First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended July 31, 2023
September 14, 2023 at 10:45 am EDT
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First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the third quarter and nine months ended July 31, 2023. For the third quarter, the company reported sales was USD 6.51 million compared to USD 6.32 million a year ago. Revenue was USD 7.3 million compared to USD 6.96 million a year ago. Net loss was USD 0.412 million compared to net income of USD 1.12 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to basic earnings per share from continuing operations of USD 0.16 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to diluted earnings per share from continuing operations of USD 0.16 a year ago.
For the nine months, sales was USD 19.08 million compared to USD 22.1 million a year ago. Revenue was USD 21.19 million compared to USD 24.22 million a year ago. Net income was USD 0.104 million compared to USD 46.55 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 6.61 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 6.56 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. 
