ONL 8-K SEC Filing Analysis

Final — all horizons settled through T+60d

ONL ▲ +22.88% at T+60d

SHORT call ✗ call lost -22.88% · α vs SPY -10.10% · entry $2.43 → $2.98

Currently $2.79 · -15.05% from $2.43 entry (call sign-flipped)

Entry anchored
Mar 5, 03:59 PM ET
via Databento tick

T+1d

+0.82%

call -0.82% · α +0.03%

$2.44

settled 3mo ago

T+5d

-5.31%

call +5.31% · α +3.78%

$2.30

settled 3mo ago

T+20d

-7.63%

call +7.63% · α +5.59%

$2.24

settled 2mo ago

T+60d

+22.88%

call -22.88% · α -10.10%

$2.98

settled 12d ago

Price Chart

Loading chart...

Executive Summary

Orion Properties reported declining financial performance for 2025 with revenue down 10.5% YoY and Core FFO per share down 22.8% YoY, driven by asset sales and impairments. The company recorded a $5.9 million loan loss reserve and zeroed out its $16 million investment in a troubled joint venture facing debt maturity issues. While management highlighted leasing activity and portfolio transformation, the core financials show meaningful deterioration, and the strategic review process adds uncertainty.

Key Financial Metrics

Revenue

$147.6M

-10.5% YoY

EPS

$-2.48

Actionable Insight

The stock is likely to face downward pressure due to declining fundamentals and the joint venture crisis. The strategic review could lead to a sale, but the impaired balance sheet and portfolio shrinkage reduce its attractiveness. Traders should monitor the Arch Street Joint Venture situation closely, as a forced property sale or lender enforcement action would be a significant negative catalyst.

Key Facts

Full year 2025 revenue was $147.6 million, down 10.5% from $164.9 million in 2024
Full year 2025 Core FFO per share was $0.78, down 22.8% from $1.01 in 2024
Company recorded $5.9 million loan loss reserve and $11.8 million total impairment on Arch Street Joint Venture investment, writing it down to zero
Arch Street Joint Venture faces a $16 million prepayment requirement to extend maturing debt and is in default discussions with lenders
Company sold $80.7 million of properties in 2025 and acquired one $15 million asset, indicating portfolio shrinkage
2026 Core FFO guidance of $0.69-$0.76 per share is below 2025's $0.78, indicating expected further decline

Financial Impact

Revenue declined by $17.3 million year-over-year, Core FFO declined by $13.1 million year-over-year, and the company took a $17.7 million combined impairment and loan loss reserve on its joint venture investment.

revenueepscore ffodebtimpairment

Risk Factors

The Arch Street Joint Venture may default on its debt, leading to lender enforcement actions and forced asset sales.
The company's strategic review may not result in a favorable transaction, leaving it to operate with a weakened balance sheet.
Further declines in Core FFO and revenue are expected in 2026 based on guidance, pressuring the dividend.

Market Snapshot

Exchange

NYSE

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001873923-26-000037
Exhibit: exhibit992orionsupplemen.htm	0001873923-26-000037
Document: onl-20260305.htm	0001873923-26-000037
Document: 0001873923-26-000037-index-headers.html	0001873923-26-000037
Document: 0001873923-26-000037-index.html	0001873923-26-000037
Document: 0001873923-26-000037.txt	0001873923-26-000037

2 reports for ONL

T+1T+5T+20T+60

Filters

Reports for ONL — sortable, filterable
	Type				Now
Mar 20, 2026 12w ago	DEFA14A NEUTRAL ★ 2/10	$1.91 $2.48	▲ +29.82%	▲ +22.40%	$2.79 (+46.04%)
Mar 5, 2026 14w ago	8-K BEARISH ★ 8/10	$2.43 $2.24	▲ +7.63%	▲ +5.59%	$2.79 (−15.05%)

US Market Status

Market Closed — Opens Mon (48h 47m)

Get Real-Time SEC Filing Intelligence

Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.

Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access