FirstRealEstateInvestmentTrustofNewJerseyInc_OTC_FREVS_2019.pdf

1、FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEYANNUAL REPORT1Dear Fellow Shareholders,Our property operating results improved in Fiscal 2019.Total revenue increased to$59.9 million from$57.4 million,and total net operating income increased to$33.8 million from$32.5 million.Average residential occup

2、ancy increased to 95.2%from 94.4%and average commercial occupancy increased to 81.5%from 80.6%.Overall,it was a year of steady progress.Adjusted Funds from Operations decreased modestly to$1.60 per share from$1.63 in the prior year,primarily due to costs associated with the exploration of strategic

3、alternatives.On January 15,2020,FREIT announced that it had entered into an agreement to sell seven apartment communities for$266.5 million.The Board concurrently approved a plan of voluntary liquidation.For current developments and information regarding?voluntary liquidation.?played a role in its g

4、rowth over the years.?Sincerely,?2$0$20$40$60$80$100$120$14010/1410/1510/1610/1710/1810/19COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*Among First Real Estate Investment Trust,the Russell 2000 Index and the FTSE Nareit Equity REITs IndexFirst Real Estate Investment TrustRussell 2000FTSE Nareit Equit

5、y REITs*$100 invested on 10/31/14 in stock or index,including reinvestment of dividends.Fiscal year ending October 31.?Dividends Per ShareCommercial Net Operating IncomeResidential Net Operating Income(a)(a)includes$0.38 capital gain dividend3BALANCE SHEET DATA:As At October 31,20192018201720162015?

6、INCOME STATEMENT DATA:Years Ended October 31,20192018201720162015?(In Thousands)(In Thousands of Dollars,Except Per Share Amounts)2019?2019?4CommercialResidentialMixed-UseUndevelopedMARYLANDDamascus(a)Damascus CenterBaltimore(e)The Rotunda&ICON ResidencesFrederick Westridge SquareNEW JERSEYWayne(b)P