ONL
Orion Properties Inc.
REIT - Office
Market Cap$161M
5Y Perf.-84.0%
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Stock Comparison
ONL vs HIW vs PDM vs DEA vs PGRE
Revenue, margins, valuation, and 5-year total return — side by side.
HIW
Highwoods Properties, Inc.
REIT - Office
Market Cap$2.82B
5Y Perf.-40.8%
PDM
Piedmont Office Realty Trust, Inc.
REIT - Office
Market Cap$1.06B
5Y Perf.-51.2%
DEA
Easterly Government Properties, Inc.
REIT - Office
Market Cap$1.08B
5Y Perf.-55.6%
PGRE
Paramount Group, Inc.
REIT - Office
Market Cap$1.46B
5Y Perf.-17.2%
ONL vs HIW vs PDM vs DEA vs PGRE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ONL | HIW | PDM | DEA | PGRE |
|---|---|---|---|---|---|
| Industry | REIT - Office | REIT - Office | REIT - Office | REIT - Office | REIT - Office |
| Market Cap | $161M | $2.82B | $1.06B | $1.08B | $1.46B |
| Revenue (TTM) | $146M | $820M | $422M | $344M | $723M |
| Net Income (TTM) | $-144M | $93M | $-86M | $15M | $-97M |
| Gross Margin | 56.7% | 67.4% | 19.1% | 49.7% | 57.2% |
| Operating Margin | -68.8% | 25.6% | 13.9% | 24.9% | 14.7% |
| Forward P/E | — | 39.6x | — | 69.5x | — |
| Total Debt | $482M | $3.64B | $2.27B | $1.68B | $3.68B |
| Cash & Equiv. | $22M | $27M | $731K | $23M | $375M |
ONL vs HIW vs PDM vs DEA vs PGRE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ONL
HIW
PDM
DEA
PGRE
| Stock | Nov 21 | May 26 | Return |
|---|---|---|---|
| Orion Properties In… (ONL) | 100 | 16.0 | -84.0% |
| Highwoods Propertie… (HIW) | 100 | 59.2 | -40.8% |
| Piedmont Office Rea… (PDM) | 100 | 48.8 | -51.2% |
| Easterly Government… (DEA) | 100 | 44.4 | -55.6% |
| Paramount Group, In… (PGRE) | 100 | 82.8 | -17.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ONL vs HIW vs PDM vs DEA vs PGRE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HIW leads in 3 of 7 categories (5-stock set), making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Easterly Government Properties, Inc. is the stronger pick specifically for growth and revenue expansion and dividend income and shareholder returns. ONL and PGRE also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
ONL
Orion Properties Inc.
The Real Estate Income Play
ONL ranks third and is worth considering specifically for momentum.
- +46.7% vs HIW's -5.2%
Best for: momentum
HIW
Highwoods Properties, Inc.
The Real Estate Income Play
HIW carries the broadest edge in this set and is the clearest fit for long-term compounding and defensive.
- -6.8% 10Y total return vs DEA's -8.7%
- Beta 0.76, yield 7.7%, current ratio 42.45x
- Better valuation composite
- 11.4% margin vs ONL's -98.4%
Best for: long-term compounding and defensive
PDM
Piedmont Office Realty Trust, Inc.
The REIT Holding
Among these 5 stocks, PDM doesn't own a clear edge in any measured category.
Best for: real estate exposure
DEA
Easterly Government Properties, Inc.
The Real Estate Income Play
DEA is the #2 pick in this set and the best alternative if income & stability is your priority.
- Dividend streak 0 yrs, beta 0.51, yield 9.0%
- 11.3% FFO/revenue growth vs ONL's -10.4%
- 9.0% yield, vs HIW's 7.7%
Best for: income & stability
PGRE
Paramount Group, Inc.
The Real Estate Income Play
PGRE is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth 2.0%, EPS growth 82.5%, 3Y rev CAGR 1.4%
- Lower volatility, beta 0.31, Low D/E 91.7%, current ratio 7.76x
- Beta 0.31 vs ONL's 1.28
Best for: growth exposure and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | DEA | 11.3% FFO/revenue growth vs ONL's -10.4% |
| Value | HIW | Better valuation composite |
| Quality / Margins | HIW | 11.4% margin vs ONL's -98.4% |
| Stability / Safety | PGRE | Beta 0.31 vs ONL's 1.28 |
| Dividends | DEA | 9.0% yield, vs HIW's 7.7% |
| Momentum (1Y) | ONL | +46.7% vs HIW's -5.2% |
| Efficiency (ROA) | HIW | 1.5% ROA vs ONL's -11.8%, ROIC 2.7% vs -6.2% |
ONL vs HIW vs PDM vs DEA vs PGRE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2025
FY 2024
ONL vs HIW vs PDM vs DEA vs PGRE — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLHIWLAGGINGPGRE
Who Leads Where
HIW leads in 2 of 6 categories
ONL leads 1 • DEA leads 1 • PDM leads 0 • PGRE leads 0 • 2 tied
Explore the data ↓PGREParamount Group, Inc.
0leads
PDMPiedmont Office Realt…
0leads
DEAEasterly Government P…
1leads
ONLOrion Properties Inc.
1leads
HIWHighwoods Properties,…
2leads
6 Total Categories
CATEGORYLEADERvs ONLvs DEAMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
HIW3/6
Valuation MetricsMultiples, price ratios, and targets
ONL2/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HIW4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
DEA1/1
Income & Cash Flow (Last 12 Months)
HIW leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HIW is the larger business by revenue, generating $820M annually — 5.6x ONL's $146M. HIW is the more profitable business, keeping 11.4% of every revenue dollar as net income compared to ONL's -98.4%. On growth, DEA holds the edge at +10.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $146M | $820M | $422M | $344M | $723M |
| EBITDAEarnings before interest/tax | -$45M | $511M | $229M | $203M | $342M |
| Net IncomeAfter-tax profit | -$144M | $93M | -$86M | $15M | -$97M |
| Free Cash FlowCash after capex | -$28M | $318M | $47M | $262M | $165M |
| Gross MarginGross profit ÷ Revenue | +56.7% | +67.4% | +19.1% | +49.7% | +57.2% |
| Operating MarginEBIT ÷ Revenue | -68.8% | +25.6% | +13.9% | +24.9% | +14.7% |
| Net MarginNet income ÷ Revenue | -98.4% | +11.4% | -20.5% | +4.3% | -13.5% |
| FCF MarginFCF ÷ Revenue | -19.2% | +38.7% | +11.2% | +76.2% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -4.6% | +6.8% | -100.0% | +10.6% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -41.2% | -67.8% | -23.0% | -55.4% | -191.5% |
HIW leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
ONL leads this category, winning 2 of 6 comparable metrics.
Valuation Metrics
At 17.6x trailing earnings, HIW trades at a 78% valuation discount to DEA's 80.3x P/E. On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than DEA's 13.9x.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| Market CapShares × price | $161M | $2.8B | $1.1B | $1.1B | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $621M | $6.4B | $3.3B | $2.7B | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | -1.15x | 17.63x | -12.67x | 80.31x | -31.43x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 39.58x | — | 69.52x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | 12.75x | 10.88x | 13.85x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 1.09x | 3.50x | 1.88x | 3.21x | 1.93x |
| Price / BookPrice ÷ Book value/share | 0.26x | 1.16x | 0.71x | 0.77x | 0.36x |
| Price / FCFMarket cap ÷ FCF | — | 16.93x | — | 4.16x | 5.53x |
ONL leads this category, winning 2 of 6 comparable metrics.
Profitability & Efficiency
HIW leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
HIW delivers a 3.8% return on equity — every $100 of shareholder capital generates $4 in annual profit, vs $-22 for ONL. ONL carries lower financial leverage with a 0.77x debt-to-equity ratio, signaling a more conservative balance sheet compared to PDM's 1.52x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs DEA's 4/9, reflecting strong financial health.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -21.9% | +3.8% | -5.7% | +1.1% | -2.4% |
| ROA (TTM)Return on assets | -11.8% | +1.5% | -2.2% | +0.4% | -1.2% |
| ROICReturn on invested capital | -6.2% | +2.7% | +1.5% | +2.1% | +1.5% |
| ROCEReturn on capital employed | -8.5% | +3.5% | +2.0% | +3.6% | +1.9% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 | 5 | 4 | 7 |
| Debt / EquityFinancial leverage | 0.77x | 1.49x | 1.52x | 1.23x | 0.92x |
| Net DebtTotal debt minus cash | $460M | $3.6B | $2.3B | $1.7B | $3.3B |
| Cash & Equiv.Liquid assets | $22M | $27M | $731,000 | $23M | $375M |
| Total DebtShort + long-term debt | $482M | $3.6B | $2.3B | $1.7B | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | -3.41x | 2.07x | 0.35x | 1.18x | 0.95x |
HIW leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — ONL and HIW and PGRE each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HIW five years ago would be worth $7,995 today (with dividends reinvested), compared to $1,656 for ONL. Over the past 12 months, ONL leads with a +46.7% total return vs HIW's -5.2%. The 3-year compound annual growth rate (CAGR) favors PGRE at 14.9% vs ONL's -16.4% — a key indicator of consistent wealth creation.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +26.5% | +0.7% | +2.4% | +13.5% | — |
| 1-Year ReturnPast 12 months | +46.7% | -5.2% | +26.5% | +25.0% | +38.7% |
| 3-Year ReturnCumulative with dividends | -41.5% | +44.3% | +47.5% | -16.2% | +51.6% |
| 5-Year ReturnCumulative with dividends | -83.4% | -20.1% | -39.2% | -37.0% | -30.5% |
| 10-Year ReturnCumulative with dividends | -83.4% | -6.8% | -23.4% | -8.7% | -46.2% |
| CAGR (3Y)Annualised 3-year return | -16.4% | +13.0% | +13.8% | -5.7% | +14.9% |
Evenly matched — ONL and HIW and PGRE each lead in 2 of 6 comparable metrics.
Risk & Volatility
Evenly matched — DEA and PGRE each lead in 1 of 2 comparable metrics.
Risk & Volatility
PGRE is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than ONL's 1.28 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DEA currently trades 93.4% from its 52-week high vs HIW's 78.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.28x | 0.76x | 1.08x | 0.51x | 0.31x |
| 52-Week HighHighest price in past year | $3.05 | $32.76 | $9.19 | $24.94 | $7.85 |
| 52-Week LowLowest price in past year | $1.63 | $20.45 | $6.32 | $19.82 | $4.48 |
| % of 52W HighCurrent price vs 52-week peak | +93.1% | +78.0% | +92.4% | +93.4% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 69.0 | 69.6 | 67.0 | 54.0 | 56.8 |
| Avg Volume (50D)Average daily shares traded | 322K | 1.3M | 1.1M | 381K | 1.5M |
Evenly matched — DEA and PGRE each lead in 1 of 2 comparable metrics.
Analyst Outlook
DEA leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: ONL as "Buy", HIW as "Hold", PDM as "Hold", DEA as "Hold", PGRE as "Hold". Consensus price targets imply 81.8% upside for PGRE (target: $12) vs -29.5% for DEA (target: $16). For income investors, DEA offers the higher dividend yield at 9.01% vs PGRE's 1.59%.
| Metric | ONLOrion Properties … | HIWHighwoods Propert… | PDMPiedmont Office R… | DEAEasterly Governme… | PGREParamount Group, … |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Hold | Hold | Hold |
| Price TargetConsensus 12-month target | — | $27.00 | $10.00 | $16.41 | $12.00 |
| # AnalystsCovering analysts | 4 | 22 | 11 | 8 | 13 |
| Dividend YieldAnnual dividend ÷ price | +5.6% | +7.7% | +2.9% | +9.0% | +1.6% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 0 | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.16 | $1.96 | $0.25 | $2.10 | $0.11 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.4% | +0.1% | 0.0% | 0.0% | +0.0% |
DEA leads this category, winning 1 of 1 comparable metric.
Key Takeaway
HIW leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). ONL leads in 1 (Valuation Metrics). 2 tied.
Best OverallHighwoods Properties, Inc. (HIW)Leads 2 of 6 categories
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ONL vs HIW vs PDM vs DEA vs PGRE: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is ONL or HIW or PDM or DEA or PGRE a better buy right now?
For growth investors, Easterly Government Properties, Inc.
(DEA) is the stronger pick with 11. 3% revenue growth year-over-year, versus -10. 4% for Orion Properties Inc. (ONL). Highwoods Properties, Inc. (HIW) offers the better valuation at 17. 6x trailing P/E (39. 6x forward), making it the more compelling value choice. Analysts rate Orion Properties Inc. (ONL) a "Buy" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ONL or HIW or PDM or DEA or PGRE?
On trailing P/E, Highwoods Properties, Inc.
(HIW) is the cheapest at 17. 6x versus Easterly Government Properties, Inc. at 80. 3x. On forward P/E, Highwoods Properties, Inc. is actually cheaper at 39. 6x.
03Which is the better long-term investment — ONL or HIW or PDM or DEA or PGRE?
Over the past 5 years, Highwoods Properties, Inc.
(HIW) delivered a total return of -20. 1%, compared to -83. 4% for Orion Properties Inc. (ONL). Over 10 years, the gap is even starker: HIW returned -6. 8% versus ONL's -83. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ONL or HIW or PDM or DEA or PGRE?
By beta (market sensitivity over 5 years), Paramount Group, Inc.
(PGRE) is the lower-risk stock at 0. 31β versus Orion Properties Inc. 's 1. 28β — meaning ONL is approximately 312% more volatile than PGRE relative to the S&P 500. On balance sheet safety, Orion Properties Inc. (ONL) carries a lower debt/equity ratio of 77% versus 152% for Piedmont Office Realty Trust, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — ONL or HIW or PDM or DEA or PGRE?
By revenue growth (latest reported year), Easterly Government Properties, Inc.
(DEA) is pulling ahead at 11. 3% versus -10. 4% for Orion Properties Inc. (ONL). On earnings-per-share growth, the picture is similar: Paramount Group, Inc. grew EPS 82. 5% year-over-year, compared to -37. 0% for Easterly Government Properties, Inc.. Over a 3-year CAGR, DEA leads at 4. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ONL or HIW or PDM or DEA or PGRE?
Highwoods Properties, Inc.
(HIW) is the more profitable company, earning 19. 8% net margin versus -94. 4% for Orion Properties Inc. — meaning it keeps 19. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HIW leads at 26. 0% versus -65. 4% for ONL. At the gross margin level — before operating expenses — HIW leads at 67. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ONL or HIW or PDM or DEA or PGRE more undervalued right now?
On forward earnings alone, Highwoods Properties, Inc.
(HIW) trades at 39. 6x forward P/E versus 69. 5x for Easterly Government Properties, Inc. — 29. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PGRE: 81. 8% to $12. 00.
08Which pays a better dividend — ONL or HIW or PDM or DEA or PGRE?
All stocks in this comparison pay dividends.
Easterly Government Properties, Inc. (DEA) offers the highest yield at 9. 0%, versus 1. 6% for Paramount Group, Inc. (PGRE).
09Is ONL or HIW or PDM or DEA or PGRE better for a retirement portfolio?
For long-horizon retirement investors, Paramount Group, Inc.
(PGRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 31), 1. 6% yield). Both have compounded well over 10 years (PGRE: -46. 2%, ONL: -83. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ONL and HIW and PDM and DEA and PGRE?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: ONL is a small-cap income-oriented stock; HIW is a small-cap deep-value stock; PDM is a small-cap quality compounder stock; DEA is a small-cap income-oriented stock; PGRE is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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