---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-001061"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2024-09-13T23:59:59+00:00"
generated_at: "2026-05-31T05:04:47.045654+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174947-24-001061
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2024-09-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494724001061/0001174947-24-001061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494724001061/form8k-32828_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-001061
- JSON: https://secwatch.observer/filing/0001174947-24-001061.json
- Plain text: https://secwatch.observer/filing/0001174947-24-001061.txt

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