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Orion Office REIT

ONL

Orion Properties Inc. is an internally managed real estate investment trust (REIT) focused on the ownership and management of a diversified portfolio of office properties.

Market cap
$150.03M+0.4%
Revenue$145.9M-6.3%
Net income-$143.5M-66.6%
EPS (diluted)-$2.56-67.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$34.2M
EPS estimate-$0.07

Financials

Q1 2026

Income statement

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Revenue$36.3M-4.6%
Net income-$13.6M-45.0%
EPS (diluted)-$0.24-41.2%

Balance sheet

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Cash & equivalents$10.3M+9.5%
Total debt$12.1M+18.4%
Total equity$608.5M-19.2%
Total assets$1.2B-10.5%

Cash flow

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Operating cash flow-$7.7M-244%

Valuation & ratios

Valuation

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Market cap$150.03M+0.4%
Enterprise value$151.89M+9.0%
P/S+0.1×

Profitability

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Net margin-98.4%+344pp

Returns & leverage

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Return on equity-21.1%+621pp
Debt / equity0.0×

Segments

By product

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Rental Revenue$36.1M-4.4%
Fee income from unconsolidated joint venture$137.0K-32.8%

Competitors

Profile

Orion Properties Inc. is an internally managed real estate investment trust (REIT) focused on the ownership and management of a diversified portfolio of office properties. The company specializes in single-tenant net lease assets located in high-quality suburban markets across the United States, targeting creditworthy tenants. Its strategic objective involves transitioning the portfolio from traditional office spaces toward specialized, dedicated-use assets such as medical, laboratory, and industrial-flex properties.

Competitive position

Orion operates as a specialized spin-off entity with a portfolio concentrated in suburban single-tenant net lease office assets.

GeographiesUnited States
Customer segmentsSingle-tenant occupiers, Creditworthy corporate tenants, Government entities
Business modelNet Lease REIT, Property Management, Real Estate Acquisition
SuppliersCapital markets for financing, Real estate developers, Property brokerage firms
CustomersCorporate office tenants, Federal and local government agencies, Life science and industrial operators
Listed2021
Employees38.0
CEOPaul H. McDowell
FilingsSEC EDGAR

Questions, answered.

What is Orion Office REIT's market cap?
Orion Office REIT (ONL) has a market capitalization of $150.0M and trades on NYSE.
What is Orion Office REIT's revenue and profitability?
Orion Office REIT generated $145.9M in trailing twelve-month revenue with a net loss of $143.5M, representing a net margin of -98.4%. These figures are based on the Q1 2026 filing.
Who are Orion Office REIT's competitors?
Orion Office REIT's key competitors include Realty Income Corporation, W. P. Carey Inc., Broadstone Net Lease, Inc., and others. These companies compete in similar markets and product categories.
What subsidiaries does Orion Office REIT have?
Orion Office REIT's subsidiaries include Orion Properties LP.
Where is Orion Office REIT headquartered?
Orion Office REIT is headquartered in United States of America and employs approximately 38 people. It has been publicly traded since 2021.