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

Issuer:     FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS)
CIK:        0000036840
Form:       8-K
Filed at:   2023-09-14T23:59:59+00:00
Accession:  0001174947-23-001120
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494723001120/0001174947-23-001120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494723001120/form8k-30746_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-001120

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