First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended April 30, 2023
June 14, 2023 at 10:56 am EDT
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First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the second quarter and six months ended April 30, 2023. For the second quarter, the company reported sales was USD 6.35 million compared to USD 6.02 million a year ago. Revenue was USD 6.92 million compared to USD 6.62 million a year ago. Net income was USD 0.097 million compared to net loss of USD 0.352 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
For the six months, sales was USD 12.57 million compared to USD 15.78 million a year ago. Revenue was USD 13.9 million compared to USD 17.26 million a year ago. Net income was USD 0.516 million compared to USD 45.43 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 6.46 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 6.4 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. 
