First Real Estate Investment Trust of New Jersey, Inc. (FREIT) reported its operating results for the fiscal quarter ended July 31, 2025.
Total real estate revenue increased 1.4% to approximately $7,244,000 in the fiscal quarter ended July 31, 2025.
Net Income was approximately $879,000 or $0.12 per share basic and diluted for the fiscal quarter ended July 31, 2025.
Revenue Growth
Total real estate revenue increased by 1.4% in the fiscal quarter.
Net Income Change
Net Income was $879,000 for the quarter, impacted by litigation settlement and reduced G&A expenses.
Occupancy Rates
Average occupancy increased slightly to 96.9% in the residential segment for the fiscal quarter.
- The increase in revenue was driven by higher base rents in the residential segment.
- Litigation settlement and reduced G&A expenses contributed to the change in Net Income.
Overall, FREIT's third-quarter results show modest growth in revenue and strategic cost management, contributing to a stable financial performance.