First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the Fourth Quarter Ended October 31, 2022
January 27, 2023 at 01:33 pm EST
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First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the fourth quarter ended October 31, 2022. For the fourth quarter, the company reported sales was USD 7.05 million compared to USD 12.19 million a year ago. Revenue was USD 7.05 million compared to USD 12.19 million a year ago.
Net loss was USD 0.554 million compared to net income of USD 0.151 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.02 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. 
