First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the First Quarter Ended January 31, 2024
March 15, 2024 at 11:07 am EDT
Share
First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the first quarter ended January 31, 2024. For the first quarter, the company reported sales was USD 6.45 million compared to USD 6.22 million a year ago. Revenue was USD 7 million compared to USD 6.98 million a year ago.
Net loss was USD 0.512 million compared to net income of USD 0.419 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to diluted earnings per share from continuing operations of USD 0.06 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.