FREIT Q4 EPS flat $0.15; AFFO triples to $0.27; dividend cut to $0.10/share

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

GAAP EPS $0.15 in Q4 (flat YoY); twelve-month EPS $0.47 vs $2.13 due to prior-year $15.7M litigation settlement.
AFFO per share improved to $0.27 in Q4 from $0.05; twelve-month AFFO $0.89 vs $0.47.
Total revenue +4% to $7.55M; commercial occupancy 49.2%, residential 95.8%. $25M Preakness mortgage matured; extension talks ongoing.
Quarterly dividend slashed to $0.10 from $0.70; annual dividend $0.36 vs $0.85.

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