Orion Properties Inc 2026年季度报告

FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended June30, 2026 ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _________ to __________ Commission file number: 001-40873 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for thepast 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T duringthe preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the ExchangeAct. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo There were 57,044,714 shares of common stock of Orion Properties Inc. outstanding as of July31, 2026. ORION PROPERTIES INC.For the quarterly period ended June30, 2026 PagePART IItem 1. Unaudited Financial Statements3Consolidated Balance Sheets as of June 30, 2026 and December 31, 20253Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026 and 20254Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2026and 20255Consolidated Statements of Equity for the Three and Six Months Ended June 30, 2026 and 20256Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 20257Notes to Consolidated Financial Statements9Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations28Item 3. Quantitative and Qualitative Disclosures About Market Risk51Item 4. Controls and Procedures52PART IIItem 1. Legal Proceedings53Item 1A. Risk Factors53Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities53Item 3. Defaults Upon Senior Securities53Item 4. Mine Safety Disclosures53Item 5. Other Information54Item 6. Exhibits54Signatures55 PART I — FINANCIAL INFORMATION ORION PROPERTIES INC.CONSOLIDATED BALANCE SHEETS(In thousands, except for share and per share data) (Unaudited) ORION PROPERTIES INC.CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except for per share data) (Unaudited) ORION PROPERTIES INC.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(In thousands) (Unaudited) ORION PROPERTIES INC.CONSOLIDATED STATEMENTS OF EQUITY(In thousands, except for share data) (Unaudited) ORION PROPERTIES INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) (Unaudited) ORION PROPERTIES INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSJune30, 2026 (Unaudited) Note 1 – Organization Organization Orion Properties Inc. (the “Company”, “Orion”, “we” or “us”) is an internally managed real estate investment trust (“REIT”) engagedin the ownership, acquisition, and management of a diversified portfolio of office properties located in high-quality suburban marketsacross the United States and leased primarily on a single-tenant net lease basis to creditworthy tenants. The Company’s portfolio iscomprised of traditional office properties, as well as governmental, medical office, flex/laboratory and R&D and flex/industrial properties.As part of its investment strategy, the Company intends to shift its portfolio concentration over time away from traditional officeproperties, towards more dedicated use assets with specialized uses that include an office component. The Company was initially formed as a wholly owned subsidiary of Realty Income Corporation (“Realty Income”). Followingcompletion of the merger transaction involving Realty Income and VEREIT, Inc. (“VEREIT”) on November1, 2021, Realty Incomecontributed the combined business comprising certain office real properties and related assets previously owned by subsidiaries of RealtyIncome, and certain office real properties and related assets previously owned by subsidiaries of VEREIT (the “Separation”), to theCompany and its operating partnership, Orion Properties LP (“Orion OP”), and on November12, 2021, effected a special