Another spinoff to watch
Realty Income (O) bought Vereit and will spin off the office properties in a separately traded stock called Orion in early Nov. I think the new symbol will be OCL. As with many spinoffs, I expect the O shareholders will start to dump the shares of OCL when they get them in mid-November and maybe through the end of the year. That will likely hammer the stock price of OCL.
I'm sure some writer on SA will do a piece on the numbers once the spin occurs. Readers on this board are probably not interested in an office property REIT given the work-from-home trend. I don't know where OCL's properties are, but they said they are targeting sun-belt communities with net-lease properties that must be filled because of what they do. I wouldn't normally be interested in office REITs either, but we saw what happened with CIO (granted they own lab facility buildings which are in demand).
I'll try to dig into some of VEREITs filings to see if there is other info on the type of properties, but the play here is to watch the stock price get beaten way down similarly what happened to DTM just because investors don't want to own a stub piece in a new entity.