2.86
+6.32%
Close of 9 Nov 2026, in USD
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About Orion Office Reit
From its filings with the US Securities and Exchange Commission
Orion Office Reit is based in Phoenix, Arizona and is incorporated in Maryland. Its shares trade on NYSE under the ticker ONL. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2025, it reported revenue of $147.6m and a net loss of $139.3m. At that date it held total assets of $1.17bn and shareholders' equity of $623.2m.
Orion Properties Inc. is an internally managed real estate investment trust (“REIT”) engaged in the ownership, acquisition, and management of a diversified portfolio of office properties located in high-quality suburban markets across the United States and leased primarily on a single-tenant net lease basis to creditworthy tenants. Our portfolio is comprised of traditional office properties, as well as governmental, medical office, flex/laboratory and R&D and flex/industrial properties. As part of our investment strategy, we intend to shift our portfolio concentration over time away from traditional office properties, towards more dedicated use assets with specialized uses that include an office component.
The Company was initially formed as a wholly owned subsidiary of Realty Income Corporation (“Realty Income”). Following completion of the merger transaction involving Realty Income and VEREIT, Inc. (“VEREIT”) on November 1, 2021, Realty Income contributed the combined business comprising certain office real properties and related assets previously owned by subsidiaries of Realty Income, and certain office real properties and related assets previously owned by subsidiaries of VEREIT (the “Separation”), to the Company and its operating partnership, Orion Properties LP (“Orion OP”), and on November 12, 2021, effected a special distribution to Realty Income’s stockholders of all the outstanding shares of common stock of the Company (the “Distribution”).
Quoted from its 10-K, filed 5 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Real Estate
- Industry
- Real Estate Management & Development
- Listed since
- 15 Nov 2021
- Employees
- 37
- Website
- onlreit.com ↗
- Head office
- 3200 E. CAMELBACK ROAD, SUITE 100, PHOENIX, AZ, 85018
- Incorporated in
- MD
- Classification
- Real Estate Investment Trusts
- Filer status
- Accelerated filer<br>Smaller reporting company<br>Emerging growth company
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Orion Office REIT owns mission-critical office buildings in Phoenix, Arizona, leased to creditworthy tenants on single-tenant net leases.
- The company's experienced team uses a cycle-tested investment framework for capital allocation decisions.
- Orion Office REIT's diversified portfolio focuses on high-quality suburban markets across the U.S.
Weaknesses
- Orion Office REIT has only 37 employees, which may limit operational capacity.
- The company's portfolio is concentrated in suburban markets, potentially reducing exposure to urban demand.
- Orion Office REIT's single-tenant net lease structure may increase vacancy risk if tenants leave.
Opportunities
- Expanding into high-demand suburban markets across the U.S. could increase portfolio value.
- Orion Office REIT can leverage its cycle-tested framework to acquire more mission-critical assets.
- Growing demand for corporate headquarters in Phoenix, Arizona, presents new opportunities.
Threats
- Economic downturns could impact tenant creditworthiness and lease renewals.
- Rising interest rates may increase financing costs for real estate acquisitions.
- Competition from other REITs in the U.S. real estate sector could affect market share.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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