FrontView REIT downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded FrontView REIT (FVR) to Neutral from Overweight with a price target of $12, down from $14. The firm cites the company’s announcement that its co-CEO and CFO Randall Starr was terminated for cause, even though his termination is “unrelated to the Company’s business operations, financial results, or previously filed financial statements”, the analyst tells investors in a research note. The firm adds however that while it continues to see the FrontView portfolio being worth more than the current stock level, with limited ability to grow externally at this point and given its “bruised” C-suite, it is difficult for JPMorgan to recommend the stock.