FrontView REIT, Inc. announced its operating results for the quarter ended September 30, 2024, on November 13, 2024. The company reported Pro Forma FFO per share of $0.19 and Pro Forma AFFO per share of $0.22. Revenues for the quarter reached $14.534 million, an increase from $11.623 million in the prior year's third quarter.
The company's real estate portfolio comprised 278 individual net-leased commercial properties as of September 30, 2024, with an ABR-weighted average lease term of 6.7 years. Subsequent to quarter-end, FrontView acquired eight new properties totaling $22.5 million at a weighted average cash capitalization rate of 8.0%. The company also has $81.4 million of acquisitions under contract, with expectations to close over $75.0 million in Q4 2024.
FrontView REIT declared a quarterly dividend of $0.215 per common share and OP unit, payable on or before January 15, 2025. For the fourth quarter of 2024, the company initiated AFFO guidance in the range of $0.32 to $0.34 per diluted share, based on anticipated investments exceeding $75 million and cash general and administrative expenses of approximately $2.1 million.
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