Orion Properties
Repositions U.S. single-tenant net-lease properties toward dedicated-use assets with office components.
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Profile
Owns, acquires, and manages primarily single-tenant, net-lease real estate in U.S. suburban markets. The portfolio is shifting from traditional office toward government, medical, laboratory/R&D, and flex uses with an office component.
Owns, acquires, and manages primarily single-tenant, net-lease real estate in high-quality U.S. suburban markets. The properties are located across the United States. The portfolio combines traditional office with government, medical-office, flex/laboratory-and-R&D, and flex/industrial properties.
Asset management, leasing, property sales, and acquisitions support a shift away from traditional office and toward dedicated-use assets with an office component. Dedicated-use assets retain an office component.
The internally managed REIT depends on leases with individual tenants. Many inherited office leases were short term and many tenants were moving out, informing the disposition and leasing program.
Company facts
Categories
Key statistics
Year to date +25.7% · Average volume (30d) 297.1K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.07 | $0.42 | +700.0% | $34.2M | $34.3M | +0.4% | +8.46% |
| May 7, 2026Q1 FY26 | −$0.12 | −$0.24 | −100.0% | $34.4M | $36.3M | +5.4% | +1.41% |
| Mar 5, 2026Q4 FY25 | −$0.13 | −$0.64 | −392.3% | $36.1M | $35.2M | −2.4% | −3.92% |
| Nov 6, 2025Q3 FY25 | −$0.13 | −$1.23 | −846.2% | $36.2M | $37.1M | +2.6% | +6.12% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $38.0M | $37.3M | $37.1M | $35.2M | $36.3M | $34.3M | |
| Gross profit | $21.6M | $21.4M | $19.8M | $20.0M | $21.2M | −$5.2M | |
| Operating income | $569.0K | $1.6M | −$63.3M | −$5.0M | −$3.3M | $3.7M | |
| Net income | −$9.4M | −$25.1M | −$69.0M | −$35.8M | −$13.6M | $24.6M | |
| Diluted EPS | −$0.17 | −$0.45 | −$1.23 | −$0.64 | −$0.24 | $0.42 | |
| Gross margin | 56.7% | 57.4% | 53.4% | 56.8% | 58.4% | -15.2% | |
| Operating margin | 1.5% | 4.4% | -170.5% | -14.1% | -9.2% | 10.8% |
Fiscal years (4-quarter sums)FY21 $79.7M · FY22 $208.1M · FY23 $195.0M · FY24 $164.9M · FY25 $147.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $16.9M · Total debt $451.2M · Total assets $1.14B · Shareholders' equity $632.8M
Dividends
Last cut to $0.02 from $0.10 in Mar 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.02 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.02 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.02 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.02 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.02 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.02 | cut from $0.10 |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.10 | |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.10 |
Ownership
Shares outstanding 56.83M · Float 49.47M · 87.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Kawa Capital Management, Inc | 5.47M | 9.70% | 13D | Jan 26, 2026 |
| Private Management Group Inc | 5.36M | 9.43% | 13F | Jul 31, 2026 |
| BlackRock, Inc. | 3.78M | 6.60% | 13G | Jul 29, 2026 |
| Sanda Par Olof | 3.38M | 6.00% | 13G | Feb 10, 2026 |
| Vanguard Capital Management LLC | 2.43M | 4.27% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Office Properties Income Trust
U.S. office portfolio with government and R&D properties
- Highwoods Properties
Sun Belt office properties in eight business districts
- Easterly Government Properties
U.S. government-leased Class A commercial property platform
- Healthpeak Properties
Outpatient medical and laboratory real estate platform
- Alexandria Real Estate Equities
Life-science laboratory and office campuses in innovation clusters
- Global Net Lease
Global net-lease portfolio with a dedicated Office segment
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Orion Properties | $2.84 | 0.00% | $161.4M | — | — | 1.1 | −8.0% |
| Office Properties Income Trust | $17.75 | −0.39% | $1.31B | — | — | 3.0 | +2.0% |
| Highwoods Properties | $31.01 | −0.45% | $3.44B | 20.5 | 37.0 | 4.1 | +7.2% |
| Easterly Government Properties | $24.63 | +0.08% | $1.14B | 118.6 | 84.9 | 3.2 | +6.4% |
| Healthpeak Properties | $20.79 | −0.79% | $14.45B | 59.9 | 101.1 | 4.9 | +8.0% |
| Alexandria Real Estate Equities | $51.98 | +0.81% | $8.99B | — | — | 3.0 | −15.6% |
| Global Net Lease | $9.16 | −0.05% | $1.94B | — | — | 4.2 | −10.0% |
| Median | 59.9 | 84.9 | 3.7 | +4.2% |