. Despite a decrease in revenues compared to the previous year, Orion’s strategic focus on dedicated use assets is expected to enhance tenant quality and defensive characteristics. Looking ahead, Orion’s management remains committed to its strategic shift towards dedicated use assets, aiming for long-term success and value maximization for shareholders.

Orion Office REIT’s Earnings Call: Mixed Sentiment with Optimistic Guidance

Orion Office REIT, Inc. recently held its earnings call, revealing a mixed sentiment among stakeholders. The company showcased strong leasing momentum and significant progress in property dispositions, which have positively impacted portfolio quality and occupancy rates. However, challenges such as reduced revenues, decreased core funds from operations (FFO), and increased costs were also highlighted. Despite these hurdles, the financial guidance has been improved, signaling optimism for the future.