FrontView REIT, Inc. (FVR) began trading on the NYSE on Wed 2 Oct 24

FrontView REIT Inc. is a Dallas-based landlord that focuses on businesses with stores in prominent locations. It owns so-called outparcels, properties that point directly onto high-traffic roads that are visible to consumers.

Illinois is its largest market.

• Sector(s): Real Estate
• Industry: REIT - Diversified
• HQ: Dallas, Texas
• https://www.frontviewreit.com

Ticker: FVR

Opened at $18.25, below the initial public offering price of $19 apiece. It sold 13.2 million shares in the IPO, raising $250.8 million.

With the U.S. Federal Reserve joining major economies in cutting interest rates, analysts expect REITs to be among the prime beneficiaries, as lower rates make financing real estate deals easier.

U.S. IPO market proceeds have totaled $26 billion in the first nine months of 2024, marking its best year since the IPO boom in 2021, according to data compiled by LSEG.

Cold storage provider Lineage, which marked the year's biggest stock market listing and the largest U.S. REIT IPO ever, went public in July and is trading slightly below its IPO price as of last close.

FrontView focuses primarily on investing in properties facing high-traffic roads that are highly visible to consumers. It holds a portfolio of 278 properties in the United States, with an occupancy rate of about 99%, as of June 30.

The company mainly seeks tenants whose business operations are service-oriented such as quick-service restaurants, automotive stores and dealers as well as medical and dental providers.

Founded in 2016 by Stephen Preston, FrontView's tenants include Starbucks, telecom company AT&T, Bank of America and drugstore chain operator Walgreens.