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Mar 31, 2022
Orion Office REIT Q1 2022 Earnings Report
Orion Office REIT announced first quarter 2022 results, with total revenue of $53.2 million and core FFO of $28.0 million, or $0.49 per share.
Key Takeaways
Orion Office REIT Inc. reported its first quarter 2022 results, highlighting a total revenue of $53.2 million and a Core FFO of $28.0 million, or $0.49 per share. The company secured 178,000 square feet of lease extensions and expansions in Texas and Georgia and reached an agreement to sell three properties for $13 million.
Total revenue reached $53.2 million.
Net loss attributable to common stockholders was $(9.9) million, or $(0.17) per share.
Funds from Operations (FFO) amounted to $26.7 million, or $0.47 per share.
Core FFO totaled $28.0 million, or $0.49 per share.
Forward Guidance
The Company’s first quarter 2022 performance is in line with expectations and our guidance for fiscal year 2022 remains unchanged. As a reminder, the Company estimates the following guidance for fiscal year 2022: LowHighCore FFO per share$1.66-$1.74General and Administrative Expenses$17 million-$18 millionNet Debt to Adjusted EBITDA4.7x-5.5x
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