FREVS on OTC
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
American real estate investment trust, incorporated in New Jersey. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with Seven Hills Realty Trust, Franklin BSP Realty Trust, Inc. or Cedar Realty Trust, or pick any stock.
- TickerFREVS on OTC1
- IndustryReal Estate Investment Trusts1
- HeadquartersHackensack, New Jersey1
- Incorporated inNJ2
- Business address505 Main Street, Suite 400, Hackensack, Nj 076012
- Filer categoryNon-accelerated filer, Smaller reporting company2
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1 to the Consolidated Financial Statements included in this Form 10-K) include the accounts of the following subsidiaries of FREIT:3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs63¢$18.5M
- Interest25¢$7.3M
- Profit12¢$3.5M
Out of $29.3M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Dividends paid100¢$7.2M
Out of $6.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.4
| Period ending | 2025-10-31 | 2024-10-31 | 2023-10-31 |
|---|---|---|---|
| Rental income | $26.9M | $26.2M | $25.5M |
| Reimbursements | $1.9M | $1.9M | $2.4M |
| Sundry income | $529.0K | $600.0K | $465.0K |
| Total revenue | $29.3M | $28.7M | $28.3M |
| Operating expenses | $9.8M | $10.8M | $10.8M |
| Management fees | $1.4M | $1.4M | $1.3M |
| Real estate taxes | $5.9M | $6.0M | $5.9M |
| Depreciation | $3.0M | $3.0M | $2.9M |
| Total expenses | $20.1M | $21.1M | $20.9M |
| Investment income | $1.4M | $1.6M | $1.0M |
| Net loss on sale of Maryland properties | -$356.0K | -$1.0M | |
| Litigation settlement, net of fees | $15.7M | ||
| Loss on investment in tenancy-in-common | -$135.0K | -$170.0K | -$271.0K |
| Interest expense including amortization of deferred financing costs | -$7.3M | -$7.3M | -$7.7M |
| Net income (loss) | $3.1M | $16.9M | -$575.0K |
| Net loss (income) attributable to noncontrolling interests in subsidiaries | $363.0K | -$1.1M | $1.3M |
| Net income attributable to common equity | $3.5M | $15.9M | $760.0K |
| Basic (in Dollars per share) | $0.47 | $2.13 | $0.10 |
| Diluted (in Dollars per share) | $0.47 | $2.13 | $0.10 |
| Basic (in Shares) | 7.5K shares | 7.5K shares | 7.4K shares |
| Diluted (in Shares) | 7.5K shares | 7.5K shares | 7.4K shares |
| Period ending | 2025-10-31 | 2025-07-31 | 2025-04-30 | 2025-01-31 | 2024-10-31 | 2024-07-31 | 2024-04-30 | 2024-01-31 |
|---|---|---|---|---|---|---|---|---|
| Total revenue | $7.5M | $7.2M | $7.3M | $7.3M | $7.3M | $7.1M | $7.3M | $7.0M |
| Net income (loss) | $1.1M | $739.0K | $781.0K | $501.0K | $865.0K | $16.3M | $399.0K | -$666.0K |
| Net loss (income) attributable to noncontrolling interests in subsidiaries | -$3.0K | $140.0K | $113.0K | $113.0K | $175.0K | -$1.5M | $134.0K | $154.0K |
| Net income attributable to common equity | $1.1M | $879.0K | $894.0K | $614.0K | $1.0M | $14.8M | $533.0K | -$512.0K |
| Basic (in Dollars per share) | $0.15 | $0.12 | $0.12 | $0.08 | $0.15 | $1.98 | $0.07 | -$0.07 |
| Diluted (in Dollars per share) | $0.15 | $0.12 | $0.12 | $0.08 | $0.15 | $1.98 | $0.07 | -$0.07 |
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| Real estate, at cost, net of accumulated depreciation | $89.4M | $91.9M | ||
| Construction in progress | $968.0K | $944.0K | ||
| Cash and cash equivalents | $17.9M | $14.9M | $13.2M | |
| Investment in U.S. Treasury securities available-for-sale | $18.2M | $29.3M | ||
| Investment in tenancy-in-common | $16.9M | $17.5M | ||
| Tenants' security accounts | $833.0K | $913.0K | ||
| Receivables arising from straight-lining of rents | $472.0K | $572.0K | ||
| Accounts receivable, net of allowance for doubtful accounts of $258 and $272 as of October 31, 2025 and 2024, respectively | $201.0K | $498.0K | ||
| Prepaid expenses and other assets | $4.5M | $5.0M | ||
| Deferred charges, net | $238.0K | $277.0K | ||
| Interest rate swap contracts | $210.0K | $506.0K | ||
| Total Assets | $149.9M | $162.3M | ||
| Mortgages payable, including deferred interest of $0 and $222 as of October 31, 2025 and 2024, respectively | $121.3M | $128.9M | ||
| Less unamortized debt issuance costs | $516.0K | $799.0K | ||
| Mortgages payable, net | $120.8M | $128.1M | ||
| Accounts payable and accrued expenses | $665.0K | $857.0K | ||
| Dividends payable | $747.0K | $5.2M | ||
| Tenants' security deposits | $1.1M | $1.2M | ||
| Deferred revenue | $843.0K | $722.0K | ||
| Total Liabilities | $124.2M | $136.1M | ||
| Common stock with par value of $0.01 per share: 20,000,000 shares authorized; 7,471,344 and 7,462,993 shares issued at October 31, 2025 and 2024, respectively | $75.0K | $75.0K | ||
| Additional paid-in-capital | $32.4M | $32.3M | ||
| Retained earnings | $1.4M | $541.0K | ||
| Accumulated other comprehensive income | $211.0K | $494.0K | ||
| Total Common Equity | $34.0M | $33.4M | ||
| Noncontrolling interests in subsidiaries | -$8.3M | -$7.2M | ||
| Total Equity | $25.7M | $26.2M | $18.5M | $24.7M |
| Total Liabilities and Equity | $149.9M | $162.3M | ||
| Allowance for doubtful accounts | $258.0K | $272.0K | ||
| Deferred interest | $0 | $222.0K | ||
| Preferred stock, par value (in Dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in Shares) | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued (in Shares) | 0 shares | 0 shares | ||
| Common stock par value (in Dollars per share) | $0.01 | $0.01 | ||
| Common stock shares authorized (in Shares) | 20.0M shares | 20.0M shares | ||
| Common stock shares issued (in Shares) | 7.5M shares | 7.5M shares |
| Period ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| Real estate, at cost, net of accumulated depreciation | $89.4M | $91.9M | ||
| Construction in progress | $968.0K | $944.0K | ||
| Cash and cash equivalents | $17.9M | $14.9M | $13.2M | |
| Investment in U.S. Treasury securities available-for-sale | $18.2M | $29.3M | ||
| Investment in tenancy-in-common | $16.9M | $17.5M | ||
| Tenants' security accounts | $833.0K | $913.0K | ||
| Receivables arising from straight-lining of rents | $472.0K | $572.0K | ||
| Accounts receivable, net of allowance for doubtful accounts of $258 and $272 as of October 31, 2025 and 2024, respectively | $201.0K | $498.0K | ||
| Prepaid expenses and other assets | $4.5M | $5.0M | ||
| Deferred charges, net | $238.0K | $277.0K | ||
| Interest rate swap contracts | $210.0K | $506.0K | ||
| Total Assets | $149.9M | $162.3M | ||
| Mortgages payable, including deferred interest of $0 and $222 as of October 31, 2025 and 2024, respectively | $121.3M | $128.9M | ||
| Less unamortized debt issuance costs | $516.0K | $799.0K | ||
| Mortgages payable, net | $120.8M | $128.1M | ||
| Accounts payable and accrued expenses | $665.0K | $857.0K | ||
| Dividends payable | $747.0K | $5.2M | ||
| Tenants' security deposits | $1.1M | $1.2M | ||
| Deferred revenue | $843.0K | $722.0K | ||
| Total Liabilities | $124.2M | $136.1M | ||
| Common stock with par value of $0.01 per share: 20,000,000 shares authorized; 7,471,344 and 7,462,993 shares issued at October 31, 2025 and 2024, respectively | $75.0K | $75.0K | ||
| Additional paid-in-capital | $32.4M | $32.3M | ||
| Retained earnings | $1.4M | $541.0K | ||
| Accumulated other comprehensive income | $211.0K | $494.0K | ||
| Total Common Equity | $34.0M | $33.4M | ||
| Noncontrolling interests in subsidiaries | -$8.3M | -$7.2M | ||
| Total Equity | $25.7M | $26.2M | $18.5M | $24.7M |
| Total Liabilities and Equity | $149.9M | $162.3M | ||
| Allowance for doubtful accounts | $258.0K | $272.0K | ||
| Deferred interest | $0 | $222.0K | ||
| Preferred stock, par value (in Dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in Shares) | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued (in Shares) | 0 shares | 0 shares | ||
| Common stock par value (in Dollars per share) | $0.01 | $0.01 | ||
| Common stock shares authorized (in Shares) | 20.0M shares | 20.0M shares | ||
| Common stock shares issued (in Shares) | 7.5M shares | 7.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-10-31 | 2024-10-31 | 2023-10-31 |
|---|---|---|---|
| Net income (loss) | $3.1M | $16.9M | -$575.0K |
| Net loss on sale of Maryland properties | $356.0K | $1.0M | |
| Depreciation | $3.0M | $3.0M | $2.9M |
| Amortization | $549.0K | $647.0K | $612.0K |
| Stock based compensation expense | $1.0K | $11.0K | |
| Directors fees and related interest paid in stock units | $26.0K | ||
| Stock awards granted to directors | $140.0K | $141.0K | $140.0K |
| Loss on investment in tenancy-in-common | $135.0K | $170.0K | $271.0K |
| Deferred rents - straight line rent | $100.0K | $118.0K | $100.0K |
| Bad debt expense | $107.0K | $116.0K | $16.0K |
| Accreted interest on investment in U.S. Treasury securities | -$800.0K | -$801.0K | -$353.0K |
| Tenants' security accounts | -$73.0K | -$57.0K | -$23.0K |
| Accounts receivable, prepaid expenses and other assets | $59.0K | -$48.0K | $152.0K |
| Accounts payable, accrued expenses and deferred director compensation payable | $21.0K | -$448.0K | -$2.0M |
| Deferred revenue | $121.0K | $54.0K | $311.0K |
| Deferred interest on mortgage | -$222.0K | ||
| Net cash provided by operating activities | $6.2M | $20.2M | $2.7M |
| Cash outlays from sale of Maryland properties, net | -$356.0K | -$1.0M | |
| Purchase of U.S. Treasury securities | -$48.2M | -$45.7M | -$38.4M |
| Proceeds from maturities of U.S. Treasury securities | $60.1M | $40.8M | $15.2M |
| Capital improvements - existing properties | -$759.0K | -$1.2M | -$1.3M |
| Deferred leasing costs | -$51.0K | -$89.0K | -$170.0K |
| Distribution from investment in tenancy-in-common | $455.0K | $455.0K | $390.0K |
| Net cash provided by(used in) investing activities | $11.5M | -$6.1M | -$25.3M |
| Repayment of mortgages | -$7.3M | -$9.3M | -$26.5M |
| Proceeds from mortgage loan refinancings | $25.5M | ||
| Proceeds from exercise of stock options | $38.0K | $1.3M | |
| Deferred financing costs | -$176.0K | -$206.0K | -$481.0K |
| Dividends paid | -$7.2M | -$1.5M | -$13.7M |
| Distributions to noncontrolling interests in subsidiaries | -$794.0K | -$2.2M | -$3.5M |
| Net cash used in financing activities | -$15.5M | -$13.2M | -$17.5M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $2.3M | $867.0K | -$40.1M |
| Interest paid | $7.0M | $6.8M | $7.2M |
| Accrued capital expenditures, construction costs and pre-development costs | $27.0K | $237.0K | $210.0K |
| Dividends declared but not paid | $747.0K | $5.2M | $372.0K |
No quarter-by-quarter statement was filed.
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Leadership
Who has led FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
2010201520202025
- ChairRonald J. Artinian Nov 1, 2022 to now12
- ChairRobert S. Hekemian Oct 24, 2006 to Oct 24, 200613
- PresidentDonald W. Barney Nov 1, 2006 to Dec 14, 200714
- Chief financial officerAllan Tubin Feb 25, 2019 to Oct 20, 202215
- Chief financial officerDonald W. Barney Nov 1, 2006 to Dec 14, 200714
Board members and other officers (7)
- Trustee & Executive SecretaryJohn A. Aiello Dec 23, 2015 to now16
- Board memberJustin Meng Oct 14, 2022 to now17
- Board memberRichard Aslanian Oct 14, 2022 to now18
- Board memberDavid Hekemian Oct 27, 2022 to now19
- Board memberJohn A. Aiello Oct 28, 2022 to now20
- Board memberDavid F. McBride Jun 28, 2007 to now21
- Board memberDonald W. Barney Dec 14, 2007 to Dec 14, 200722
Former names
- FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEYMar 20, 1995 to Apr 3, 20252
Filings
158 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 66 major events, 46 insider forms, 10 large holders, 16 other. The latest 20:
- Sep 30, 20268-K EDGAR
- Sep 11, 202610-Q EDGAR
- Sep 11, 20268-K EDGAR
- Aug 7, 20268-K EDGAR
- Aug 4, 2026DEFM14A DEFINITIVE PROXY STATEMENT EDGAR
- Jul 16, 20268-K EDGAR
- Jul 9, 20268-K CURRENT REPORT EDGAR
- Jun 12, 202610-Q EDGAR
- Jun 12, 20268-K EDGAR
- Jun 10, 2026DEF 14A PROXY STATEMENT EDGAR
- Jun 10, 2026ARS EDGAR
- May 28, 2026PRER14A REVISED PRELIMINARY PROXY STATEMENT EDGAR
- May 27, 20268-K EDGAR
- May 20, 2026PREM14A PRELIMINARY PROXY STATEMENT EDGAR
- May 14, 2026DEFA14A EDGAR
- May 14, 20268-K EDGAR
- May 14, 20268-K EDGAR
- Apr 10, 20268-K EDGAR
- Apr 9, 20268-K EDGAR
- Mar 17, 20268-K EDGAR
The 158 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 27, 2024 | MCBRIDE DAVID FDirector | Sale | 3,000 | $17.04 | $51.1K | Form 4 |
| Sep 17, 2024 | MCBRIDE DAVID FDirector | Sale | 6,000 | $16.99 | $101.9K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- David HekemianSCHEDULE 13G/A, 4 filings Feb 9, 2023 to Feb 10, 202623
- Robert S. Hekemian Jr.SCHEDULE 13G/A, 1 filing Feb 10, 202624
- Ronald J. ArtinianSCHEDULE 13G/A, 5 filings Jan 31, 2022 to Jan 28, 202625
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARRonald J. Artinian, Chair
- 13SEC EDGARRobert S. Hekemian, Chair
- 14SEC EDGARDonald W. Barney, President
- 15SEC EDGARAllan Tubin, Chief financial officer
- 16
- 17SEC EDGARJustin Meng, Board member
- 18SEC EDGARRichard Aslanian, Board member
- 19SEC EDGARDavid Hekemian, Board member
- 20SEC EDGARJohn A. Aiello, Board member
- 21SEC EDGARDavid F. McBride, Board member
- 22SEC EDGARDonald W. Barney, Board member
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