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Mar 31, 2024
Orion Office REIT Q1 2024 Earnings Report
Orion Office REIT Inc. reported first quarter 2024 results, completed 108,000 square feet of leasing, and declared a dividend of $0.10 per share.
Key Takeaways
Orion Office REIT Inc. announced its first quarter 2024 operating results, with total revenues of $47.2 million and a net loss attributable to common stockholders of $(26.2) million, or $(0.47) per share. The company completed 522,000 square feet of new and renewal leasing thus far in 2024 and has agreements in place to sell 790,000 square feet of vacant space.
Total revenues for the first quarter were $47.2 million.
Net loss attributable to common stockholders was $(26.2) million, or $(0.47) per share.
Core FFO was $20.4 million, or $0.36 per share.
The company completed 108,000 square feet of leasing during the quarter and an additional 414,000 square feet subsequent to quarter end.
Revenue by Segment
Forward Guidance
The company reaffirms its 2024 guidance.
Positive Outlook
- Core FFO per share between $0.93 and $1.01
- General and Administrative Expenses between $19.5 million and $20.5 million
- Net Debt to Adjusted EBITDA between 6.2x and 7.0x
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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