Zimmer Partners LP Has $16.38 Million Stake in FrontView REIT, Inc. $FVR

Key Points

• Zimmer Partners LP has reduced its stake in FrontView REIT, Inc. by 1.5%, selling 19,549 shares and owning approximately 1,280,551 shares valued at $16.38 million.
• FrontView REIT announced a quarterly dividend of $0.215 per share, with an annualized yield of 6.4%, payable on October 15th.
• Analysts have downgraded FrontView REIT, with Morgan Stanley setting a new price target of $13.50 and Bank of America lowering its target to $11.00.

Zimmer Partners LP lowered its stake in FrontView REIT, Inc. (NYSE:FVR - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,280,551 shares of the company's stock after selling 19,549 shares during the quarter. Zimmer Partners LP owned approximately 7.41% of FrontView REIT worth $16,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of FrontView REIT by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 32,804 shares of the company's stock worth $420,000 after buying an additional 1,724 shares during the period. Tower Research Capital LLC TRC acquired a new position in FrontView REIT in the 4th quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new position in FrontView REIT during the 1st quarter worth approximately $25,000. Quantbot Technologies LP raised its stake in FrontView REIT by 37.9% during the 1st quarter. Quantbot Technologies LP now owns 8,674 shares of the company's stock valued at $111,000 after purchasing an additional 2,384 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of FrontView REIT in the first quarter valued at $38,000.

FrontView REIT Stock Down 0.4%

FVR traded down $0.05 during trading on Friday, reaching $13.71. 77,713 shares of the stock traded hands, compared to its average volume of 160,776. The stock's 50-day simple moving average is $12.65 and its two-hundred day simple moving average is $12.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.73 and a quick ratio of 0.73. FrontView REIT, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $19.76. The stock has a market cap of $280.51 million and a price-to-earnings ratio of -12.81.

FrontView REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Tuesday, September 30th. FrontView REIT's payout ratio is currently -80.37%.

Analyst Ratings Changes

FVR has been the topic of a number of research analyst reports. Bank of America reiterated an "underperform" rating and set a $11.00 price target (down previously from $15.00) on shares of FrontView REIT in a report on Tuesday, June 17th. Morgan Stanley lowered FrontView REIT from an "overweight" rating to an "equal weight" rating and set a $13.50 price objective for the company. in a research report on Friday, July 11th. Wall Street Zen downgraded FrontView REIT from a "hold" rating to a "sell" rating in a report on Sunday, August 31st. Finally, JPMorgan Chase & Co. lowered shares of FrontView REIT from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $12.00 in a research report on Tuesday, June 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.10.

Insider Activity at FrontView REIT

In other news, Director Elizabeth F. Frank acquired 2,808 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $12.44 per share, for a total transaction of $34,931.52. Following the completion of the acquisition, the director owned 5,177 shares of the company's stock, valued at approximately $64,401.88. This represents a 118.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company's stock.

About FrontView REIT

FrontView REIT specializes in real estate investing.