---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-23-001120"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2023-09-14T23:59:59+00:00"
generated_at: "2026-06-10T18:02:06.829519+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FREIT Q3 net loss $0.06/sh; AFFO falls to $0.10 from $0.15; revenue up 4.8%

## Summary
- Net loss of $412K ($0.06 diluted loss per share) vs net income of $1.12M ($0.16 diluted EPS) a year ago.
- Real estate revenue rose 4.8% to $7.30M, driven by residential base rent increases.
- AFFO per share $0.10 vs $0.15; dividend declared $0.30/share ($0.05 ordinary + $0.25 special).
- Kmart lease at Westwood Plaza terminated; potential annual rent of $930K-$1.685M from new tenants.
- Westwood Hills loan refinanced at fixed 6.05% from variable ~9.21%, saving ~$535K annually.

## SEC filing metadata
- accession: 0001174947-23-001120
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2023-09-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494723001120/0001174947-23-001120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494723001120/form8k-30746_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-23-001120
- JSON: https://secwatch.observer/filing/0001174947-23-001120.json
- Plain text: https://secwatch.observer/filing/0001174947-23-001120.txt

## Key facts
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported financial results for the fiscal quarter and nine months ended July 31, 2023.
  - Period: the fiscal quarter and nine months ended July 31, 2023
  - Result: reported results
  source text: The registrant has released its operating results for the fiscal quarter and nine months ended July 31, 2023. The Press Release is included as Exhibit 99.1 to this Form 8-K.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723001120/0001174947-23-001120-index.htm

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