---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-000356"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T18:18:49.933112+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FREIT Q1 GAAP loss per share $0.07 vs prior income $0.06; AFFO down to $0.04 from $0.17

## Summary
- Net loss of ~$512K ($0.07 diluted) vs net income of $419K ($0.06) a year ago.
- Total real estate revenue $6.999M, up 0.3% YoY; residential rents up, commercial down.
- Commercial occupancy fell to 50.1% from 66.4% after Kmart vacated Westwood Plaza in Oct 2023.
- G&A expenses surged $981K due to financial advisory work and litigation costs with Sinatra Properties.
- Repaid $7.5M Rockaway, NJ loan on Jan 11, 2024, saving ~$558K annual debt service; dividend held at $0.05.

## SEC filing metadata
- accession: 0001174947-24-000356
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494724000356/0001174947-24-000356-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494724000356/form8k-31694_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-000356
- JSON: https://secwatch.observer/filing/0001174947-24-000356.json
- Plain text: https://secwatch.observer/filing/0001174947-24-000356.txt

## Key facts
- Earnings Releases
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reported fiscal quarter ended January 31, 2024 results: revenue approximately $6,999,000, net income Net Loss of approximately ($512,000), EPS ($0.07) per share basic and diluted.
  - Period: fiscal quarter ended January 31, 2024
  - Revenue: approximately $6,999,000
  - Net income: Net Loss of approximately ($512,000)
  - EPS: ($0.07) per share basic and diluted
  - Result: reported results
  source text: Total Average Residential Occupancy 95.3% 96.8% Total Average Commercial Occupancy 50.1% 66.4% Results for the Quarter Total real estate revenue increased 0.3% to approximately $6,999,000 for the first quarter ended January 31, 2024 as compared to approximately $6,979,000 for the prior year’s comparable period. This minor change in revenue was primarily
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494724000356/0001174947-24-000356-index.htm

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