FREIT Q4 fiscal 2023: EPS $0.09, revenue $7.15M, AFFO per share $0.17

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Q4 GAAP EPS $0.09 vs ($0.08) loss; net income $656K vs ($554K) loss a year ago.
Q4 AFFO per share $0.17 vs ($0.04); full year AFFO $0.57 vs $0.40.
Revenue Q4 $7.15M (+1.5% YoY); residential occupancy 95.9% (down from 97.6%), commercial 61.3% (down from 65.9%).
Refinanced Westwood Hills loan at fixed 6.05% for 3 years; paid off $7.5M Rockaway loan in Jan 2024.
Q4 dividend $0.05 per share paid Dec 15, 2023 to holders of record Dec 1.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported fiscal quarter and twelve months ended October 31, 2023 results: revenue $7,153,000, net income $656,000, EPS $0.09 per share basic and diluted.

Period: fiscal quarter and twelve months ended October 31, 2023
Revenue: $7,153,000
Net income: $656,000
EPS: $0.09 per share basic and diluted
Result: reported results

Exact text from the filing

when prudent. The Board is committed to protecting and delivering value for all FREIT stockholders”. Results for the Quarter Real estate revenue increased 1.5% to approximately $7,153,000 for the fiscal quarter ended October 31, 2023 as compared to approximately $7,048,000 for the prior year’s comparable period. The change in revenue was primarily attributable to

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Source: SEC EDGAR

accession 0001174947-24-000134

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