Man Group plc purchased a new stake in FrontView REIT, Inc. (NYSE:FVR – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 38,866 shares of the company’s stock, valued at approximately $786,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in FrontView REIT during the second quarter valued at approximately $90,166,000. Corient Private Wealth LLC increased its position in shares of FrontView REIT by 353.1% during the 4th quarter. Corient Private Wealth LLC now owns 760,883 shares of the company’s stock valued at $11,231,000 after purchasing an additional 592,940 shares during the last quarter. Invesco Ltd. raised its holdings in FrontView REIT by 2,897.7% during the 4th quarter. Invesco Ltd. now owns 421,933 shares of the company’s stock valued at $6,228,000 after buying an additional 407,858 shares during the period. First Eagle Investment Management LLC raised its holdings in FrontView REIT by 1,230.4% during the 4th quarter. First Eagle Investment Management LLC now owns 399,126 shares of the company’s stock valued at $5,891,000 after buying an additional 369,126 shares during the period. Finally, SlateStone Wealth LLC bought a new stake in FrontView REIT in the fourth quarter worth $3,645,000.
FrontView REIT Stock Up 0.1%
NYSE:FVR opened at $19.05 on Friday. FrontView REIT, Inc. has a twelve month low of $12.89 and a twelve month high of $22.29. The company has a market cap of $465.96 million, a price-to-earnings ratio of 635.00, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The stock has a fifty day simple moving average of $20.34 and a 200-day simple moving average of $18.34. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.62.
FrontView REIT Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.86 dividend on an annualized basis and a yield of 4.5%. FrontView REIT’s dividend payout ratio is 2,866.67%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Huntington initiated coverage on shares of FrontView REIT in a report on Wednesday, July 15th. They issued an “outperform” rating and a $22.50 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of FrontView REIT from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. B. Riley Financial raised their price objective on shares of FrontView REIT from $20.50 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. BMO Capital Markets raised their price objective on shares of FrontView REIT from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company upped their target price on FrontView REIT from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, FrontView REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.
FrontView REIT Company Profile
FrontView REIT specializes in real estate investing.
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