secwatch.observer — SEC 8-K summary
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Issuer:     FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS)
CIK:        0000036840
Form:       8-K
Filed at:   2023-01-27T23:59:59+00:00
Accession:  0001174947-23-000060
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/0001174947-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000060/form8k-29243_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer