FREIT Q3 GAAP EPS $1.98 on $14.1M litigation settlement; AFFO $0.18; dividend cut to $0.05

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

2024-Q3 EPS reported $1.99 revenue$21,421,000

GAAP net income $14.8M ($1.98/share) vs net loss $412K (-$0.06) year ago; includes ~$14.1M litigation settlement.
Total real estate revenue $7.15M, down 2% YoY; commercial segment down ~$433K as Kmart vacated Westwood Plaza.
AFFO per share $0.18 (up from $0.10); dividend declared $0.05 per share vs $0.30 in prior year Q3.
Commercial occupancy fell to 51.8% from 65.1%; residential occupancy stable at 96.8%.
Extended $8.9M mortgage with Provident Bank to May 2027 at 6.75% fixed rate.

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.