Thoughts on the Realty Income Corp Spinoff

Realty Income Corp. (O) recently completed a merger with VEREIT. After the merger, O spun the office building portion of the REIT into a new entity named Orion Office REIT Inc. (ONL). Shareholders of O received 1 share of ONL for every 10 shares of O.

As stated above, ONL is an office REIT. This space does look overly attractive to me. The recent surge in work from home for many has reduced the need for office space. This space should rebound some in the near term, but for the long term it could be a struggle to thrive in this space.

In my case, I received 5 shares of ONL. This amounts to a little over $100 of “free” stock that I received. This is a very small part of my portfolio. I will be selling my shares of ONL. I am not excited about the sector it is in. I have a lot of exposure to REITs already in my portfolio. I do not want to add another position for me to monitor.

ONL may turn out to be a fine investment over the long term, but for me it just does not make sense at this time. It does not fit into my investing plan. I feel I could make better use of the money by investing it elsewhere. What are your thoughts on ONL? Do you plan to hold or sell?

On a side note, I have added a Recommended Resources in the menu. It currently is a work in progress. It will contain blogs and YouTube channels that I enjoy as well as some sites that I use. I hope you take the time to check it out.

*Disclaimer – I am not a financial professional. The information shared here should not be considered financial advice. I am just a factory worker sharing my experience as I strive to achieve financial freedom. Before investing or making any financial decision do your own research and due diligence or consider seeking the advice of a financial and/or tax professional.

Here are some of the businesses that I use that I thought some of you might be interested in.

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Lolli has a variety of stores that it is affiliated with and offers rewards for shopping at these stores. I use Lolli when I shop on Chewy and I get bitcoin as a reward. Who doesn’t want free bitcoin! If you are interested in Lolli and want to help support the blog here is my referral link: https://www.lolli.com/share/XP7gxDgqC4

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https://m1.finance/ktIiFeOI5zDr

I use M1 Finance for my taxable growth account. M1 Finance offers promotions for signing up. At the time of writing this post, the promotion is for $30. These promotions vary from time to time but is usually a $10 bonus. If you are interested in M1 Finance and want to support the blog here is my referral link: https://m1.finance/ktIiFeOI5zDr

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Varo Bank is one of the banks that I use. From time to time the bank will run promotions. Currently, you can earn up to 3% on your savings with Varo, if you meet certain requirements. If you are interested in checking it out, here is my referral link: https://bank.varomoney.com/signup?r=William360

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I use the free version on trackyourdividends.com. This is a quick an easy way for me to track my estimated annual income from dividends.

If you use the referral links listed above I could receive compensation. Please take the time to read the terms and conditions before signing up.

Published by Bill

I am just a blue collar factory worker trying to reach financial independence by spending less, earning more, saving and investing.

3 thoughts on “Thoughts on the Realty Income Corp Spinoff

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