First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2023
January 29, 2024 at 12:00 pm
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First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the fourth quarter and full year ended October 31, 2023. For the fourth quarter, the company reported sales was USD 2.17 million compared to USD 2.22 million a year ago. Revenue was USD 7.15 million compared to USD 7.05 million a year ago. Net income was USD 0.656 million compared to net loss of USD 0.554 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to basic loss per share from continuing operations of USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to diluted loss per share from continuing operations of USD 0.08 a year ago.
For the full year, sales was USD 25.52 million compared to USD 28.45 million a year ago. Revenue was USD 28.34 million compared to USD 31.27 million a year ago. Net income was USD 0.76 million compared to USD 45.99 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 6.52 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 6.45 a year ago.
First Real Estate Investment Trust of New Jersey, Inc. is an equity real estate investment trust (REIT). The Company is engaged in acquiring, developing, constructing and holding real estate properties for long-term investment and not for resale. The Company operates through two segments: commercial properties and residential properties. Its funds acquisition opportunities and the development of its real estate properties largely through debt financing, including mortgage loans collateralized by certain of its properties. Its properties are primarily located in northern New Jersey and New York. Its subsidiaries include Westwood Hills, LLC, Damascus Centre, LLC, Wayne PSC, LLC, Grande Rotunda, LLC, WestFREIT, Corp., Station Place on Monmouth, LLC., FREIT Regency, LLC and Berdan Court, LLC.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. 
