First Real Estate Investment Trust of New Jersey (FREVS) reported third-quarter fiscal 2026 real estate revenue of $7.5 million, up 4.0% from the prior-year period. Net income attributable to common equity was $20.2 million, or $2.69 per basic and diluted share.
Results included a $19.8 million net gain from the July 8 sale of the Franklin Crossing shopping center. FREIT also said stockholders will vote September 29 on its voluntary liquidation plan.
- Total real estate revenue was $7.537 million, compared with $7.244 million a year earlier.
- Residential revenue was $5.691 million and commercial revenue was $1.846 million.
- FREIT sold Franklin Crossing for $27.0 million, generating approximately $25.4 million in net proceeds.
- The company agreed to sell Westwood Plaza for $28.8 million, with closing expected in early 2027.
- The board declared a $0.10-per-share dividend payable September 14 to shareholders of record August 31.
- The estimated liquidation distribution range is $24.44 to $30.03 per share, subject to stockholder approval and other factors stated by the company.
