First Real Estate Investment Trust of New Jersey, Inc. Reports Earnings Results for the Full Year Ended October 31, 2022
January 27, 2023 at 01:30 pm EST
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First Real Estate Investment Trust of New Jersey, Inc. reported earnings results for the full year ended October 31, 2022. For the full year, the company reported sales was USD 28.45 million compared to USD 44.16 million a year ago. Revenue was USD 31.27 million compared to USD 50.29 million a year ago.
Net income was USD 45.99 million compared to USD 0.927 million a year ago. Basic earnings per share from continuing operations was USD 6.52 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 6.45 compared to USD 0.13 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. 
