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7 REITs to Sell in March Before They Crash & Burn
Shares in real estate investment trusts have bounced back in recent months, but as the commercial real estate space remains in a tough spot, there are still plenty of stocks in this category best described as REITs to sell. The main reason for this all has to do with the macro environment.
3 Risky Office REITs (Dumpster Fire Alert)
Some people make decent money dumpster diving, as seen in a Business Insider article about a couple who make up to $3,000 a month selling their trash treasures. The office REIT space is currently under tremendous pressure, reflected in the stock prices of three high-risk office plays: City Office REIT, Orion Office, and Net Lease Office Properties. These stocks offer value for investors willing to take on elevated risks, but caution is warranted due to the challenges facing the office real estate sector.
Orion Office REIT: Office Woes Bite Hard As Leverage Explodes
We shifted back to a sell rating on Orion Office due to increased office distress and doubts about the company's ability to out-earn its current enterprise value. Q4-2023 earnings showed a miss in funds from operations but there were bigger issues that came to light. We go over our logic of sticking with the sell rating despite the huge drop in stock price.
Orion Office REIT: The Downturn Continues
Orion Office REIT Inc. is a new company formed from the office properties of Realty Income and VEREIT upon their merger. The office sector is currently out of favor, but the need for office spaces will likely increase in the future. The stock price has been dropping, but spinoffs tend to outperform the market over time and the company has potential for long-term success.
It's Time! 3 Overplayed REITs to Sell in February
Real estate boom-and-bust cycles are repetitive, and I'm afraid that we look set for another. What's my premise?
3 Doomed REITs to Dump Before They Dive: February 2024
The upheavals of 2023 rattled the housing market, witnessing soaring mortgage rates and stalled sales. In short, it created uncertainty for real estate investment trusts (REITs).
Orion Office REIT Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release and Webcast Dates
PHOENIX--(BUSINESS WIRE)--Orion Office REIT Inc. (NYSE: ONL) (“Orion” or the “Company”), a fully-integrated real estate investment trust focused on the ownership, acquisition and management of single-tenant net lease office properties located across the U.S., announced today that it will release its operating results for the fourth quarter and full year 2023 after market close on Tuesday, February 27, 2024. Webcast and Conference Call Information Orion will host a webcast and conference call to.
Sell Alert: 2 REITs Getting Risky
I am very bullish on most REITs following their recent crash. But not all REITs are worth buying. Here are two risky REITs that I would consider selling.
Can My Portfolio's 3 Worst Stocks From 2023 Rebound in 2024?
Despite how strong the stock market grew in 2023, there were more than a few pockets of despair in the market. We know the S&P 500 was driven higher almost wholly on the strength of the Magnificent 7 stocks, but the Dow Jones Industrial Average and Nasdaq 100 also experienced superb gains.
Orion: 3 Reasons There Could Be Material Downside In 2024
We had previously upgraded Orion from a Sell to a Hold, as we saw the possibility of it out-earning its enterprise value. The fundamentals have actually worsened and the REIT looks to have a challenging 2024. We give you three reasons why you should consider exiting.
ONL Financial details
ONL Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2023-12-31
Metric | History | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 0.99 | 0.99 | 1.41 | 3.67 | 3.46 | |
Net income per share | 0.22 | -0.09 | -0.79 | -1.72 | -1.02 | |
Operating cash flow per share | 0.74 | 0.78 | 0.99 | 2.02 | 1.58 | |
Free cash flow per share | 0.73 | 0.77 | 0.82 | 1.81 | 1.25 | |
Cash per share | 0 | 0 | 0.52 | 0.36 | 0.4 | |
Book value per share | 9.38 | 9.18 | 19.19 | 17.21 | 15.7 | |
Tangible book value per share | 8.69 | 8.65 | 13.95 | 13.65 | 13.48 | |
Share holders equity per share | 9.38 | 9.18 | 19.19 | 17.21 | 15.7 | |
Interest debt per share | 1.36 | 0.74 | 11.33 | 10.07 | 11.01 | |
Market cap | 1.15B | 1.15B | 1.06B | 483.64M | 322.66M | |
Enterprise value | 1.22B | 1.19B | 1.67B | 1B | 777.12M | |
P/E ratio | 96.41 | -238.9 | -23.67 | -4.96 | -5.63 | |
Price to sales ratio | 21.58 | 21.58 | 13.26 | 2.32 | 1.65 | |
POCF ratio | 28.85 | 27.26 | 18.84 | 4.23 | 3.62 | |
PFCF ratio | 29.24 | 27.56 | 22.89 | 4.71 | 4.57 | |
P/B Ratio | 2.27 | 2.32 | 0.97 | 0.5 | 0.36 | |
PTB ratio | 2.27 | 2.32 | 0.97 | 0.5 | 0.36 | |
EV to sales | 22.89 | 22.27 | 20.89 | 4.82 | 3.98 | |
Enterprise value over EBITDA | 26.89 | 26.09 | 26.67 | 7.69 | 6.73 | |
EV to operating cash flow | 30.6 | 28.14 | 29.68 | 8.78 | 8.72 | |
EV to free cash flow | 31.02 | 28.45 | 36.05 | 9.78 | 11 | |
Earnings yield | 0.01 | 0 | -0.04 | -0.2 | -0.18 | |
Free cash flow yield | 0.03 | 0.04 | 0.04 | 0.21 | 0.22 | |
Debt to equity | 0.14 | 0.07 | 0.59 | 0.55 | 0.66 | |
Debt to assets | 0.12 | 0.07 | 0.36 | 0.34 | 0.41 | |
Net debt to EBITDA | 1.54 | 0.81 | 9.74 | 3.98 | 3.93 | |
Current ratio | 9.95 | 9.53 | 0.07 | 0.22 | 0.55 | |
Interest coverage | 5.61 | 6.72 | 4.34 | -0.03 | 0.18 | |
Income quality | 2.62 | -22.29 | -1.18 | -1.17 | -1.55 | |
Dividend Yield | 0.03 | 0.01 | 0.56 | 0.04 | 0.07 | |
Payout ratio | 3.14 | -1.86 | -13.14 | -0.17 | -0.39 | |
Sales general and administrative to revenue | 0.04 | 0.04 | 0.05 | 0.08 | 0.1 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0.06 | 0.05 | 0.17 | 0.13 | 0.09 | |
Capex to operating cash flow | -0.01 | -0.01 | -0.18 | -0.1 | -0.21 | |
Capex to revenue | -0.01 | -0.01 | -0.12 | -0.06 | -0.09 | |
Capex to depreciation | -0.02 | -0.02 | -0.23 | -0.09 | -0.17 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0.01 | 0.01 | |
Graham number | 6.83 | 4.29 | 18.46 | 25.81 | 18.94 | |
ROIC | 0.02 | 0.09 | 0.01 | 0 | 0 | |
Return on tangible assets | 0.02 | -0.01 | -0.03 | -0.07 | -0.04 | |
Graham Net | -1.43 | -0.8 | -11.1 | -9.84 | -8.74 | |
Working capital | 8.25M | 7.23M | -586.99M | -160.86M | -68.88M | |
Tangible asset value | 470.63M | 468.44M | 790.18M | 773.03M | 760.64M | |
Net current asset value | -75.03M | -41.24M | -623.96M | -550.43M | -453.75M | |
Invested capital | 0.14 | 0.07 | 0.59 | 0.55 | 0.66 | |
Average receivables | 0 | 8.62M | 13M | 19.78M | 25M | |
Average payables | 0 | 466.5K | 908.5K | 13.98M | 13.88M | |
Average inventory | 0 | 0 | -149.5K | 1.1M | 1.25M | |
Days sales outstanding | 62.59 | 55.14 | 82.02 | 37.95 | 53.08 | |
Days payables outstanding | 57 | 0.76 | 49.12 | 155.22 | 3.45 | |
Days of inventory on hand | 0 | 0 | -8.14 | 14.84 | 0 | |
Receivables turnover | 5.83 | 6.62 | 4.45 | 9.62 | 6.88 | |
Payables turnover | 6.4 | 480.83 | 7.43 | 2.35 | 105.79 | |
Inventory turnover | 0 | 0 | -44.86 | 24.59 | 0 | |
ROE | 0.02 | -0.01 | -0.04 | -0.1 | -0.06 | |
Capex per share | -0.01 | -0.01 | -0.18 | -0.21 | -0.33 |
Quarterly Fundamentals Overview
Last date of statement is 2023-12-31 for Q4
Metric | History | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 0.89 | 0.89 | 0.93 | 0.87 | 0.78 | |
Net income per share | -0.34 | -0.16 | -0.28 | -0.29 | -0.29 | |
Operating cash flow per share | 0.5 | 0.2 | 0.58 | 0.45 | 0.35 | |
Free cash flow per share | 0.43 | 0.15 | 0.51 | 0.35 | 0.25 | |
Cash per share | 0.48 | 24.24 | 24.36 | 23.91 | 0.4 | |
Book value per share | 17.2 | 16.92 | 16.67 | 16.06 | 15.88 | |
Tangible book value per share | 13.65 | 13.72 | 13.81 | 13.53 | 13.64 | |
Share holders equity per share | 17.2 | 16.92 | 16.67 | 16.06 | 15.88 | |
Interest debt per share | 9.67 | 9.64 | 9.71 | 9.63 | 10.64 | |
Market cap | 483.74M | 379.5M | 371.34M | 294.59M | 319.07M | |
Enterprise value | 1B | 894.76M | 867.64M | 799.47M | 773.53M | |
P/E ratio | -6.37 | -10.69 | -5.9 | -4.46 | -4.93 | |
Price to sales ratio | 9.62 | 7.56 | 7.14 | 6 | 7.29 | |
POCF ratio | 17.08 | 33.17 | 11.43 | 11.48 | 16.36 | |
PFCF ratio | 20.09 | 45.71 | 12.86 | 14.98 | 23.11 | |
P/B Ratio | 0.5 | 0.4 | 0.4 | 0.32 | 0.36 | |
PTB ratio | 0.5 | 0.4 | 0.4 | 0.32 | 0.36 | |
EV to sales | 19.95 | 17.83 | 16.68 | 16.29 | 17.68 | |
Enterprise value over EBITDA | 33.49 | 29.38 | 27.08 | 27.07 | 32.47 | |
EV to operating cash flow | 35.43 | 78.21 | 26.72 | 31.14 | 39.67 | |
EV to free cash flow | 41.65 | 107.76 | 30.05 | 40.65 | 56.04 | |
Earnings yield | -0.04 | -0.02 | -0.04 | -0.06 | -0.05 | |
Free cash flow yield | 0.05 | 0.02 | 0.08 | 0.07 | 0.04 | |
Debt to equity | 0.55 | 0.56 | 0.58 | 0.59 | 0.66 | |
Debt to assets | 0.34 | 0.35 | 0.35 | 0.36 | 0.41 | |
Net debt to EBITDA | 17.34 | 16.92 | 15.49 | 17.1 | 19.07 | |
Current ratio | 0.22 | 0.26 | 0.59 | 0.3 | 0.55 | |
Interest coverage | -0.07 | 0.32 | -1.09 | -1.26 | -0.25 | |
Income quality | -1.49 | -1.29 | -2.07 | -1.56 | -1.21 | |
Dividend Yield | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | |
Payout ratio | -0.3 | -0.64 | -0.36 | -0.34 | -0.35 | |
Sales general and administrative to revenue | 0.09 | 0.09 | 0.09 | 0.09 | 0.13 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0.13 | 0.12 | 0.11 | 0.1 | 0.09 | |
Capex to operating cash flow | -0.15 | -0.27 | -0.11 | -0.23 | -0.29 | |
Capex to revenue | -0.08 | -0.06 | -0.07 | -0.12 | -0.13 | |
Capex to depreciation | -0.14 | -0.11 | -0.13 | -0.22 | -0.22 | |
Stock based compensation to revenue | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | |
Graham number | 11.39 | 7.72 | 10.25 | 10.27 | 10.18 | |
ROIC | 0 | 0 | -0.01 | -0.01 | 0 | |
Return on tangible assets | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | |
Graham Net | -10.06 | 14.17 | 14.16 | 13.74 | -8.84 | |
Working capital | -160.86M | -148.82M | -82.52M | -148.13M | -68.88M | |
Tangible asset value | 773.03M | 777.32M | 775.84M | 764.96M | 760.64M | |
Net current asset value | -550.43M | -535.97M | -469.7M | -532.11M | -453.75M | |
Invested capital | 0.55 | 0.56 | 0.58 | 0.59 | 0.66 | |
Average receivables | 21.78M | 23.17M | 24.83M | 25.94M | 27.64M | |
Average payables | 13.55M | 23.06M | 10.51M | 15.82M | 16.09M | |
Average inventory | -17.99M | -20.26M | -3.78M | -1.51M | 0 | |
Days sales outstanding | 38.73 | 44.29 | 43.18 | 49.35 | 58.35 | |
Days payables outstanding | 149.53 | 117.06 | 6.17 | 177.43 | 3.57 | |
Days of inventory on hand | -205.64 | -26.63 | -17.59 | 0 | 0 | |
Receivables turnover | 2.32 | 2.03 | 2.08 | 1.82 | 1.54 | |
Payables turnover | 0.6 | 0.77 | 14.6 | 0.51 | 25.22 | |
Inventory turnover | -0.44 | -3.38 | -5.12 | 0 | 0 | |
ROE | -0.02 | -0.01 | -0.02 | -0.02 | -0.02 | |
Capex per share | -0.07 | -0.06 | -0.06 | -0.11 | -0.1 |
ONL Frequently Asked Questions
What is Orion Office REIT Inc. stock symbol ?
Orion Office REIT Inc. is a US stock , located in Phoenix of Az and trading under the symbol ONL
What is Orion Office REIT Inc. stock quote today ?
Orion Office REIT Inc. stock price is $3.515 today.
Is Orion Office REIT Inc. stock public?
Yes, Orion Office REIT Inc. is a publicly traded company.