Bank of New York Mellon Corp Makes New Investment in FrontView REIT, Inc. (NYSE:FVR)

Bank of New York Mellon Corp bought a new stake in FrontView REIT, Inc. (NYSE:FVR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 31,080 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds also recently added to or reduced their stakes in FVR. abrdn plc purchased a new position in FrontView REIT in the 4th quarter valued at about $7,268,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of FrontView REIT during the 4th quarter valued at approximately $1,632,000. Exchange Traded Concepts LLC bought a new position in shares of FrontView REIT in the 4th quarter worth about $535,000. Rhumbline Advisers bought a new position in FrontView REIT in the fourth quarter worth about $295,000. Finally, Asset Management One Co. Ltd. acquired a new position in FrontView REIT during the 4th quarter valued at approximately $178,000.

Insider Activity at FrontView REIT

In other news, CEO Randall Starr purchased 3,716 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was bought at an average cost of $13.34 per share, for a total transaction of $49,571.44. Following the completion of the acquisition, the chief executive officer now directly owns 3,716 shares of the company’s stock, valued at approximately $49,571.44. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

FrontView REIT Stock Up 0.8 %

Shares of FrontView REIT stock opened at $13.15 on Friday. The stock has a fifty day simple moving average of $16.39. FrontView REIT, Inc. has a 12 month low of $12.96 and a 12 month high of $19.76.

FrontView REIT (NYSE:FVR) last released its earnings results on Wednesday, March 19th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $15.51 million for the quarter, compared to the consensus estimate of $15.45 million. As a group, analysts predict that FrontView REIT, Inc. will post 1.22 earnings per share for the current fiscal year.

FrontView REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Monday, March 31st.

Wall Street Analyst Weigh In

FVR has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on FrontView REIT from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Morgan Stanley reduced their price objective on shares of FrontView REIT from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, FrontView REIT has an average rating of “Buy” and an average target price of $21.20.

About FrontView REIT

FrontView REIT specializes in real estate investing.