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PHOENIX—Gary E. Landriau, Executive Vice President and Chief Investment Officer at Orion Properties Inc. (NYSE:ONL), has recently acquired a significant amount of the company’s stock. According to a recent SEC filing, Landriau purchased a total of 10,746 shares over two days, with the transactions taking place on March 12 and March 13. The insider purchase comes as InvestingPro data shows the stock trading near its 52-week low of $2.20, having declined over 15% in the past week alone.
The shares were acquired at prices ranging from $2.25 to $2.471 per share, resulting in a total investment of approximately $26,266. Following these transactions, Landriau now holds 94,324 shares of Orion Properties directly. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics, with strong fundamentals including a healthy current ratio of 2.39 and multiple low valuation multiples. Subscribers can access 15+ additional ProTips and comprehensive valuation analysis through the Pro Research Report.
These purchases reflect a continued confidence in Orion Properties, a real estate investment trust headquartered in Phoenix. The company, formerly known as Orion Office REIT Inc., specializes in real estate and construction. With a market capitalization of approximately $131 million, the stock has experienced significant pressure, declining over 41% in the past six months, potentially presenting an opportunity for value investors.
In other recent news, Orion Office Reit Inc. reported its fourth-quarter 2024 earnings, revealing a net loss of $103 million, or $1.84 per share, despite surpassing revenue forecasts with $38.4 million. The company is undergoing a strategic shift towards "Dedicated Use Assets" such as medical and lab facilities, aiming to stabilize tenant occupancy. Orion’s revenue decreased from $43.8 million in the same quarter of the previous year, reflecting challenges in the suburban office market. Leasing activity, however, showed significant improvement, with 1.1 million square feet leased in 2024, a substantial increase from the prior year.
The company’s guidance for 2025 projects core funds from operations (FFO) between $0.61 and $0.70 per share, with expectations of growth starting in 2027. Orion’s strategic shift includes selling traditional office properties and focusing on specialized assets, with a plan to increase the proportion of dedicated use assets over time. Despite the positive leasing momentum, Orion’s stock price fell sharply after the earnings announcement, reflecting investor concerns over its financial health. Analysts have noted the company’s ongoing financial challenges, with expectations of revenue and core FFO declines bottoming in 2025 and 2026.
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