First Real Estate Investment Trust of New Jersey is an equity real estate investment trust. It acquires, develops, constructs and holds real estate properties for long-term investment and not for resale. It operates its business through the Commercial Properties and Residential Properties segments. The Commercial Properties segment contains multi-tenanted retail or office centers, a single tenanted store, as well as owns land in Rockaway and Rochelle Park, NJ. The Residential Properties segment operates multi-family apartment communities. The company was founded on November 1, 1961 and is headquartered in Hackensack, NJ.

Company profile
Ticker
FREVS
Exchange
Website
CEO
Robert S. Hekemian
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Damascus Centre, LLC • Westwood Hills, LLC • Wayne PSC, LLC • Grande Rotunda, LLC • WestFREIT, Corp. • FREIT Regency, LLC • Station Place on Monmouth, LLC • Berdan Court, LLC ...
IRS number
221697095
FREVS stock data
Calendar
14 Jun 22
9 Aug 22
31 Oct 22
Financial summary
Quarter (USD) | Apr 22 | Jan 22 | Oct 21 | Jul 21 | |
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Diluted EPS |
Annual (USD) | Oct 21 | Oct 20 | Oct 19 | Oct 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 103.95M | 103.95M | 103.95M | 103.95M | 103.95M | 103.95M |
Cash burn (monthly) | 989K | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 3.3M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 100.65M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 101.8 | n/a | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2021
13F holders | Current |
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Total holders | 0 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
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Total value | 0 |
Total shares | 0 |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
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Financial report summary
?Management Discussion
- Real estate revenue for the six months ended April 30, 2022 (“Current Six Months”) decreased 32.5% to $17,264,000, compared to $25,558,000 for the six months ended April 30, 2021 (“Prior Year’s Six Months”). For the three months ended April 30, 2022 (“Current Quarter”) real estate revenue decreased 48.3% to $6,615,000, compared to $12,804,000 for the three months ended April 30, 2021 (“Prior Year’s Quarter”).
- The decrease in revenue for the Current Six Months was primarily attributable to the following: (a) a decrease of approximately $8.5 million attributed to the Maryland Properties sold; (b) a decrease from the commercial segment of approximately $0.4 million, excluding the Maryland Properties sold, primarily attributed to approximately $0.2 million in rental revenue being deemed uncollectible and classified as a reduction in rental revenue in the Current Six Months and a $0.2 million decrease resulting from a decline in the average occupancy rate to 67.7% from 69.5% in the Prior Year’s Six Months; offset by (c) an increase from the residential segment of approximately $0.6 million, excluding the Icon at the Rotunda Property sold, driven by an increase in base rents across all properties and an increase in the average occupancy rate to 98.7% from 97.1% in the Prior Year’s Six Months.
- The decrease in revenue for the Current Quarter was primarily attributable to the following: (a) a decrease of approximately $6.2 million attributed to the Maryland Properties sold; (b) a decrease from the commercial segment of approximately $0.3 million, excluding the Maryland Properties sold, primarily attributed to approximately $0.2 million in rental revenue being deemed uncollectible and classified as a reduction in rental revenue in the Current Quarter and a $0.1 million decrease resulting from a decline in the average occupancy rate to 66.6% from 68.8% in the Prior Year’s Quarter; offset by (c) an increase from the residential segment of approximately $0.3 million, excluding the Icon at the Rotunda Property sold, primarily driven by an increase in base rents across all properties and an increase in the average occupancy rate to 98.5% from 96.8% in the Prior Year’s Quarter.
Content analysis
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Readability |
H.S. junior Avg
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New words:
County, food, grid, motion, owner, promissory, PSA, reconsider, Reconsideration, underlying, waive
Removed:
admitting, agent, asserted, authorize, claim, close, compelling, compensatory, conduct, confidential, confidentiality, consequential, contemplated, contemporaneously, contractual, convey, cure, dealing, declaratory, declaring, defense, defer, deliver, delivered, delivery, denied, denying, directing, dismissing, enjoining, equitable, exclusive, execution, faith, forfeiture, good, incidental, injunctive, irrevocable, letter, lifted, monitoring, negotiation, occurrence, pending, perform, pet, postpone, prejudice, properly, prosecution, public, rehire, relieve, remedy, reopen, response, specific, store, suffering, thereunder, trial, unconditional, written, wrongful
Financial reports
Current reports
8-K
Other Events
5 Aug 22
8-K
FREIT Announces Declaration of Special, Extraordinary, Non-Recurring Distribution of $7.50 Per Share
4 Aug 22
8-K
Other Events
12 Jul 22
8-K
FREIT Announces Second Quarter Fiscal 2022 Results
14 Jun 22
8-K
Other Events
3 Jun 22
8-K
FREIT Maryland Announces First Quarter Fiscal 2022 Results
17 Mar 22
8-K
Other Events
7 Feb 22
8-K
FREIT Maryland Announces Fourth Quarter Fiscal 2021 Results
19 Jan 22
8-K
Completion of Acquisition or Disposition of Assets
12 Jan 22
8-K
Completion of Acquisition or Disposition of Assets
6 Jan 22
Registration and prospectus
S-4/A
Registration of securities issued in business combination transactions (amended)
26 Mar 21
S-4
Registration of securities issued in business combination transactions
11 Feb 21
S-8
Registration of securities for employees
7 May 18
SC TO-I/A
Issuer tender offer statement (amended)
22 Mar 15
SC TO-I
Issuer tender offer statement
16 Feb 15
S-8
Registration of securities for employees
5 Feb 15
S-8
Registration of securities for employees
6 May 07
S-8
Registration of securities for employees
27 May 99
S-3/A
Shelf registration (amended)
2 Apr 95
Proxies
DEFA14A
Additional proxy soliciting materials
31 Mar 20
DEFA14A
Additional proxy soliciting materials
27 Mar 20
DEFA14A
Additional proxy soliciting materials
16 Mar 20
DEFM14A
Proxy related to merger
9 Mar 20
DEFA14A
Additional proxy soliciting materials
2 Mar 20
DEFA14A
Additional proxy soliciting materials
18 Feb 20
PREM14A
Preliminary proxy related to merger
13 Feb 20
DEFA14A
Additional proxy soliciting materials
15 Jan 20
DEF 14A
Definitive proxy
27 Feb 18
Other
EFFECT
Notice of effectiveness
31 Mar 21
CORRESP
Correspondence with SEC
25 Mar 21
UPLOAD
Letter from SEC
17 Feb 21
UPLOAD
Letter from SEC
8 May 16
CORRESP
Correspondence with SEC
5 May 16
UPLOAD
Letter from SEC
28 Apr 16
UPLOAD
Letter from SEC
10 Jul 13
CORRESP
Correspondence with SEC
8 Jul 13
CORRESP
Correspondence with SEC
2 Jul 13
UPLOAD
Letter from SEC
9 Jun 13
Ownership
SC 13G/A
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / ARTINIAN RONALD J ownership change
31 Jan 22
4
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / RONALD J ARTINIAN ownership change
30 Sep 20
SC 13G/A
First Real Estate Investment Trust of New Jersey
13 Feb 20
SC 13G/A
First Real Estate Investment Trust of New Jersey
3 Feb 20
4
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / RONALD J ARTINIAN ownership change
6 Mar 19
3
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / Allan Tubin ownership change
25 Feb 19
SC 13G
First Real Estate Investment Trust of New Jersey
6 Feb 19
SC 13G/A
First Real Estate Investment Trust of New Jersey
14 Jan 19
4
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / Richard Aslanian ownership change
19 Jun 18
4
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY / RONALD J ARTINIAN ownership change
5 Jun 18