Orion Office REIT: 75% Discount To NAV, What You Are Missing

• Street Targets Sure, leasing activity was not the worst we have seen from this company. We have bought a couple of value traps recently. These are two phenomenally cheap stocks which we freely admit are value traps. We estimate realistic liquidation value in both cases to be at least 5 times the current stock price. In neither case, we expect value to be realized in the medium term, as both management teams appear to be hunkering down for the twenty-fourth century. It is possible that value may never be r ...