Loading...
Docoh

First Real Estate Investment Trust of New Jersey (FREVS)

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
SEC CIK
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
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Oct 21 Oct 20 Oct 19 Oct 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
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

Beta Read what these cash burn values mean

13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

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

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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