other_material
confidence high
sentiment positive
materiality 0.75
FrontView REIT raises 2025 AFFO guidance, introduces 2026 guidance, $75M preferred equity
FrontView REIT, Inc.
- Raised full-year 2025 AFFO per share guidance by $0.01 to midpoint; introduced 2026 AFFO/sh guidance of $1.26-$1.30 (~3.2% growth).
- Secured $75M delayed-draw convertible perpetual preferred equity from Maewyn Capital at 6.75% dividend, $17.00 conversion price (~30% premium).
- Q3 occupancy 98.0% (+20bps QoQ); net sold $32.9M at 6.8% cap rate vs bought $16M at 7.5%.
- Net debt to annualized adjusted EBITDAre improved to 5.3x; pro forma liquidity $236M.
- Added Charles Fitzgerald to Board from Maewyn; implied cap rate 9.5% vs peer avg 6.7%.
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