---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-000840"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2024-06-14T23:59:59+00:00"
generated_at: "2026-06-01T04:28:06.964651+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174947-24-000840
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2024-06-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494724000840/0001174947-24-000840-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494724000840/form8k-32425_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-000840
- JSON: https://secwatch.observer/filing/0001174947-24-000840.json
- Plain text: https://secwatch.observer/filing/0001174947-24-000840.txt

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