First Real Estate Investment Trust of New Jersey Reports Earnings Results for the First Quarter Ended January 31, 2020
March 10, 2020 at 05:33 pm
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First Real Estate Investment Trust of New Jersey announced earnings results for the first quarter ended January 31, 2020. For the first quarter, the company announced total revenue was USD 15.593 million compared to USD 14.928 million a year ago. Operating income was USD 2.142 million compared to USD 5.170 million a year ago. Net loss was USD 2.262 million compared to net income of USD 459,000 a year ago. Basic loss per share from continuing operations was USD 0.32 compared to basic earnings per share from continuing operations of USD 0.07 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. 
