Published on 27 Feb 2024 on GuruFocus.com via Yahoo Finance
Orion Office REIT Inc. Reports Mixed 2023 Results Amid Market Challenges
Total Revenues: $195.0 million for the full year 2023, down from $208.1 million in 2022.Net Loss: $(57.3) million, or $(1.02) per share for the full year 2023, improving from $(97.5) million, or $(1.72) per share in 2022.Core FFO: $94.8 million, or $1.68 per share for the full year 2023, compared to $108.2 million, or $1.91 per share in 2022.Leasing Activity: 261,000 square feet of leasing completed in Q4 2023 and an additional 95,000 square feet subsequent to year-end.Property Dispositions: Sold six properties for $25.4 million in 2023.Debt Repayment: Repaid $59.0 million in debt obligations during 2023.Dividend: Declared a dividend of $0.10 per share for the first quarter of 2024.
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