Orion Properties Inc. ONL
Orion Properties Inc. is an investment firm concentrating its expertise on acquiring, owning, and managing a varied collection of essential corporate headquarters and vital office properties situated in premier suburban markets nationwide. This portfolio is predominantly secured by single-tenant net leases with financially robust tenants. The company's seasoned leadership team employs a rigorous, market-tested investment framework that directs their strategic capital deployment across both their existing holdings and prospective acquisitions.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-05 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-05-07) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model ONL yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $147.65M | $-139.31M | $58.75M | $-48.76M | $23.58M |
| 2024 | $164.86M | $-103.01M | $100.82M | $30.70M | $54.26M |
| 2023 | $195.04M | $-57.30M | $109.11M | $81.92M | $89.09M |
| 2022 | $208.12M | $-97.49M | $131.37M | $64.28M | $114.23M |
| 2021 | $79.73M | $-47.48M | $43.92M | $882.00K | $56.11M |
| 2020 | $53.47M | $-1.90M | $25.95M | $26.98M | $42.33M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-05-05 | $0.02 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-03-04 | $0.02 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-15 | 2025-11-05 | $0.02 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-08-05 | $0.02 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-15 | 2025-05-07 | $0.02 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-03-04 | $0.02 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-15 | 2024-11-07 | $0.10 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-15 | 2024-08-08 | $0.10 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-15 | 2024-05-07 | $0.10 | Quarterly |
| 2024-03-27 | 2024-03-29 | 2024-04-15 | 2024-02-27 | $0.10 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-16 | 2023-11-09 | $0.10 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-16 | 2023-08-08 | $0.10 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-17 | 2023-05-08 | $0.10 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-17 | 2023-03-07 | $0.10 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-17 | 2022-11-01 | $0.10 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-17 | 2022-08-02 | $0.10 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-05-04 | $0.10 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-15 | 2022-03-22 | $0.10 | Quarterly |
Coverage (payout of operating cash flow): 19.08%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — ONL
Orion Office REIT Q1 Earnings Call Highlights
Orion Properties Makes Progress With Deleveraging As Strategic Review Continues
Orion Properties Inc. (ONL) Q1 2026 Earnings Call Transcript
Orion Properties Inc. Announces First Quarter 2026 Results
Easterly Government Properties (NYSE:DEA) versus Orion Office REIT (NYSE:ONL) Head to Head Comparison
What Moved Markets This Week
Orion Properties: A Lot Of Moving Parts, But Refinancing Risk Is Off The Table (Rating Upgrade)
Orion Properties Inc. Announces First Quarter 2026 Earnings Release and Webcast Dates
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.