FrontView REIT, Inc. (FVR)
NYSE:FVR
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FrontView REIT, Inc.
(NYSE:FVR)
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Rating:70Outperform
Price Target:
$19.50
▲(12.98% Upside)
Action:Upgraded
Date:06/02/26
The score is driven primarily by improved fundamentals (strong cash generation and a materially strengthened balance sheet) and a constructive earnings outlook (raised AFFO guidance with high occupancy and diversification progress). Offsetting these positives are mixed/volatile GAAP profitability (including recent negative gross profit) and valuation limitations from a negative P/E, while technicals are supportive but not strongly bullish.
Positive Factors
Balance sheet strength and deleveraging
FrontView materially reduced leverage from very high levels to very low levels by 2025/TTM, and equity is sizable versus assets. This sustained capital structure repair increases financial flexibility for acquisitions, dispositions, and dividend support, lowering refinancing and liquidity risk over the coming months.
Negative Factors
Volatile profitability and negative gross profit periods
Despite revenue growth and high EBITDA margins, the company reported negative net results and intermittent negative gross profit in recent periods. Persistent earnings volatility undermines returns on equity and indicates that operational improvements have yet to consistently translate into sustainable GAAP profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength and deleveraging
FrontView materially reduced leverage from very high levels to very low levels by 2025/TTM, and equity is sizable versus assets. This sustained capital structure repair increases financial flexibility for acquisitions, dispositions, and dividend support, lowering refinancing and liquidity risk over the coming months.
Read all positive factors
FrontView REIT, Inc. (FVR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$529.25M
Dividend Yield5.74%
Average Volume (3M)117.39K
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees15
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)-0.14
Shares Outstanding22,652,027
10 Day Avg. Volume114,729
30 Day Avg. Volume117,387
Financial Highlights & Ratios
PEG Ratio0.87
Price to Book (P/B)0.75
Price to Sales (P/S)4.34
P/FCF Ratio6.92
Enterprise Value/Market Cap0.77
Enterprise Value/Revenue5.89
Enterprise Value/Gross Profit-18.32
Enterprise Value/Ebitda7.91
Forecast
1Y Price Target
$18.88Price Target Upside9.36% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$72.94M
FrontView REIT, Inc. Business Overview & Revenue Model
Company Description
FrontView REIT's core business revolves around property investment....
How the Company Makes Money
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FrontView REIT, Inc. Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call emphasized multiple operational and portfolio-quality improvements: strong, accretive acquisitions, elevated occupancy (~99%), meaningful diversification gains (largest tenant 3.1%, top-10 at 23%), sequential revenue growth (+$0.7M QoQ), improved margins and balance sheet metrics, and raised AFFO guidance (to $1.29–$1.33). Short-term headwinds are manageable and largely timing-related—re-tenanting drag (~$700k run-rate gap to Q2), a small watch list with an expected ~50 bps bad debt cushion, and ongoing targeted dispositions ($40M–$50M). Overall, highlights substantially outweigh lowlights, with forward-looking initiatives (disciplined development, detailed disclosures, and conservative payout) positioned to support sustainable growth.Positive Updates
Strong Acquisition Activity and Attractive Yields
Acquired 10 properties for $34.0M in Q1 at an average cash cap rate of 7.5% and a weighted average lease term of 9.4 years; median purchase price $2.3M and median rent per box $170,000. Management expects Q2 cap rates ~7.3%–7.4% and maintains a fully funded net investment target of $100M.
Negative Updates
Temporary NOI Drag from Re-Tenantings
Q1 benefited from termination income, re-tenanting activity and low property cost leakage; after normalizing for these items, Q2 run-rate cash NOI on the current portfolio is estimated at ~$15.7M—approximately $700,000 lower than Q1 actuals—creating short-term moderation in cadence.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Acquisition Activity and Attractive Yields
Acquired 10 properties for $34.0M in Q1 at an average cash cap rate of 7.5% and a weighted average lease term of 9.4 years; median purchase price $2.3M and median rent per box $170,000. Management expects Q2 cap rates ~7.3%–7.4% and maintains a fully funded net investment target of $100M.
Read all positive updates
Company Guidance
FrontView maintained a fully funded net investment target of $100.0M and raised full‑year AFFO per share guidance to $1.29–$1.33 (midpoint ≈ $1.31, ~5% YoY at midpoint, ~7% at the high end), reflecting strong Q1 operations (adjusted cash revenue $16.3M, +$0.707M sequentially; Q1 AFFO ≈ $0.34); Q1 activity included 10 acquisitions for $34M at an average cash cap rate of 7.5% (WALT 9.4 years, median purchase $2.3M, median rent/box $170k, weighted Placer.ai score 26) and dispositions expected $40M–$50M for the year; normalized Q2 run‑rate cash NOI is ~$15.7M (≈$0.7M below Q1 after removing episodic items), Q2 acquisition cap rates are expected to settle ~7.3%–7.4%, and bad debt is modeled near ~50 bps; balance‑sheet metrics include revolver $114M, cash interest expense $3.8M, net debt/annualized adjusted EBITDAre 5.3x (4.4x including $50M preferred capacity), LTV 32.6%, fixed charge coverage 3.5x, and a quarterly dividend of $0.215 (AFFO payout 63.2%, the lowest since IPO).FrontView REIT, Inc. Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 69.06M | 67.11M | 59.92M | 48.27M | 39.86M | 33.90M |
| Gross Profit | -22.20M | -8.84M | 47.32M | 36.69M | 30.81M | 27.07M |
| EBITDA | 51.40M | 45.91M | 23.21M | 30.42M | 29.98M | 25.87M |
| Net Income | -2.52M | -3.83M | -22.21M | -1.10M | -4.47M | -2.80M |
Balance Sheet | ||||||
| Total Assets | 869.77M | 854.44M | 821.81M | 772.01M | 626.79M | 34.99M |
| Cash, Cash Equivalents and Short-Term Investments | 9.29M | 13.52M | 5.09M | 11.60M | 41.08M | 552.18K |
| Total Debt | 14.17M | 14.47M | 281.27M | 453.87M | 298.93M | 0.00 |
| Total Liabilities | 355.61M | 361.22M | 299.13M | 574.94M | 311.10M | 3.17M |
| Stockholders Equity | 418.08M | 391.19M | 324.82M | 197.07M | 217.30M | 31.82M |
Cash Flow | ||||||
| Free Cash Flow | 41.13M | 42.13M | 20.51M | 17.14M | 23.10M | 16.73M |
| Operating Cash Flow | 41.14M | 42.13M | 20.53M | 17.22M | 23.10M | 16.79M |
| Investing Cash Flow | -34.76M | -56.30M | -97.17M | -93.81M | -82.20M | -149.18M |
| Financing Cash Flow | -394.00K | 22.59M | 64.61M | 52.64M | 68.30M | 138.75M |
FrontView REIT, Inc. Technical Analysis
Positive
17.26
Price Trends
17.25
Positive
16.64
Positive
15.19
Positive
Market Momentum
0.26
Negative
67.59
Neutral
76.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FVR, the sentiment is Positive. The current price of 17.26 is below the 20-day moving average (MA) of 17.90, above the 50-day MA of 17.25, and above the 200-day MA of 15.19, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 67.59 is Neutral, neither overbought nor oversold. The STOCH value of 76.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FVR.
FrontView REIT, Inc. Risk Analysis
FrontView REIT, Inc. disclosed 98 risk factors in its most recent earnings report. FrontView REIT, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
FrontView REIT, Inc. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $529.25M | -166.65 | -0.64% | 5.74% | ― | ― | |
68 Neutral | $693.24M | 47.15 | 2.49% | 8.56% | 17.17% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $524.76M | 21.04 | 8.11% | 9.03% | 10.12% | -7.92% | |
63 Neutral | $188.41M | 1,238.25 | 0.09% | 8.15% | -0.62% | -380.05% | |
62 Neutral | $621.92M | 28.49 | 9.74% | 11.56% | 9.64% | -38.93% |
* Real Estate Sector Average
FVR
FrontView REIT, Inc.
18.99
7.78
69.36%
CTO
CTO Realty Growth
20.62
3.23
18.56%
GOOD
Gladstone Commercial
12.53
-0.77
-5.79%
OLP
One Liberty Properties
24.17
0.77
3.30%
MDV
Modiv
18.39
5.21
39.56%
FrontView REIT, Inc. Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
FrontView REIT Highlights Portfolio Upgrades and Governance Enhancements
Positive
Jun 1, 2026
On June 1, 2026, FrontView REIT, Inc. provided an update alongside NAREIT’s REITweek 2026, highlighting that through May 31 it had acquired four properties for $11.9 million at a 7.5% cash yield and a 10.3-year weighted average lease term, w...
Business Operations and StrategyExecutive/Board Changes
FrontView REIT Adds Experienced Independent Director to Board
Positive
May 28, 2026
FrontView REIT, Inc., a U.S.-listed net-lease real estate investment trust, concentrates on prominent frontage properties in high-traffic retail corridors, emphasizing adaptable formats that can serve multiple business types over time. Its diversi...
Executive/Board ChangesShareholder Meetings
FrontView REIT Stockholders Approve Directors and Auditor Slate
Positive
May 27, 2026
FrontView REIT, Inc. held its 2026 Annual Meeting of Stockholders on May 27, 2026, with 22,408,121 common shares eligible to vote as of the April 2 record date. Shareholders were asked to elect seven directors to the board to serve until the 2027 ...
Business Operations and StrategyDividendsFinancial Disclosures
FrontView REIT Raises 2026 AFFO Outlook on Strong Q1
Positive
May 6, 2026
FrontView REIT reported first-quarter 2026 results on May 6, 2026, highlighting revenue growth to $18.2 million, a swing to positive net income of $0.4 million, and higher FFO and AFFO per share versus a year earlier. Management cited strong prope...
Business Operations and StrategyFinancial Disclosures
FrontView REIT Reports Q1 Acquisitions and Dispositions Progress
Positive
Apr 6, 2026
On April 6, 2026, FrontView REIT, Inc. reported that in the first quarter it acquired 10 properties for $33.9 million with a 7.49% cash yield, an average lease term of 9.4 years and 1.5% annual rent escalators. Over the same period it sold five pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.