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FREVS
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
18.90
+0.00 +0.00%
USD · close Oct 30
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Work order
—
not graded: no insider, short or call data yet
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $141.4MP/E 6.2DIV YIELD —FCF YIELD 3.56%REV TTM $30.2M +4.1%NET INCOME $22.8M +566.5%NET DEBT $98.2M52W 11.01 – 22.57SEC XBRL · TTM TO Invalid Date
How FREVS rewrote its risk factors
Text kept
85%
of sentences unchanged
Added
7
new sentences
Dropped
7
sentences removed
Length
−17
words, now 2,656
New in FY2025
- However, there have been many factors impacting long-term economic growth, including, without limitation: (i) continued political gridlock in the federal government; (ii) regulatory uncertainties; (iii) continued infrastructure deterioration; (iv) increasing concerns regarding terrorism; (v) rising healthcare costs; (vi) the impact of trade policies and tariffs; and (vii) rising energy, wages and consumer prices which previously resulted in an increase in inflation along with an increase in interest rates.
- Development and construction risks : From time to time, FREIT engages in the development and construction of property.
- Debt financing could adversely affect income and cash flow: FREIT relies on debt financing to fund its operations and development activities.
- To the extent third party debt financing is not available on acceptable terms, FREIT’s operations and development and construction activities will be adversely affected.
- As of October 31, 2025, FREIT had approximately $121.3 million of non-recourse fixed interest rate mortgage debt, and no non-recourse variable interest rate mortgage debt.
- FREIT’s revolving $13 million credit line (of which $13 million was available as of October 31, 2025), and several of its loan agreements require FREIT or its subsidiaries to meet or maintain certain financial covenants that could restrict FREIT’s acquisition activities and result in a default on these loans if FREIT fails to satisfy these covenants.
- Such a revocation would subject FREIT’s income to federal income tax at regular corporate rates, and failure to qualify as a REIT would eliminate the requirement that FREIT pay dividends to its stockholders.
Gone since FY2024
- However, there have been many factors impacting long-term economic growth, including, without limitation: (i) continued political gridlock in the federal government; (ii) regulatory uncertainties; (iii) continued infrastructure deterioration; (iv) increasing concerns regarding terrorism; (v) rising healthcare costs; (vi) the impact of trade policies; and more recently, (vii) rising energy, wages and consumer prices driving an increase in inflation along with an increase in interest rates.
- Development and construction risks : As part of its investment strategy, FREIT seeks to acquire property for development and construction, as well as to develop and build on land already in its portfolio.
- Debt financing could adversely affect income and cash flow: FREIT relies on debt financing to fund its growth through acquisitions and development activities.
- To the extent third party debt financing is not available or not available on acceptable terms, acquisitions and development activities will be curtailed.
- As of October 31, 2024, FREIT had approximately $128.9 million of non-recourse fixed interest rate mortgage debt, including deferred interest, and no non-recourse variable interest rate mortgage debt.
- FREIT’s revolving $13 million credit line (of which $13 million was available as of October 31, 2024), and several of its loan agreements require FREIT or its subsidiaries to meet or maintain certain financial covenants that could restrict FREIT’s acquisition activities and result in a default on these loans if FREIT fails to satisfy these covenants.
- Such a revocation would subject FREIT’s income to federal income tax at regular corporate rates, and failure to qualify as a REIT would also eliminate the requirement that FREIT pay dividends to its stockholders.
Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.