First Real Estate Investment Trust of New Jersey, Inc. (FREIT) is a Maryland-incorporated equity REIT focused on long-term ownership of residential and commercial properties in New Jersey and New York. As of October 31, 2025, it held six multifamily properties with 792 units, a 65% tenancy-in-common interest in the 266-unit Pierre Towers, five commercial properties totaling about 589,000 square feet, and three parcels of undeveloped land.
Total assets were $149.9 million and mortgage debt was $121.3 million at a weighted average interest rate of 5.34% and average life of 1.6 years, leaving the REIT highly leveraged and reliant on refinancings of balloon maturities. Real estate revenue rose to $29.3 million in fiscal 2025, driven by higher residential rents and 96.6% average occupancy, partially offset by lower commercial income tied to elevated vacancies at Westwood Plaza and Preakness Center.
Net income attributable to common equity was $3.5 million or $0.47 per diluted share, down from $15.9 million in 2024, when results were boosted by a litigation settlement and property sale gains. The company extended or modified several key loans, including reducing the Westwood Plaza mortgage to $10 million at 8.5% interest, and continues to negotiate extensions on a $25 million Preakness Center mortgage. FREIT paid an annual dividend of $0.36 per share in 2025 and maintains a stockholder rights plan effective through July 31, 2026.
First Real Estate Investment Trust of New Jersey disclosed that its Chairman of the Board, Ronald J. Artinian, filed Amendment No. 16 to a Schedule 13G reporting his beneficial ownership in the company’s common stock.
Artinian reports beneficial ownership of 543,030 shares of common stock, representing 7.3% of the class as of 12/31/2025. He has sole voting and sole dispositive power over all of these shares and no shared voting or dispositive power. The filing states the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer, and that he is not part of any reporting group.
First Real Estate Investment Trust of New Jersey, Inc. (FREIT) reported that its Board of Directors declared a first quarter cash dividend of $0.10 per share on its common stock. The dividend will be paid on March 13, 2026 to shareholders who are on record as of the close of business on February 27, 2026.
The Board stated it will continue to evaluate the dividend each quarter and emphasized that there is no assurance any future dividends will be declared or that future dividend amounts will match this level. The company also included standard forward‑looking statement cautions, noting that various business, economic, real estate market and regulatory risks could cause future results or actions, including dividends, to differ from current expectations.
First Real Estate Investment Trust of New Jersey, Inc. declared a fourth quarter dividend of $0.10 per share on its common stock. The dividend will be paid on December 15, 2025 to shareholders of record at the close of business on December 1, 2025.
The Board of Directors stated it will continue to evaluate the dividend on a quarterly basis and emphasized there is no assurance that dividends will be declared in future periods. The Trust also noted that the amount declared on October 8, 2025 is not necessarily indicative of future dividend levels and included standard forward-looking statement cautions regarding business, market, and REIT-related risks.
First Real Estate Investment Trust of New Jersey, Inc. (FREIT) reported condensed consolidated interim results and disclosures for the nine and three months ended July 31, 2025. The filing shows 7,471,344 shares issued and weighted average basic shares around 7,468 for periods presented. Cash and cash equivalents were $14.6 million and U.S. Treasury securities available-for-sale were $20.5 million at July 31, 2025. Fixed-rate mortgages payable totaled $121.8 million versus $128.9 million at October 31, 2024. FREIT recorded net income of $2.0 million for the nine months ended July 31, 2025 compared with $16.1 million in the prior-year period, and reported earnings per share of $0.32 and $1.99 for the comparable nine-month and prior-year periods. A litigation settlement of $15.7 million (net of fees) and the sale of Maryland properties produced an adjusted net gain of approximately $67.4 million (FREIT's share ~$44.8 million). Investment income accretion on Treasury securities was ~$666,000 for the nine months. The company continues to operate as a REIT and intends to distribute at least 90% of ordinary taxable income for fiscal 2025.
First Real Estate Investment Trust of New Jersey, Inc. filed a current report to note it has released operating results for the fiscal quarter ended July 31, 2025. Those results are provided in a press release attached as Exhibit 99.1, dated September 12, 2025.
The company includes the usual forward-looking statement caution, highlighting that actual performance can be affected by market and economic conditions, longer-than-expected lease-up periods, and tenants’ ability to pay rent, and refers readers to its most recent Form 10-K and Form 10-Q for additional risk details.