FREIT FY26 Q2 net income falls to $0.6 million; revenue rises 5.2% to $7.6 million

FIRST REAL ESTATE INV TST N JERSEY

FIRST REAL ESTATE INV TST N JERSEY

FREVS

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  • FREIT posted Q2 net income attributable to common equity of USD 616,000, down 31.1%, with EPS of USD 0.08 versus USD 0.12.
  • Revenue rose 5.2% to USD 7.63 million, while AFFO per share fell to USD 0.16 from USD 0.23.
  • Residential occupancy slipped 1.4 percentage points to 95.7%; commercial occupancy edged down 0.6 percentage points to 47.6%.
  • Board approved a voluntary liquidation plan; estimated distributions to stockholders of USD 24.44 to USD 30.03 per share, pending a fall 2026 vote.
  • Agreed to sell Franklin Crossing for USD 27 million, expected to close in Q3 2026; Westwood Plaza sale for USD 28.8 million targeted for early 2027.


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