---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-23-000060"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2023-01-27T23:59:59+00:00"
generated_at: "2026-06-20T07:27:31.414412+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# FREIT Q4 net loss of $0.6M; AFFO per share negative $0.04; full-year net income $46M on property sale gain

## Summary
- Q4 GAAP EPS loss $0.08 (vs $0.02 gain) on revenue $7.0M down 42% YoY; AFFO per share loss $0.04 (vs $0.33).
- Full-year GAAP EPS $6.52 includes $68.8M net gain on sale of Maryland properties; revenue $31.3M down 38%.
- Special $7.50 per share dividend paid Aug 30, plus $1.50 ordinary dividend declared Sep 28; total dividends $9.20 per share.
- Commercial occupancy declined to 65.9% from 68.6%; residential occupancy 97.6% nearly flat.
- Westwood Hills $25M loan extended six months to April 1, 2023 on same terms.

## SEC filing metadata
- accession: 0001174947-23-000060
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2023-01-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/0001174947-23-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/form8k-29243_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-23-000060
- JSON: https://secwatch.observer/filing/0001174947-23-000060.json
- Plain text: https://secwatch.observer/filing/0001174947-23-000060.txt

## Key facts
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported the fiscal quarter ended October 31, 2022 results: revenue $7 million, net income approximately ($0.6) million, EPS ($0.08) per share basic and diluted.
  - Period: the fiscal quarter ended October 31, 2022
  - Revenue: $7 million
  - Net income: approximately ($0.6) million
  - EPS: ($0.08) per share basic and diluted
  - Result: reported results
  source text: Properties") from all periods presented as the properties were sold in the twelve months ended October 31, 2022. Results for the Quarter Real estate revenue decreased 42.2% to $7 million for the fiscal quarter ended October 31, 2022 as compared to $12.2 million for the prior year’s comparable period. The decrease in revenue was primarily attributable to the
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/0001174947-23-000060-index.htm
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported the twelve months ended October 31, 2022 results: revenue $31.3 million, net income approximately $46 million, EPS $6.52 per share basic and $6.45 per share diluted.
  - Period: the twelve months ended October 31, 2022
  - Revenue: $31.3 million
  - Net income: approximately $46 million
  - EPS: $6.52 per share basic and $6.45 per share diluted
  - Result: reported results
  source text: in the fiscal quarter ended October 31, 2022. (Refer to “Table of Revenue & Net (Loss) Income Components”) Results for the Twelve Months Real estate revenue decreased 37.8% to $31.3 million for the twelve months ended October 31, 2022 as compared to $50.3 million for the prior year’s comparable period. The decline in revenue was primarily attributable to the
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/0001174947-23-000060-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.