Tuesday, June 27, 2023
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
More Leasebacks. Orion Group Holdings announced that the Company has entered into two real estate sale-leaseback transactions for a total value of $20.3 million. The agreements are for the Company’s Baytown Pipe Yard property in Baytown, Texas and Port Lavaca South Yard property located in Port Lavaca, Texas.
Terms and Usage. The Baytown Pipe Yard property agreement is for $8.3 million and the transaction is expected to close no later than the fourth quarter of 2023. The Port Lavaca South Yard property agreement is for $12.0 million but no expectation on its closing was given. The usage of the proceeds for both the agreements will be to reduce debt and for general corporate purposes.
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