FREIT Q1 2025 net income $0.08/sh vs loss; AFFO $0.16; revenue up 3.9%

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

2025-Q1 EPS reported $0.08 revenue$7,269,000

Net income $614K ($0.08/sh) vs loss of ($512K) ($0.07) in prior year; AFFO rose to $0.16 from $0.04.
Total real estate revenue $7,269K, +3.9% YoY; residential occupancy 96.8% (up from 95.3%).
G&A expenses fell $963K due to lower advisory and legal costs; commercial NOI declined to $567K from $654K.
Dividend declared $0.08/sh vs $0.05 last year, paid March 14, 2025.
Loans extended: $13.9M Provident Bank to Dec 2027 at 6.05%; $15.7M Valley National extended 90 days to May 2025.

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