FirstRealEstateInvestmentTrustofNewJerseyInc_OTC_FREVS_2005.pdf

1、FREIT 2005First real estate investment trust of new Jerseyannual report 2005 Westridge Square Clock Tower Frederick,MDcompany profilecontentsfiscal 2005 financial highlights 1 message to our shareholders 2 properties 5 form 10-K corporate information inside back cover First Real Estate Investment Tr

2、ust of New Jersey(“FREIT”),organized in 1961,is an equity real estate investment trust.The focus of its activities has been to acquire real property for long-term investment.FREIT has elected to conduct its operations in a manner intended to comply with the requirements for qualifying as a real esta

3、te investment trust pursuant to the Federal Internal Revenue Code.As a result,FREIT receives favorable tax treatment as provided under the tax code.FREIT has recorded a profit and has paid dividends to its shareholders during each year since its founding.Hekemian&Co.,Inc.,a real estate management an

4、d brokerage company,has managed FREITs assets since its inception.FREITs offices are located at“Corporate 505”,505 Main Street,Hackensack,New Jersey.1financial highlightsYear Ended October 31,20052004200320022001Revenue:Revenue from real estate operations$33,667$30,356$25,399$19,571$18,832 expenses:

5、Real estate operations 13,671 11,459 9,133 6,460 6,566 General and administrative expenses 1,001 689 592 449 539 Depreciation 3,677 2,839 2,155 2,122 2,045 Minority interest 464 416 374 404 286 Totals 19,401 16,241 12,938 9,4689,513 Operating income 14,26614,115 12,461 10,103 9,319 Investment income

6、 229 183 201 249 680 Interest expense including amortization of deferred financing costs(10,039)(9,046)(7,838)(5,480)(5,543)Income from continuing operations 4.456 5,252 4,824 4,872 4,456 DiscontinueD opeRations:Income from discontinued operations,net of Minority Interests*9,958 741 809 244 Net inco