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:   2024-06-14T23:59:59+00:00
Accession:  0001174947-24-000840
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36840/000117494724000840/0001174947-24-000840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36840/000117494724000840/form8k-32425_frevs.htm
  HTML page:      https://secwatch.observer/filing/0001174947-24-000840

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer