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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.
Orion Office REIT
Orion Office REIT
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