FrontView REIT, Inc. (FVR)
NYSE:FVR
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FrontView REIT, Inc.
(NYSE:FVR)
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Rating:71Outperform
Price Target:
$17.00
â–²(4.81% Upside)
Action:ReiteratedDate:04/07/26
The score is driven mainly by strong cash generation and an improved balance sheet, reinforced by a constructive earnings call with raised 2026 AFFO guidance and high occupancy. The rating is held back by inconsistent GAAP profitability/volatile margins, mixed near-term technical momentum, and a negative P/E despite an attractive dividend yield.
Positive Factors
Cash generation
Consistent and rising operating and free cash flow provides durable internal funding for debt service, dividends and accretive acquisitions. Strong cash conversion reduces refinancing risk, supports liquidity buffers and enables organic reinvestment even during cyclical revenue pressure.
Negative Factors
Inconsistent GAAP profitability
Persistent GAAP losses and swingy margins mean reported earnings lag cash returns, complicating investor confidence and retention of capital. Over time this can pressure equity returns, constrain share-based incentives and require continued reliance on strong cash metrics rather than stable net income.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent and rising operating and free cash flow provides durable internal funding for debt service, dividends and accretive acquisitions. Strong cash conversion reduces refinancing risk, supports liquidity buffers and enables organic reinvestment even during cyclical revenue pressure.
Read all positive factors
FrontView REIT, Inc. (FVR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$455.46M
Dividend Yield5.74%
Average Volume (3M)113.84K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees15
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)-0.19
Shares Outstanding22,313,005
10 Day Avg. Volume80,503
30 Day Avg. Volume113,837
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 Cap0.81
Enterprise Value/Revenue5.51
Enterprise Value/Gross Profit-41.81
Enterprise Value/Ebitda7.28
Forecast
1Y Price Target
$17.83Price Target Upside9.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$70.74M
FrontView REIT, Inc. Business Overview & Revenue Model
Company Description
FrontView REIT specializes in real estate investing....
How the Company Makes Money
null...
FrontView REIT, Inc. Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call emphasized multiple operational and financial strengths — near-99% occupancy, active and accretive acquisitions, strong liquidity, lower borrowing costs, successful asset management outcomes (notably large rent recoveries and re-leases), and upward AFFO guidance. Key negatives were a persistent market valuation discount to NAV, a few tenant bankruptcies (small ABR impact), nonrecurring legal/G&A charges and modest near-term AFFO growth. On balance, the positive operational results, balance sheet flexibility and demonstrated asset-management wins outweigh the challenges related to valuation and isolated credit events.Positive Updates
High Occupancy and Diversified Tenant Base
Portfolio occupancy approaching 99% with just 4 vacant assets; 321 leases with top 10 tenants accounting for only 24% of ABR and the largest tenant at 3.5%, demonstrating strong diversification and low single-tenant concentration.
Negative Updates
Market Valuation Discount / Share Price Dislocation
Company stock trading at a material discount to management's NAV; management cites an implied cap rate on the business of ~8.1% versus recent realized transaction cap rates in the high-6% range (e.g., median disposition cap rate ~6.9%), indicating persistent market valuation disconnect and limited inbound interest to date.
Read all updates
Q4-2025 Updates
Positive
Negative
High Occupancy and Diversified Tenant Base
Portfolio occupancy approaching 99% with just 4 vacant assets; 321 leases with top 10 tenants accounting for only 24% of ABR and the largest tenant at 3.5%, demonstrating strong diversification and low single-tenant concentration.
Read all positive updates
Company Guidance
FrontView raised 2026 AFFO guidance to $1.27–$1.32 per share (≈4% growth at the midpoint, 6% at the high end) after reporting $0.31 AFFO in Q4 and $1.25 for FY2025; management is fully funded to acquire $100M of net assets via a $75M convertible preferred (first $25M drawn) and expects Q1 acquisition cap rates near ~7.5% (mid‑7s), noting 2025 acquisitions of 32 properties for ~$124.1M at a 7.74% avg cash cap rate (weighted avg remaining lease term ~12.4 years) and Q4 acquisitions of 7 properties for ~$41.3M at a 7.5% avg cap (WART ~13.1 years); 2025 dispositions totaled 36 properties for ~$78M at a ~6.79% avg cash cap (median 6.9%, range 5.4%–8%; Q4 sales: 11 properties for ~$17.8M at ~6.82% avg cap), portfolio occupancy is ~99% (4 vacancies) with annualized base rent/ABR of $62.9M, 321 leases (top 10 = 24% of ABR; largest tenant = 3.5%), run‑rate cash revenue $16M ($64M annualized), annualized adjusted cash NOI $61.3M (96% margin) expected to expand to 97% (~$62M) with run‑rate quarterly cash NOI $15.5M, bad‑debt guide ≈50 bps for 2026, loan‑to‑value 34.5%, net debt/annualized adj. EBITDAre 5.6x today and expected <5.5x by year‑end, available liquidity $223M, revolver outstanding $115.5M ($100M hedged; hedged SOFR averages 3.35% in 2026), term loan rate 4.81%, Q4 interest expense $4.3M, cash G&A ex nonrecurring/SBC ≈$2.4M run‑rate, and a dividend payout ratio below 70%.FrontView REIT, Inc. Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
76
Positive
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 67.11M | 59.92M | 48.27M | 39.86M | 33.90M |
| Gross Profit | -8.84M | 47.32M | 36.69M | 30.81M | 27.07M |
| EBITDA | 45.91M | 23.21M | 30.42M | 29.98M | 25.87M |
| Net Income | -3.83M | -22.21M | -1.10M | -4.47M | -2.80M |
Balance Sheet | |||||
| Total Assets | 854.44M | 821.81M | 772.01M | 626.79M | 34.99M |
| Cash, Cash Equivalents and Short-Term Investments | 13.52M | 5.09M | 11.60M | 41.08M | 552.18K |
| Total Debt | 14.47M | 281.27M | 453.87M | 298.93M | 0.00 |
| Total Liabilities | 361.22M | 299.13M | 574.94M | 311.10M | 3.17M |
| Stockholders Equity | 391.19M | 324.82M | 197.07M | 217.30M | 31.82M |
Cash Flow | |||||
| Free Cash Flow | 42.13M | 20.51M | 17.14M | 23.10M | 16.73M |
| Operating Cash Flow | 42.13M | 20.53M | 17.22M | 23.10M | 16.79M |
| Investing Cash Flow | -56.30M | -97.17M | -93.81M | -82.20M | -149.18M |
| Financing Cash Flow | 22.59M | 64.61M | 52.64M | 68.30M | 138.75M |
FrontView REIT, Inc. Technical Analysis
Positive
16.22
Price Trends
15.94
Positive
15.43
Positive
13.97
Positive
Market Momentum
-0.04
Negative
58.97
Neutral
86.59
Negative
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 16.22 is above the 20-day moving average (MA) of 15.65, above the 50-day MA of 15.94, and above the 200-day MA of 13.97, indicating a bullish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 58.97 is Neutral, neither overbought nor oversold. The STOCH value of 86.59 is Negative, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $455.46M | -76.15 | -1.04% | 5.74% | ― | ― | |
69 Neutral | $624.82M | 58.86 | 1.78% | 8.56% | 23.84% | -312.04% | |
66 Neutral | $491.67M | 16.62 | 8.41% | 9.03% | 7.71% | -5.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $777.81M | 38.05 | -37.92% | 5.44% | -16.50% | -640.43% | |
55 Neutral | $155.72M | 136.69 | 0.64% | 8.15% | -0.59% | -160.22% | |
54 Neutral | $582.41M | 26.11 | 8.70% | 11.56% | 4.95% | -6.49% |
* Real Estate Sector Average
FVR
FrontView REIT, Inc.
16.22
5.70
54.21%
CTO
CTO Realty Growth
19.19
3.42
21.66%
GOOD
Gladstone Commercial
11.94
-0.13
-1.10%
OLP
One Liberty Properties
22.54
0.89
4.10%
MDV
Modiv
15.09
1.71
12.81%
PKST
Peakstone Realty Trust
20.92
9.80
88.13%
FrontView REIT, Inc. Corporate Events
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...
Business Operations and StrategyPrivate Placements and Financing
FrontView REIT Launches $75 Million At-The-Market Program
Positive
Feb 27, 2026
On February 27, 2026, FrontView REIT, Inc. and its operating partnership entered into a $75 million at-the-market equity distribution agreement with a syndicate of major broker-dealers to offer and sell shares of its common stock from time to time...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
FrontView REIT Reports First Full-Year 2025 Public Results
Positive
Feb 24, 2026
On February 24, 2026, FrontView REIT reported its fourth-quarter and full-year 2025 results, marking its first full year as a public company and highlighting active portfolio repositioning. For the quarter ended December 31, 2025, the company post...
Business Operations and StrategyPrivate Placements and Financing
FrontView REIT Issues Series A Convertible Preferred Securities
Positive
Feb 12, 2026
On February 10, 2026, FrontView REIT, Inc. issued 250,000 shares of Series A Convertible Preferred Stock at $100 per share, raising approximately $25 million from a group of institutional purchasers. The company had previously classified this Seri...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
FrontView REIT Details 2025 Results and 2026 Investment Pipeline
Positive
Jan 12, 2026
On January 12, 2026, Dallas-based FrontView REIT reported that in the fourth quarter of 2025 it acquired seven properties for $41.3 million at a 7.46% cash yield and an average lease term of 13.1 years, while selling 11 properties for $17.8 millio...
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.
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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.