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FVR

FrontView REIT, Inc.

FVR

FrontView REIT, Inc. • NYSE
$15.28 ▼ -0.52% (-0.08)
Market Cap $324.96 M
52w High $19.72
52w Low $10.61
Dividend Yield 0.86%
P/E -15.13
Volume 68.15K
Outstanding Shares 21.27M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $16.803M ▼ $3.112M ▼ $4.015M ▲ 23.895% ▲ $0.21 ▲ $20.667M ▲
Q2-2025 $17.467M ▲ $12.745M ▲ $-2.901M ▼ -16.608% ▼ $-0.16 ▼ $10.823M ▼
Q1-2025 $16.243M ▲ $10.644M ▼ $-833K ▲ -5.128% ▲ $-0.059 ▲ $11.69M ▲
Q4-2024 $15.177M ▲ $17.829M ▲ $-2.997M ▼ -19.747% ▼ $-0.88 ▼ $6.403M ▼
Q3-2024 $14.534M $14.342M $-2.431M -16.726% $-0.16 $10.905M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $19.595M ▲ $846.79M ▼ $342.639M ▼ $385.211M ▲
Q2-2025 $8.363M ▲ $856.512M ▼ $352.561M ▲ $369.89M ▲
Q1-2025 $3.309M ▼ $860.835M ▲ $345.244M ▲ $324.664M ▼
Q4-2024 $5.094M ▼ $821.809M ▲ $299.131M ▼ $324.821M ▲
Q3-2024 $9.895M $733.07M $448.372M $180.974M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.015M ▲ $0 ▼ $0 ▲ $0 ▼ $-8.363M ▼ $0 ▼
Q2-2025 $-4.53M ▼ $9.258M ▲ $-4.51M ▲ $306K ▼ $5.054M ▲ $9.258M ▲
Q1-2025 $-1.337M ▲ $8.101M ▲ $-47.285M ▲ $37.399M ▼ $-1.785M ▲ $8.101M ▲
Q4-2024 $-4.822M ▲ $2.685M ▼ $-105.103M ▼ $95.045M ▲ $-7.373M ▼ $2.685M ▼
Q3-2024 $-20.006M $10.124M $-597K $-13.68M $-4.153M $10.124M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been gradually climbing over the last few years, but still sits at a modest level for a public REIT. The company has been able to keep a healthy spread between revenue and direct property costs, which is a positive sign for property-level economics. However, operating profits are slightly negative, and the latest year shows a noticeable accounting loss after several years of roughly breakeven results. In simple terms, the properties themselves seem to perform reasonably well, but corporate and other overheads are heavy enough to pull overall earnings into the red. Earnings per share have also been volatile, which suggests that one‑time items, financing decisions, and accounting adjustments are influencing reported profit more than the underlying cash generation from the portfolio.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown its asset base steadily over the last five years, moving from a very small platform to a more meaningful portfolio. Debt has risen along the way but recently declined from its prior peak, which signals some effort to manage leverage. Equity has increased over time, indicating capital raising and, more recently, some rebuilding of the company’s capital cushion. Cash on hand is relatively thin, which is common for REITs but does mean the company likely depends on access to credit and capital markets to fund growth. Overall, the balance sheet reflects a maturing REIT: bigger than before, still using a fair amount of borrowing, but with a clearer equity base than in its early years.

Cash Flow

Cash Flow Despite the weak headline earnings, cash generation from operations has been consistently positive and fairly steady for several years. Free cash flow tracks operating cash flow closely because the company has not been spending much on new development or heavy capital projects; growth appears to be funded more through acquisitions and external capital than through large internal build‑outs. This pattern is typical of a net‑lease REIT and suggests that the properties generate a relatively predictable stream of rent cash. The gap between positive cash flow and weaker accounting earnings highlights the importance of looking beyond net income for this type of business and paying close attention to how sustainable and repeatable that rental cash truly is.

Competitive Edge

Competitive Edge FrontView REIT competes by focusing on a narrow slice of the real estate market: highly visible, freestanding properties on busy roads, often on the edges of larger shopping areas. This specialization creates a form of competitive edge because fewer buyers are as focused on this exact niche, allowing FrontView to lean on its local real estate expertise rather than competing purely on price against very large, generalist REITs. Its tenant mix is intentionally diversified across service industries like restaurants, healthcare, finance, and auto services, which can help smooth out shocks from any single sector. The company also actively buys and sells properties, pruning weaker assets and reinvesting into locations it views as stronger. The main competitive risk is that this niche remains relatively small and dependent on the long‑term health of car‑oriented retail and services; any broad shift in how people shop, drive, or use physical locations could weaken this advantage over time.

Innovation and R&D

Innovation and R&D The company is not an R&D‑driven or technology‑heavy story. Its innovation lies more in strategy than in software: a strict “real estate first” mindset, a disciplined screening process for locations, and a willingness to walk away from deals that do not meet its long‑term real estate standards. FrontView’s edge comes from understanding traffic patterns, visibility, and tenant needs for standalone sites, rather than from proprietary tech platforms. It does have some ESG initiatives—such as energy‑efficient lighting, charging stations, and tenant engagement around environmental practices—which align with evolving expectations for modern landlords but are not transformative on their own. Future “innovation” will likely show up in how cleverly the company structures acquisitions, manages lease terms, and recycles capital, not in traditional research and development.

Summary

FrontView REIT has evolved from a very small base into a more established, niche net‑lease platform. Property‑level performance and cash flow appear reasonably steady, even as accounting profits have turned slightly negative, underscoring the importance of focusing on cash, leases, and occupancy rather than just reported earnings. The balance sheet shows growth in assets and equity financed partly with debt, which is typical for a REIT but still requires careful monitoring of leverage and liquidity, given the modest cash balance. Competitively, FrontView’s narrow focus on highly visible outparcel properties, diversified tenant base, and active buy‑sell discipline give it a recognizable identity in a crowded REIT field. However, the strategy remains sensitive to broader trends in brick‑and‑mortar service businesses and to ongoing access to capital. Overall, this is a story of a specialized landlord with growing scale, steady cash generation, and a strategic niche, but with the usual REIT trade‑offs around leverage, capital needs, and exposure to shifts in tenant demand.

NEWS

November 25, 2025 · 4:05 PM UTC

FrontView REIT Secures Long-Term Avis Lease at Former TriColor Site, Unlocking Value Through Real Estate Underwriting and Asset Management Execution

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November 24, 2025 · 4:05 PM UTC

FrontView REIT Announces $75 Million Stock Repurchase Authorization

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November 12, 2025 · 4:19 PM UTC

FrontView REIT Announces $75 Million Strategic Convertible Perpetual Preferred Equity Investment led by Maewyn Capital Partners

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November 12, 2025 · 4:13 PM UTC

FrontView REIT Announces Third Quarter 2025 Results, Updated Full Year 2025 Guidance and 2026 Preliminary Guidance

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October 15, 2025 · 4:05 PM UTC

FrontView REIT Announces Third Quarter 2025 Earnings Release Date and Conference Call Information

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