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Sep 30, 2024
Orion Office REIT Q3 2024 Earnings Report
Orion Office REIT announced its Q3 2024 results, reporting total revenues of $39.2 million and a net loss attributable to common stockholders of $(10.2) million, or $(0.18) per share.
Key Takeaways
Orion Office REIT reported Q3 2024 results with a total revenue of $39.2 million and a net loss of $(10.2) million. The company completed 254,000 square feet of leasing during the quarter, contributing to 832,000 square feet year-to-date. They also acquired a 97,000 square foot property in San Ramon, California for $34.6 million and declared a dividend for the fourth quarter of 2024.
Completed 832,000 square feet of leasing year-to-date, including 254,000 square feet in the quarter.
Acquired one 97,000 square foot property in San Ramon, California for $34.6 million.
Declared a quarterly cash dividend of $0.10 per share for the fourth quarter of 2024.
Narrowing its 2024 Core FFO guidance range to reflect greater certainty in its estimates for the remainder of the year.
Forward Guidance
The Company is narrowing its 2024 Core FFO guidance range to reflect greater certainty in its estimates for the remainder of the year. The Company’s 2024 General and Administrative Expenses and Net Debt to Adjusted EBITDA guidance ranges are unchanged from last quarter.
Positive Outlook
- Core FFO per share between $0.99 and $1.01
- General & Administrative Expenses: $19.5 million to $20.5 million
- Net Debt to Adjusted EBITDA: 6.2x to 6.6x
Historical Earnings Impact
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