---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-23-000363"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2023-03-16T23:59:59+00:00"
generated_at: "2026-06-18T01:14:55.373075+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FREIT Q1 EPS $0.06 vs $6.45; revenue down 34.5%; dividend halved to $0.05

## Summary
- GAAP diluted EPS $0.06 vs $6.45 YoY; net income $419K vs $45.8M.
- Real estate revenue $6.98M, down 34.5% due to sale of Maryland Properties.
- AFFO per share $0.17 vs $0.14; dividend declared $0.05, half of prior $0.10.
- Same-property residential NOI $2.61M (+1%), commercial NOI $1.05M (+17%).
- Extended Westwood Plaza loan to Feb 2024 at 7.5% fixed; Westwood Hills loan extended to Oct 2023.

## SEC filing metadata
- accession: 0001174947-23-000363
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2023-03-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494723000363/0001174947-23-000363-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494723000363/form8k-29605_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-23-000363
- JSON: https://secwatch.observer/filing/0001174947-23-000363.json
- Plain text: https://secwatch.observer/filing/0001174947-23-000363.txt

## Key facts
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported the fiscal quarter ended January 31, 2023 results: revenue approximately $6,979,000, net income approximately $419,000, EPS $0.06 per share basic and diluted.
  - Period: the fiscal quarter ended January 31, 2023
  - Revenue: approximately $6,979,000
  - Net income: approximately $419,000
  - EPS: $0.06 per share basic and diluted
  - Result: reported results
  source text: from all periods presented as the properties were sold in the fiscal quarter ended January 31, 2022. Results for the Quarter Real estate revenue decreased 34.5% to approximately $6,979,000 for the fiscal quarter ended January 31, 2023 as compared to approximately $10,649,000 for the prior year’s comparable period. The decrease in revenue was primarily attributable
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000363/0001174947-23-000363-index.htm

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