First Real Estate Investment Trust of New Jersey Reports Earnings Results for the Second Quarter Ended April 30, 2021
June 14, 2021 at 07:10 pm IST
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First Real Estate Investment Trust of New Jersey announced earnings results for the second quarter ended April 30, 2021. For the second quarter, the company announced total revenue was USD 12.804 million compared to USD 13.688 million a year ago. Operating income was USD 3.086 million compared to USD 3.086 million a year ago. Net income was USD 9,000 compared to USD 27.220 million a year ago. For the half year, total revenue was USD 25.558 million compared to USD 29.281 million a year ago. Operating income was USD 6.994 million compared to USD 5.228 million a year ago. Net income was USD 567,000 compared to USD 24.958 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 3.57 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 3.56 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. 
