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:   2024-03-15T23:59:59+00:00
Accession:  0001174947-24-000356
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494724000356/0001174947-24-000356-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494724000356/form8k-31694_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-24-000356

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