Welcome to our dedicated page for Orion Properties news (Ticker: ONL), a resource for investors and traders seeking the latest updates and insights on Orion Properties stock.
Orion Properties Inc. reports developments for an internally managed REIT that owns, acquires and manages single-tenant net lease office properties and Dedicated Use Assets across the United States. Its portfolio includes traditional office, governmental, medical office, flex/laboratory, R&D and flex/industrial properties, with commercial real estate as its business segment.
Recurring Orion news covers quarterly and annual operating results, leasing activity, property acquisitions and dispositions, debt facilities, CMBS loan matters, dividend tax treatment and stockholder governance matters. Company updates also reference its history as a 2021 spin-off from Realty Income and its NYSE-listed common stock under the ONL symbol.
Orion Office REIT Inc. (NYSE: ONL) will announce its fourth quarter and full-year 2021 financial results on March 24, 2022, after market close. A conference call will follow at 5:00 p.m. ET the same day, featuring CEO Paul McDowell and CFO Gavin Brandon. The live webcast will be accessible through the company’s website. Replay options will be available post-call until April 7, 2022. Orion specializes in owning and managing mission-critical office properties leased to creditworthy tenants across the U.S.
On January 31, 2022, Arch Street Capital Advisors and Orion Office REIT Inc. (NYSE: ONL) announced a joint venture focused on acquiring long-term leased, single-tenant office assets. The Partnership has acquired six properties totaling approximately $227 million, including 700 Market Street in St. Louis, a 127,468 square foot office building leased to a creditworthy tenant. The Partnership aims to secure new investment opportunities ranging from $10 million to $60 million, enhancing its portfolio with high-quality assets.
On November 15, 2021, Realty Income Corporation (NYSE: O) announced the successful spin-off of its office assets into a new REIT, Orion Office REIT Inc. (NYSE: ONL). Stockholders of Realty Income received one share of Orion for every ten shares of Realty Income as of the record date of November 2, 2021. Trading of Orion shares began on the NYSE under the symbol 'ONL' after a brief 'when issued' trading period. Realty Income continues to trade under 'O'. The transaction aims to enhance shareholder value through focused asset management.
Orion Office REIT will replace Daktronics in the S&P SmallCap 600, effective November 16, 2021. This change follows Realty Income Corp.'s spinoff of Orion Office REIT, expected to complete on November 15, 2021. Daktronics is deemed unrepresentative of the small-cap market space. The shift indicates a restructuring within the index, impacting investor sentiment and market positioning. Keep an eye on the performance of ONL and DAKT stocks post these changes.
Realty Income Corporation (NYSE: O) has completed its merger with VEREIT, Inc. (NYSE: VER), marking a significant consolidation in the net lease sector. The merger, announced on November 1, 2021, was approved by stockholders and allows VEREIT stockholders to receive 0.705 shares of Realty Income for each share held. The combined company aims to leverage its increased scale and diversification to enhance shareholder value. Additionally, a spin-off of office assets into a new REIT, Orion Office REIT Inc. (NYSE: ONL), will occur on November 12, 2021, benefiting stockholders with special dividends.
Realty Income Corporation (NYSE: O) and VEREIT, Inc. (NYSE: VER) announced the anticipated closing of their merger on November 1, 2021. Concurrently, Realty Income's spin-off of office assets into a new entity, Orion Office REIT Inc. (NYSE: ONL), is effective as of October 22, 2021. Realty Income shareholders will receive one share of Orion for every ten shares held, with the record date set for November 2, 2021 and distribution on November 12, 2021. Shareholders are advised to consult financial advisors regarding tax implications of the transactions.