Orion Office REIT (NYSE:ONL) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Key Points

• Orion Office REIT reported quarterly EPS of ($0.24), missing analysts’ expectations of ($0.12) and signaling continued profitability pressure.
• Revenue came in at $36.27 million, ahead of the $34.41 million estimate, showing the company beat on sales despite the earnings miss.
• The company updated its FY 2026 EPS guidance to $0.69-$0.76 and also declared a quarterly dividend of $0.02 per share, which implies a 2.8% yield.

Orion Office REIT (NYSE:ONL - Get Free Report) issued its earnings results on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.12), FiscalAI reports. The company had revenue of $36.27 million during the quarter, compared to analyst estimates of $34.41 million. Orion Office REIT had a negative return on equity of 21.38% and a negative net margin of 98.36%. Orion Office REIT updated its FY 2026 guidance to 0.690-0.76 EPS.

Orion Office REIT Price Performance

Shares of NYSE:ONL traded up $0.05 during midday trading on Friday, reaching $2.89. The company's stock had a trading volume of 469,943 shares, compared to its average volume of 332,719. The business's fifty day simple moving average is $2.39 and its 200-day simple moving average is $2.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.39 and a quick ratio of 2.39. Orion Office REIT has a fifty-two week low of $1.63 and a fifty-two week high of $3.05. The company has a market capitalization of $163.95 million, a P/E ratio of -1.13 and a beta of 1.57.

Orion Office REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. Orion Office REIT's dividend payout ratio is presently -3.13%.

Institutional Investors Weigh In On Orion Office REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONL. Jane Street Group LLC grew its stake in shares of Orion Office REIT by 112.6% during the first quarter. Jane Street Group LLC now owns 85,594 shares of the company's stock valued at $183,000 after purchasing an additional 45,341 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Orion Office REIT by 43.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 983,664 shares of the company's stock worth $2,095,000 after purchasing an additional 299,309 shares during the last quarter. Gabelli Funds LLC acquired a new position in Orion Office REIT during the 2nd quarter worth $26,000. Qube Research & Technologies Ltd acquired a new position in Orion Office REIT during the 2nd quarter worth $62,000. Finally, Raymond James Financial Inc. boosted its position in Orion Office REIT by 1.7% in the 2nd quarter. Raymond James Financial Inc. now owns 305,109 shares of the company's stock valued at $650,000 after buying an additional 5,242 shares during the last quarter. Institutional investors and hedge funds own 79.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ONL. Wall Street Zen upgraded Orion Office REIT from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Orion Office REIT in a report on Tuesday, April 21st. Finally, JonesTrading increased their target price on shares of Orion Office REIT from $3.00 to $3.50 and gave the stock a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Orion Office REIT currently has an average rating of "Hold" and an average target price of $3.50.

Key Headlines Impacting Orion Office REIT

Here are the key news stories impacting Orion Office REIT this week:

• Positive Sentiment: JonesTrading raised its price target on Orion Office REIT to $3.50 from $3.00 and reiterated a buy rating, implying meaningful upside from current levels. Benzinga report
• Positive Sentiment: The company announced a quarterly dividend of $0.02 per share, reinforcing its income appeal for REIT investors. Business Wire results release
• Neutral Sentiment: Orion Office REIT issued FY 2026 EPS guidance of $0.69 to $0.76, which gives investors a clearer outlook but does not by itself signal a major surprise. Business Wire results release
• Negative Sentiment: First-quarter EPS came in at ($0.24), missing analyst expectations of ($0.12), highlighting ongoing profitability pressure. Business Wire results release

Orion Office REIT Company Profile

Orion Office REIT is a publicly traded real estate investment trust that acquires, owns and manages a diversified portfolio of Class A office properties across high-growth U.S. markets. The company focuses on suburban and infill locations, targeting properties with strong tenant credit profiles and long-term lease structures. Its business strategy emphasizes active asset management, capital recycling and selective development to enhance income stability and potential total return for shareholders.

Orion Office REIT debuted on the New York Stock Exchange under the ticker ONL following a spin-off from Government Properties Income Trust in June 2021, though many of its core assets trace back to acquisitions made as early as 2013.

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