---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-23-000858"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2023-06-14T23:59:59+00:00"
generated_at: "2026-06-14T01:38:57.833334+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FREIT Q2 fiscal 2023 EPS $0.01, dividend cut to $0.05, AFFO $0.13 vs $0.15

## Summary
- GAAP net income $97k ($0.01 diluted EPS) vs net loss $352k ($0.05) in prior Q2; revenue $6.9M (+4.6% YoY).
- Dividend declared $0.05 per share, paid June 15, 2023, down from $0.10 in prior year Q2.
- AFFO per share $0.13 (Q2) vs $0.15 prior year; six-month AFFO $0.30 vs $0.29.
- Residential occupancy 97.5% (down from 98.5%), commercial occupancy 64.8% (down from 66.6%).
- Westwood Hills loan extended to Oct 2023; expected refinancing $25.5M at 6.05% by Aug 2023.

## SEC filing metadata
- accession: 0001174947-23-000858
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2023-06-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494723000858/0001174947-23-000858-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494723000858/form8k-30323_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-23-000858
- JSON: https://secwatch.observer/filing/0001174947-23-000858.json
- Plain text: https://secwatch.observer/filing/0001174947-23-000858.txt

## Key facts
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported the fiscal quarter ended April 30, 2023 results: revenue approximately $6,916,000, net income approximately $97,000, EPS $0.01 per share basic and diluted.
  - Period: the fiscal quarter ended April 30, 2023
  - Revenue: approximately $6,916,000
  - Net income: approximately $97,000
  - EPS: $0.01 per share basic and diluted
  - Result: reported results
  source text: from all periods presented as the properties were sold in the six months ended April 30, 2022. Results for the Quarter Real estate revenue increased 4.6% to approximately $6,916,000 for the fiscal quarter ended April 30, 2023 as compared to approximately $6,615,000 for the prior year’s comparable period. The increase in revenue was primarily attributable to
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000858/0001174947-23-000858-index.htm
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported the six months ended April 30, 2023 results: revenue approximately $13,895,000, net income approximately $516,000, EPS $0.07 per share basic and diluted.
  - Period: the six months ended April 30, 2023
  - Revenue: approximately $13,895,000
  - Net income: approximately $516,000
  - EPS: $0.07 per share basic and diluted
  - Result: reported results
  source text: of approximately $89,000. (Refer to “Table of Revenue & Net Income (Loss) Components”) 1 Results for the Six Months Real estate revenue decreased 19.5% to approximately $13,895,000 for the six months ended April 30, 2023 as compared to approximately $17,264,000 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/36840/000117494723000858/0001174947-23-000858-index.htm

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