FrontView REIT downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Ronald Kamdem downgraded FrontView REIT (FVR) to Equal Weight from Overweight with a price target of $13.50, down from $17. The analyst has “incremental caution” on dollar stores, pet supplies. and off-price retail heading into the Q2 reports for the triple net real estate investment trusts. It cites the unexpected management transition for the downgrade of FrontView and believes hitting economies of scale may take longer than expected.