secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS)
CIK:        0000036840
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001174947-23-000363
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000363/0001174947-23-000363-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000363/form8k-29605_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000363

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