First Real Estate Investment Trust Posts $943K Net Income in Q1 FY2026

First Real Estate Investment Trust of New Jersey, Inc., a real estate investment trust, reported net income of $943,000 for the three months ending January 31, 2026, a 54% increase from $614,000 in the same quarter a year earlier. Earnings per share rose to $0.13 from $0.08. Read more earnings reports.

Total revenue climbed 3% to $7.50 million from $7.27 million in the prior-year quarter. Operating expenses declined to $5.12 million from $5.30 million, a decrease of $180,000 that helped drive the improved bottom line.

Operating income for the quarter reached $3.82 million, up from $3.56 million a year earlier. Interest expense edged lower to $1.86 million from $1.87 million.

The company's cash position strengthened during the quarter. Cash and cash equivalents stood at $18.50 million as of January 31, 2026, up from $17.93 million three months earlier and $11.90 million a year earlier. Combined cash and restricted cash totaled $22.09 million, compared to $16.35 million in the prior-year period.

Cash from operations generated $1.35 million for the quarter, down from $1.52 million in the same period last year. Cash from investing activities contributed $911,000, while financing activities consumed $1.69 million. The company paid $747,000 in dividends during the quarter.

Total assets stood at $149.0 million as of January 31, 2026, down slightly from $149.9 million at the end of October 2025. Long-term debt decreased to $120.4 million from $120.8 million over the same period.

Stockholders' equity increased to $34.21 million from $34.04 million at the end of the prior quarter. Retained earnings rose to $1.56 million from $1.36 million. The company had 7.47 million shares outstanding as of the quarter end.