Company profile

Robert S. Hekemian
Incorporated in
Fiscal year end
IRS number

FREVS stock data



10 Mar 20
1 Jun 20
31 Oct 20


Company financial data Financial data

Quarter (USD) Jan 20 Oct 19 Jul 19 Apr 19
Revenue 15.59M 15.31M 15.26M 14.79M
Net income -2.26M 343K 199K 786K
Diluted EPS -0.32 0.05 0.03 0.11
Net profit margin -14.51% 2.24% 1.30% 5.32%
Operating income 2.14M 4.57M 4.67M 4.41M
Net change in cash -6.17M 12.01M 777K 1.66M
Cash on hand 31.9M 38.08M 26.07M 25.29M
Annual (USD) Oct 19 Oct 18 Oct 17 Oct 16
Revenue 60.28M 58M 51.63M 46.25M
Net income 1.79M 1.48M 13.12M 3.01M
Diluted EPS 0.26 0.21 1.92 0.44
Net profit margin 2.96% 2.56% 25.40% 6.50%
Operating income 18.83M 19.29M 11.98M 14.57M
Net change in cash 16.33M 13.85M -3.01M -2.59M
Cash on hand 38.08M 21.75M 7.9M 10.91M

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
4 Mar 19 Artinian Ronald J Option to Purchase Shares of Beneficial Interest Grant Aquire A 15 5,000 75K 5,000

Financial report summary

Management Discussion
  • Real estate revenue for the three months ended January 31, 2020 (“Current Quarter”) increased 4.5% to $15,593,000, compared to $14,928,000 for the three months ended January 31, 2019 (“Prior Year’s Quarter”). The increase in revenue was primarily attributable to an increase in base rents across most properties and an increase in the average annual occupancy rate for the commercial space (office and retail) at the Rotunda property from an average occupancy rate of 81.2% in the Prior Year’s Quarter to 84.2% in the Current Quarter.
  • Net (loss) income attributable to common equity (“net (loss) income-common equity”) for the Current Quarter was a net loss of $2,262,000 (($0.32) per share basic and diluted), compared to net income of $459,000 ($0.07 per share basic and diluted) for the Prior Year’s Quarter. The net loss was primarily driven by $3.4 million related to Special Committee expenses for advisory and legal fees incurred in Fiscal 2020; offset by an increase in revenue as explained above (consolidated impact of approximately $0.4 million); and a decrease in interest expense of approximately $0.4 million (consolidated impact of $0.3 million) driven by a decline in interest rates on the variable mortgage loans. (Refer to the segment disclosure below for a more detailed discussion of the financial performance of FREIT’s commercial and residential segments.)
  • The condensed consolidated results of operations for the Current Quarter are not necessarily indicative of the results to be expected for the full year or any other period. The table above includes income from real estate operations which is a non-GAAP financial measure and is not a measure of operating results or cash flow as measured by GAAP, and is not necessarily indicative of cash available to fund cash needs.
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