Every 10-Q that Orion Properties Inc. (ONL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ONL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ONL filings page.
Orion Properties Inc., a suburban-focused office REIT, reported a swing to profitability for the quarter ended June 30, 2026. Net income attributable to common stockholders was 24,579 thousand, or $0.42 per diluted share, compared with a loss of 25,103 thousand a year earlier. The change was driven mainly by a 28,826 thousand gain on disposition of eight properties with aggregate gross sales price of 70,600 thousand and much lower impairment charges, alongside lower rental revenue compared with the prior-year period.
For the first six months of 2026, net income attributable to common stockholders was 11,001 thousand and net cash provided by operating activities was 8,355 thousand. The company acquired a 75,000 square foot flex or R&D facility in Illinois for a gross 15.0 million and sold a total of 10 properties for 83,700 thousand. At June 30, 2026, Orion reported total assets of 1,140,075 thousand, mortgages payable outstanding of 334,598 thousand and borrowings of 102,000 thousand on its New Revolving Facility, with a weighted average effective interest rate of 5.37%.
Orion refinanced its prior revolving credit facility with a 215.0 million secured New Revolving Facility at a reduced spread and extended the maturity of its 4.971% CMBS Loan to February 11, 2029, while agreeing to sweep excess cash flows into debt repayment and an all-purpose reserve. The unconsolidated joint venture remains in payment default on 125.6 million of non-recourse mortgage debt, and Orion has written its equity investment to zero and fully reserved the related Member Loan.
Orion Properties Inc. reported a net loss attributable to common stockholders of $13.6 million for the three months ended March 31, 2026, compared with a loss of $9.4 million a year earlier. Total revenues declined to $36.3 million from $38.0 million, mainly reflecting lower rental income in a challenged office market.
Operating results were pressured by $6.3 million of real estate impairment charges versus $1.7 million in the prior-year period and a basic and diluted net loss per share of $0.24 versus $0.17. Net cash used in operating activities was $7.7 million, while Orion continued to invest in and reshape its portfolio.
During the quarter, the company acquired a 75,000 square foot flex/R&D facility in Illinois for a gross price of $15.0 million and closed on the sale of two previously impaired properties for an aggregate gross sales price of $13.1 million. As of March 31, 2026, Orion owned 59 operating properties totaling 6.6 million leasable square feet with 83.1% occupancy and annualized base rent of $115.2 million.
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. (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.