Stephen Preston, Chairman and Co-CEO of FrontView REIT, Inc. (NASDAQ:FVR), recently disclosed a series of transactions involving the company's common stock. On October 15, 2024, Preston purchased 3,540 shares at a price of $18.74 per share, totaling $66,339. The following day, October 16, 2024, he sold the same number of shares at a price range from $18.6158 to $18.7447, resulting in a total sale value of $66,268.
The transactions were noted in a recent filing with the Securities and Exchange Commission. According to the filing, the purchase on October 15 was mistakenly completed and was promptly corrected by the sale on October 16. Preston now holds 100 shares of FrontView REIT's common stock following these transactions.
The company, based in Dallas, Texas, operates as a real estate investment trust, and Preston's transactions did not result in any profit, as confirmed by the accompanying footnotes in the filing.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on FrontView REIT's financial position and market performance. The company's market capitalization stands at $498.55 million, reflecting its current valuation in the REIT sector. Despite the recent insider transaction by Stephen Preston, which resulted in no significant change to his holdings, there are some noteworthy aspects of FrontView REIT's financial health that investors should consider.
An InvestingPro Tip indicates that FrontView REIT's liquid assets exceed its short-term obligations, suggesting a solid near-term financial position. This could be reassuring for investors concerned about the company's ability to meet its immediate financial commitments.
Another relevant InvestingPro Tip reveals that the stock is trading near its 52-week high, with the current price at 95.64% of the 52-week peak. This information aligns with the recent insider transaction price of around $18.74 per share and may indicate investor confidence in the company's prospects.
It's worth noting that FrontView REIT's revenue for the last twelve months as of Q2 2024 was $55.74 million, with a gross profit margin of 76.81%. This high margin could be attractive to investors looking for efficient REITs in the market.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into FrontView REIT's financial health and market position. There are 5 more InvestingPro Tips available for FVR, which could be valuable for investors conducting due diligence on this REIT.
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