Principal Financial Group Inc. Acquires New Position in FrontView REIT, Inc. $FVR

Principal Financial Group Inc. acquired a new position in shares of FrontView REIT, Inc. (NYSE:FVR) in the 3rd quarter, HoldingsChannel reports. The firm acquired 198,570 shares of the company’s stock, valued at approximately $2,722,000.

Other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of FrontView REIT in the 1st quarter valued at approximately $35,000. CWM LLC raised its position in shares of FrontView REIT by 18,067.6% during the 2nd quarter. CWM LLC now owns 6,722 shares of the company’s stock valued at $81,000 after buying an additional 6,685 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in FrontView REIT by 26.5% in the third quarter. Resona Asset Management Co. Ltd. now owns 8,153 shares of the company’s stock valued at $111,000 after acquiring an additional 1,708 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FrontView REIT by 13.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,680 shares of the company’s stock worth $116,000 after acquiring an additional 1,156 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in FrontView REIT by 9.2% during the third quarter. State of Alaska Department of Revenue now owns 9,275 shares of the company’s stock worth $126,000 after acquiring an additional 783 shares during the last quarter.

FrontView REIT Price Performance

FVR opened at $16.18 on Tuesday. The stock’s 50-day moving average price is $15.78 and its 200 day moving average price is $14.39. FrontView REIT, Inc. has a 12-month low of $10.61 and a 12-month high of $17.98. The firm has a market cap of $350.30 million, a price-to-earnings ratio of -19.73 and a beta of 1.32. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.61.

FrontView REIT announced that its board has initiated a share buyback program on Monday, November 24th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 23.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research raised FrontView REIT from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of FrontView REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, December 8th. Wall Street Zen raised shares of FrontView REIT from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Morgan Stanley lifted their price target on shares of FrontView REIT from $13.50 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of FrontView REIT in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.80.

FrontView REIT Profile

FrontView REIT specializes in real estate investing.