First Real Estate Investment Trust of New Jersey Declares $0.10 Quarterly Dividend
First Real Estate Investment Trust of New Jersey declared a quarterly dividend of $0.10 per share, payable March 13 to shareholders of record February 27. The Board will continue to evaluate the dividend on a quarterly basis.
First Real Estate Investment Trust of New Jersey, a REIT focused on residential and commercial properties in New Jersey, declared a first quarter dividend of $0.10 per share on its common stock. The dividend was payable to shareholders of record at the close of business on February 27, 2026. Read more dividend announcements.
The Board of Directors indicated it will continue to evaluate the dividend on a quarterly basis.
| Dividend Details | Date |
|---|---|
| Amount per Share | $0.10 |
| Record Date | February 27, 2026 |
| Payment Date | March 13, 2026 |
| Frequency | Quarterly |
Quarterly Financial Results
For the fiscal quarter ended January 31, 2026, the company reported net income of $802,000, up from $501,000 in the prior year period. Net income attributable to common equity reached $943,000 compared to $614,000 a year earlier, after accounting for losses attributable to noncontrolling interests.
Earnings per share came in at $0.13 on both a basic and diluted basis, up from $0.08 in the prior year quarter. The weighted average shares outstanding totaled 7,471,000.
Property Operations
Net operating income from the company's residential properties increased to approximately $3,214,000 for the quarter from approximately $2,994,000 in the year-ago period. Commercial properties generated NOI of approximately $609,000, up from approximately $567,000 in the prior year quarter.
Funds From Operations
Funds From Operations, a standard REIT performance metric, totaled $1,575,000 for the quarter, or $0.21 per share on a basic and diluted basis. This compared to FFO of $1,255,000, or $0.17 per share, in the prior year period.
Financing Developments
The company continues to work with ConnectOne Bank on a potential modification and extension of a $25,000,000 mortgage secured by the Preakness shopping center in Wayne, New Jersey. The loan, which reached its maturity date on August 1, 2025, has received several extensions, most recently through May 1, 2026.
Wayne PSC, LLC, the entity that owns the property, continues to evaluate all options for refinancing or replacing the loan. Management expects the loan to be further extended under the same terms and conditions of the existing loan agreement.