Welcome to our dedicated page for Orion Properties SEC filings (Ticker: ONL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Orion Properties Inc. (NYSE: ONL) SEC filings page on Stock Titan provides access to the company’s official regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Orion is a Maryland-incorporated, internally managed REIT focused on single-tenant net lease office and dedicated use properties in high-quality suburban U.S. markets, and its filings offer detailed information on this business.
Through Orion’s annual reports on Form 10-K and quarterly reports on Form 10-Q, investors can review discussions of its office and dedicated use property portfolio, tenant base, lease structures, debt arrangements, liquidity and risk factors. These reports also explain how the company uses REIT-specific performance metrics such as Funds From Operations (FFO), Core FFO, Funds Available for Distribution (FAD), EBITDAre and Adjusted EBITDA, with reconciliations to GAAP measures.
Current reports on Form 8-K disclose material events, including quarterly earnings releases and supplemental information packages, updated investor presentations, and corporate actions such as the termination of an Equity Distribution Agreement. Filings also confirm Orion’s NYSE listing under the symbol ONL, its status as an emerging growth company, and details about its principal executive offices in Phoenix, Arizona.
On Stock Titan, these filings are updated in near real time from EDGAR, and AI-powered tools can help summarize lengthy documents such as 10-K and 10-Q reports, highlighting key items like portfolio metrics, leverage, and non-GAAP performance measures. Users can also review proxy materials and other filings referenced in Orion’s press releases for additional context on governance matters, director nominations and shareholder communications.
Kawa Capital Management, Inc. filed Amendment No. 2 to its Schedule 13D on Orion Properties Inc. (ONL), reporting beneficial ownership of 5,474,027 common shares, representing 9.7% of the company’s common stock of beneficial interest.
Acting through The Kawa Fund Limited, Kawa has sent a formal notice nominating five directors—Dan Amer, Porter Openshaw, Isaac K. Fisher, Nirmol Roy and Andrew Gitelson—for election to Orion’s board at the 2026 annual meeting. Nomination agreements with four of the nominees state they have agreed to be named in proxy materials and to serve as directors if elected, with commitments to act in the best interests of shareholders and exercise independent judgment.
Orion Properties Inc. terminated its Equity Distribution Agreement on November 10, 2025. The agreement, originally dated November 15, 2022, involved multiple agents and forward purchasers, including J.P. Morgan, Mizuho, Scotia, TD Securities, and Wells Fargo affiliates.
The company stated there are no termination penalties associated with ending the agreement. This change means Orion no longer has this at‑the‑market equity distribution facility in place; any future capital-raising approach would need to use other methods.
Orion Properties Inc. filed a shelf registration to offer up to $750,000,000 of securities, including common stock, preferred stock, depositary shares, debt securities, warrants, and units. The company may sell these from time to time after effectiveness, with terms set in future prospectus supplements.
Orion intends to use net proceeds for general corporate purposes, which may include funding acquisitions and repaying indebtedness. The company operates as a REIT and its charter limits ownership to 9.8% of common stock or aggregate value to help maintain REIT status. ONL is listed on the NYSE; the last reported sale price was $2.60 per share on November 7, 2025.
As of October 31, 2025, Orion had 56,314,634 shares of common stock outstanding. Offerings may be made through underwriters, dealers, agents, or directly to purchasers.
Orion Properties Inc. (ONL) reported a challenging quarter, highlighting substantial doubt about its ability to continue as a going concern due to uncertainty around extending or refinancing its Revolving Facility maturing on May 12, 2026. The company had $110.0 million outstanding on the revolver as of September 30, 2025 and $92.0 million as of November 6, 2025.
Operations reflected pressure from vacancies and asset revaluations. Q3 revenue was $37.1 million, down from $39.2 million a year ago, and the company posted a net loss of $69.0 million, or $1.23 per share, driven by $63.7 million of impairments in the quarter. Year-to-date, impairments totaled $84.9 million, contributing to a nine‑month net loss of $103.5 million. Orion completed three Q3 property sales for $21.8 million and recorded a $3.3 million gain on dispositions.
Liquidity included cash and restricted cash of $62.8 million as of September 30, 2025. Total debt was $481.8 million, consisting of $373.0 million of fixed-rate mortgages and $110.0 million on the revolver; scheduled principal includes $110.0 million due in 2026 and $355.0 million in 2027. Stockholders’ equity declined to $658.8 million from $763.9 million at year-end. Shares outstanding were 56,314,634 as of October 31, 2025.
Orion Properties Inc. (ONL) furnished quarterly materials under Item 2.02. On November 6, 2025, the company furnished a press release on its third quarter 2025 results (Exhibit 99.1) and supplemental information for the quarter ended September 30, 2025 (Exhibit 99.2). The materials are designated as “furnished,” not “filed,” under the Exchange Act.
ONL’s common stock trades on the New York Stock Exchange under the symbol ONL. The company also provided the Cover Page Interactive Data File as Exhibit 104.
Orion Properties Inc. (ONL) director Reginald Harold Gilyard purchased 55,000 shares on 08/27/2025 at a weighted-average price of $2.9092 per share. After the transaction he beneficially owns 227,778 shares, reported as direct ownership. The filing notes the purchase occurred in multiple trades with prices ranging from $2.84 to $2.92 and that trade-level detail is available on request. The Form 4 was signed by an attorney on behalf of the reporting person.
Orion Properties Inc. (NYSE: ONL) posted another quarterly loss and flagged a material refinancing risk. Q2-25 rental and fee revenue fell 7.0% YoY to $37.3 million as vacant space and lower rent levels outweighed modest fee income. Operating costs declined 14.7% but were still eclipsed by $19.5 million of non-cash impairments, producing a net loss of $25.1 million, or $(0.45) per share (Q2-24: $(0.60)). For the six-month period, revenue slid 13.8% to $75.3 million and net loss narrowed to $34.5 million.
Cash from operations dropped sharply to $9.3 million (6M-24: $28.0 million) as lower NOI and higher vacancy-related costs offset depreciation add-backs. Cash and cash equivalents stood at $17.4 million while restricted cash earmarked for tenant improvements was $36.1 million. Total debt was $483 million: $373 million fixed-rate CMBS debt maturing Feb-27 and $110 million drawn on a $350 million revolver that now matures 12 May 2026 after a May amendment. Management does not expect to generate sufficient cash to repay the revolver and has raised substantial doubt about the company’s ability to continue as a going concern absent an extension, refinancing, asset sales or new capital.
During the quarter Orion disposed of four properties for $26.9 million, realising a $0.9 million gain, and recognised $19.5 million of impairments on six assets. Book equity fell to $729 million from $765 million at year-end; net asset value per share declined roughly 5%. The REIT owns 66 operating properties (7.6 m sq ft) and six non-operating assets and continues pivoting away from traditional office toward specialised government, medical and lab space. Nevertheless, Q2 vacant-property operating expenses were $3.9 million and leasing commitments total $69 million, underscoring ongoing pressure on liquidity and earnings.
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