FrontView REIT initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of FrontView REIT (FVR) with an Overweight rating and $22 price target FrontView is a net lease real estate investment trust focused on single-tenant assets with significant frontage on high-traffic roads, the analyst tells investors in a research note. The firm expects “sector-leading” 2025 funds from operations growth based on its estimate for $200M of acquisitions in 2025 for the company. In addition, FrontView trades at a significant discount to net asset value and owns a portfolio of high-quality unencumbered assets, says Wells.