** Shares of Orion Office REIT ONL.N down 30.4% at $2.68
** The real estate investment trust has reduced first-quarter dividend to $0.02 per share to save $17.9 mln annually, a decrease of 80% from $0.10 per share declared in Q4 2024
** Co expects core FY25 funds from operations (FFO), a key financial metric used by REITs, in the range of $0.61 to $0.70, lower than FY24 FFO of $1.01 per diluted share
** Co reports Q4 revenue of $38.4 mln, compared with $43.8 mln in the same quarter of 2023
** Co also announced a change in its corporate name to Orion Properties Inc from Orion Office REIT on March 5, to reflect its new investment strategy, ticker symbol 'ONL' to remain same
** ONL hits its lowest of all time on Thursday; stocks lost more than 35% on 2024
(Reporting by Sanchayaita Roy in Bengaluru)
((sanchayaita.roy@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.