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First Real Estate Investment Trust of New Jersey reports recurring updates on its residential and commercial real estate portfolio in New Jersey and New York. The REIT’s news centers on quarterly operating results, real estate revenue, GAAP earnings, AFFO, dividends, occupancy rates, and segment property net operating income.
Company releases also describe rent trends across residential properties, commercial occupancy changes, tenant-related leasing effects, and board-level capital or governance actions such as common-stock dividends and the stockholder rights plan. FREIT’s common stock trades over the counter under the symbol FREVS.
First Real Estate Investment Trust of New Jersey (OTC:FREVS) approved a Board-backed plan of voluntary liquidation, subject to stockholder approval expected in Fall 2026.
FREIT currently estimates total liquidating distributions of approximately $24.44–$30.03 per share, compared with a $15.25 closing price on May 13, 2026.
The Trust plans to sell seven residential properties, five commercial properties, and three land parcels in NJ/NY, aiming to complete asset dispositions within 24 months after stockholder adoption. Actual proceeds and timing may differ due to transaction costs, market conditions, and other risks.
First Real Estate Investment Trust of New Jersey (FREIT) reported its unaudited operating results for the second quarter ending April 30, 2024. Total real estate revenue increased by 5.2% year-over-year to approximately $7.3 million, driven primarily by higher base rents in the residential segment. Net income rose to $533,000, or $0.07 per share, compared to $97,000, or $0.01 per share, in the same period of the previous year.
For the first six months of fiscal 2024, revenue increased by 2.7% to $14.3 million. However, net income for this period sharply declined to $21,000 from $516,000, mainly due to a significant rise of $1 million in general and administrative expenses. Residential occupancy averaged 95.9%, while commercial occupancy dropped to 50.4%. The Board declared a dividend of $0.05 per share.
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