FREIT Q3 EPS $2.69 on Franklin Crossing gain; liquidation plan targets $24.44-$30.03/sh

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Q3 net income $20.2M ($2.69/share) vs $0.9M ($0.12) prior year; gain on Franklin Crossing sale $19.8M.
AFFO/share $0.14 vs $0.23 prior year; revenue $7.5M, up 4.0% on higher residential rents.
Voluntary liquidation plan approved; stockholder vote Sept 29, 2026; estimated proceeds $24.44-$30.03 per share.
Sold Franklin Crossing for $27.0M; Westwood Plaza sale for $28.8M to Regency Centers expected early 2027.
Dividend $0.10/share, payable Sept 14, 2026; new $20M credit facility with Provident Bank undrawn.

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