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:   2023-06-14T23:59:59+00:00
Accession:  0001174947-23-000858
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000858/0001174947-23-000858-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494723000858/form8k-30323_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000858

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