FREIT Q2 net income rises to $533K; AFFO $0.21; commercial occupancy drops to 50.7%

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

2024-Q2 EPS reported $0.00 revenue$14,274,000

GAAP EPS $0.07 for Q2 ended April 30, 2024, up from $0.01 YoY; net income $533K vs $97K.
AFFO per share $0.21, up from $0.13 YoY; six-month AFFO $0.24 vs $0.30.
Commercial average occupancy fell to 50.7% from 64.8% due to Kmart vacating Westwood Plaza.
Six-month net income dropped to $21K from $516K; G&A surged $1.0M on legal and advisory costs.
Dividend maintained at $0.05 per share; extended $9M mortgage at fixed 6.75% to May 2027.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.