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FREVS on OTC

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. is an American real estate investment trust, incorporated in New Jersey.1 It is headquartered in Hackensack, New Jersey.1 Its shares trade on OTC under the symbol FREVS.1

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Last updated Oct 21, 2026.

Overview

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  • 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:4 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

51.7%Operating margin5
12.0%Net margin5
2.2%Revenue growth, 20255
10.3%Return on equity5

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.5

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.5

Financial statements

Revenue67895$29.3M in 2025−51% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $60.3M$60.3M20192020: $52.7M$52.7M2020−13%2021: $50.3M$50.3M2021−5%2022: $31.3M$31.3M2022−38%2023: $28.3M$28.3M2023−9%2024: $28.7M$28.7M2024+1%2025: $29.3M$29.3M2025+2%
Operating income695$15.2M in 2025−19% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $18.8M$18.8M20192020: $3.8M$3.8M2020−80%2021: $13.5M$13.5M2021+259%2022: $16.0M$16.0M2022+18%2023: $14.7M$14.7M2023−8%2024: $15.1M$15.1M2024+2%2025: $15.2M$15.2M2025+1%
Net income67895$3.5M in 2025+96% since 2019
0$20.0M$40.0M$60.0M2019: $1.8M$1.8M20192020: $20.6M$20.6M2020+1050%2021: $927.0K$927.0K2021−95%2022: $46.0M$46.0M2022+4861%2023: $760.0K$760.0K2023−98%2024: $15.9M$15.9M2024+1986%2025: $3.5M$3.5M2025−78%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.5

Period ending2025-10-312024-10-312023-10-31
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 shares7.5K shares7.4K shares
Diluted (in Shares)7.5K shares7.5K shares7.4K shares

Compare FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. with another company

Corporate structure

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

  • David Hekemian Filed SCHEDULE 13G/A on FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., latest Feb 10, 2026 (4 filings since Feb 9, 2023)
  • Robert S. Hekemian Jr. Filed SCHEDULE 13G/A on FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., latest Feb 10, 2026
  • Ronald J. Artinian Filed SCHEDULE 13G/A on FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., latest Jan 28, 2026 (5 filings since Jan 31, 2022)
  • FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. Hackensack, New Jersey
    • Berdan Court, LLC Subsidiary · New Jersey, United States
    • FREIT Regency, LLC Subsidiary · New Jersey, United States
    • Grande Rotunda, LLC Subsidiary · Maryland, United States
    • Station Place on Monmouth, LLC Subsidiary · New Jersey, United States
    • Wayne PSC, LLC Subsidiary · New Jersey, United States
    • Westwood Hills, LLC Subsidiary · New Jersey, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$722.0K5 Oct 31, 2025$698.0K9 Oct 31, 2024+3.4%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$89.4M5 Oct 31, 2025$91.9M5 Oct 31, 2024−2.7%
Real estate investments, at cost$157.2M5 Oct 31, 2025$156.9M5 Oct 31, 2024+0.2%
Real estate accumulated depreciation$67.7M5 Oct 31, 2025$65.0M5 Oct 31, 2024+4.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$17.9M5 Oct 31, 2025$14.9M5 Oct 31, 2024+20.2%
Debt securities available for sale$18.2M5 Oct 31, 2025$29.3M5 Oct 31, 2024−37.9%
Stakes in other companies (equity method)$16.9M5 Oct 31, 2025$17.5M5 Oct 31, 2024−3.4%

Properties, in its own words

Portfolio of Investments: The following tables set forth certain information relating to each of FREIT's real estate investments in addition to the specific mortgages encumbering the properties.

Residential Apartment Properties as of October 31, 2025:

The rest of Item 2

Property & Location · Year Acquired · No. of Units · Average Annual Occupancy Rate for the Year Ended 10/31/25 · Average Monthly Rent per Unit @ 10/31/25* · Average Monthly Rent per Unit @ 10/31/24* · Mortgage Balance ($000) @ 10/31/25 · Depreciated Cost of Land, Buildings & Equipment ($000) @ 10/31/25

Berdan Court (1) · 1965 · 176 · 95.9% · $2,431 · $2,338 · $28,190 · $1,310

Wayne, NJ

Regency Club · 2014 · 132 · 97.5% · $2,245 · $2,111 · $13,754 (4) · $16,315

Middletown, NY

Steuben Arms · 1975 · 100 · 97.3% · $2,059 · $2,010 · $8,715 (5) · $821

River Edge, NJ

Westwood Hills (2) · 1994 · 210 · 96.3% · $2,596 · $2,536 · $24,803 · $7,567

Boulders · 2006 · 129 · 96.6% · $2,709 · $2,594 · None · $13,194

Rockaway, NJ

Station Place (3) · 2017 · 45 · 97.2% · $3,420 · $3,478 · $11,030 · $17,488

Red Bank, NJ

* Average monthly rent per unit excludes the impact of rent concessions and abatements.

(1) Berdan Court is 100% owned by Berdan Court, LLC, which is 100% owned by FREIT.

(2) FREIT owns a 40% equity interest in Westwood Hills, LLC, which owns 100% of the Westwood Hills property.

(3) Station Place is 100% owned by Station Place on Monmouth, LLC, which is 100% owned by FREIT.

(4) On December 15, 2024, the mortgage and the corresponding interest rate swap contract on its underlying loan came due with no settlement of the swap contract due at maturity. Effective December 15, 2024, FREIT Regency, LLC entered into a loan extension and modification agreement with the lender of this loan, Provident Bank, with a then outstanding loan balance of approximately $13.9 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for three years to December 15, 2027, the interest rate on the outstanding debt is based on a fixed interest rate of 6.05% and monthly installments of principal and interest of approximately $84,521 are required. See Note 5 to FREIT’s consolidated financial statements for additional details.

(5) On December 1, 2023, the mortgage came due. Provident Bank extended the initial maturity date of this loan for a 90-day period with a maturity date of March 1, 2024 and further extended this loan for another 60-day period with a new maturity date of June 1, 2024, based on the same terms and conditions of the existing loan agreement. On May 1, 2024, FREIT entered into a loan extension and modification agreement with Provident Bank, effective June 1, 2024, with a then outstanding loan balance of approximately $8.9 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for three years to May 31, 2027, requires monthly installments of principal and interest of approximately $58,016 and is based on a fixed interest rate of 6.75%. See Note 5 to FREIT's consolidated financial statements for further details.

Commercial Properties as of October 31, 2025:

Property & Location · Year Acquired · Leasable Space- Approximate Sq.Ft. · Average Annual Occupancy Rate for the Year Ended 10/31/25 · Average Annualized Rent per Sq. Ft. @ 10/31/25* · Average Annualized Rent per Sq. Ft. @ 10/31/24* · Mortgage Balance ($000) @ 10/31/25 · Depreciated Cost of Land, Buildings & Equipment ($000) @ 10/31/25

Glen Rock, NJ · 1962 · 4,672 · 100.0% · $21.53 · $22.01 · None (1) · $39

Franklin Crossing · 1966 (2) · 87,659 · 96.8% · $23.31 · $22.70 · None (1) · $5,731

Franklin Lakes, NJ

Westwood Plaza · 1988 · 174,275 · 29.1% · $19.45 · $16.21 · $9,808 (4) · $7,217

Preakness Center (3) · 2002 · 322,142 · 44.7% · $14.85 · $15.45 · $25,000 (5) · $20,591

Wayne, NJ

Rockaway, NJ · 1964/1963 · 1 Acre · 100.0% · N/A · N/A · None · $114

Land lease

* Average annualized rent per sq. ft. includes the impact of straight-line rent adjustments.

(1) These properties are security for draws against FREIT's line of credit. (See Note 5 to FREIT’s consolidated financial statements for additional details.)

(2) The original 33,000 sq. ft. shopping center was replaced with a new 87,659 sq. ft. center that opened in October 1997.

(3) FREIT owns a 40% equity interest in Wayne PSC, LLC, that owns the center.

Item 2 of the 10-K filed Jan 29, 2026.4

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.

Chair

  1. Robert S. Hekemian2006
  2. Ronald J. Artinian2022–now

President

  1. Donald W. Barney2006–2007

Chief financial officer

  1. Donald W. Barney2006–2007
  2. Allan Tubin2019–2022
2010201520202025
Board members and other officers (7)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Berdan Court, LLC New Jersey3
  • FREIT Regency, LLC New Jersey3
  • Grande Rotunda, LLC Maryland3
  • Station Place on Monmouth, LLC New Jersey3
  • Wayne PSC, LLC New Jersey3
  • Westwood Hills, LLC New Jersey3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEYMar 20, 1995 to Apr 3, 20252

Timeline

  1. Sep 30, 20268-K Shareholder vote; Other events24
  2. Sep 11, 20268-K Results of operations25
  3. Aug 7, 20268-K Shareholder vote26
  4. Jul 16, 20268-K Other events27
  5. Jul 9, 20268-K Entered a material agreement28
  6. Jun 12, 20268-K Results of operations29
  7. May 27, 20268-K Entered a material agreement30
  8. May 14, 20268-K Entered a material agreement31
  9. May 14, 20268-K Entered a material agreement; Other events32
  10. Apr 10, 20268-K Other events33
  11. Apr 9, 20268-K Entered a material agreement34
  12. Mar 17, 20268-K Financial statements and exhibits35

Calendar

Coming up

  1. Around Dec 11, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Sep 11, 2026Reported quarterly or annual results25
  2. Jun 12, 2026Reported quarterly or annual results29
  3. Jan 29, 2026Reported quarterly or annual results36
  4. Sep 12, 2025Reported quarterly or annual results37
  5. Jun 10, 2025Reported quarterly or annual results38
  6. Mar 14, 2025Reported quarterly or annual results39
  7. Jan 29, 2025Reported quarterly or annual results40
  8. Sep 13, 2024Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

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:

  1. Sep 30, 20268-K EDGAR
  2. Sep 11, 202610-Q EDGAR
  3. Sep 11, 20268-K EDGAR
  4. Aug 7, 20268-K EDGAR
  5. Aug 4, 2026DEFM14A DEFINITIVE PROXY STATEMENT EDGAR
  6. Jul 16, 20268-K EDGAR
  7. Jul 9, 20268-K CURRENT REPORT EDGAR
  8. Jun 12, 202610-Q EDGAR
  9. Jun 12, 20268-K EDGAR
  10. Jun 10, 2026DEF 14A PROXY STATEMENT EDGAR
  11. Jun 10, 2026ARS EDGAR
  12. May 28, 2026PRER14A REVISED PRELIMINARY PROXY STATEMENT EDGAR
  13. May 27, 20268-K EDGAR
  14. May 20, 2026PREM14A PRELIMINARY PROXY STATEMENT EDGAR
  15. May 14, 2026DEFA14A EDGAR
  16. May 14, 20268-K EDGAR
  17. May 14, 20268-K EDGAR
  18. Apr 10, 20268-K EDGAR
  19. Apr 9, 20268-K EDGAR
  20. 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.

DateWhoTradeSharesPriceValueFiling
Sep 27, 2024MCBRIDE DAVID FDirectorSale3,000$17.04$51.1KForm 4
Sep 17, 2024MCBRIDE DAVID FDirectorSale6,000$16.99$101.9KForm 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, 202642
  • Robert S. Hekemian Jr.SCHEDULE 13G/A, 1 filing Feb 10, 202643
  • Ronald J. ArtinianSCHEDULE 13G/A, 5 filings Jan 31, 2022 to Jan 28, 202644

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Robert S. Hekemian, Jr.President and Chief Executive Officer66$600.0K$680.0K45
2025Allan TubinTreasurer and Chief Financial Officer87$45.0K45
2025John A. Aiello, Esq.Secretary76$50.0K$745
2024Robert S. Hekemian, Jr.President and Chief Executive Officer66$600.0K$680.0K45
2024Allan TubinTreasurer and Chief Financial Officer87$45.0K45
2024John A. Aiello, Esq.Secretary76$50.0K$745
2023Robert S. Hekemian, Jr.President and Chief Executive Officer66$564.9K$643.6K45
2023Allan TubinTreasurer and Chief Financial Officer87$43.2K$43.2K45
2023John A. Aiello, Esq.Secretary76$46.5K$745

SEC filer profile

How FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.1
  • CIK0000036840
  • Employer ID (EIN)22-16970954
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsOctober 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address505 Main Street, Suite 400, Hackensack, NJ 076011
  • Phone20148864001
  • Shares outstanding7,482,432 as of Sep 11, 202611
  • Public float$100.1M as of Apr 30, 20254
  • AuditorEISNERAMPER LLP, New York, New York PCAOB ID 274; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 20, 19951
  • Filings659 in all: 8-K (222), 4 (135), 10-Q (96), 10-K (31), ARS (28), DEF 14A (26), SC 13G/A (25), UPLOAD (13)1
    All 35 form types

    CORRESP (10), 5 (9), 3 (7), DEFA14A (7), 10-Q/A (5), SC 13G (5), SCHEDULE 13G/A (5), 4/A (4), S-8 (4), 10-K/A (3), NT 10-K (3), NT 10-Q (3), DEFM14A (2), PREM14A (2), S-3/A (2), 3/A (1), 8-A12B (1), 8-A12G (1), 8-K/A (1), EFFECT (1), PRER14A (1), S-4 (1), S-4/A (1), SC 13D/A (1), SC TO-C (1), SC TO-I (1), SC TO-I/A (1)

  • Latest filingsAnnual report (10-K) Jan 29, 2026
    Quarterly report (10-Q) Sep 11, 2026
    Proxy statement (DEF 14A) Jun 10, 2026
    Latest 8-K (8-K) Sep 30, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.01 per shareFREVSNONE
Preferred Stock Purchase Rights

From the cover page of the 10-K filed Jan 29, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

Legal proceedings

There are no material pending legal proceedings to which FREIT is a party, or of which any of its properties is the subject. There is, however, ordinary and routine litigation involving FREIT's business including various tenancy and related matters. Except for the environmental conditions involving remediation disclosed in “Item 1(c) Narrative Description of Business - Impact of Governmental Laws and Regulations on Registrant’s Business; Environmental Matters,” there are no legal proceedings concerning environmental issues with respect to any property owned by FREIT.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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    SEC EDGAROther events
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