On this page of StockholderLetter.com we present the latest annual shareholder letter from FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY — ticker symbol FREVS. Reading current and past FREVS letters to shareholders can bring important insights into the investment thesis.

 •  5/29/2025 Letter Continued (Full PDF)
 •  4/28/2023 FREVS Stockholder Letter
 •  5/13/2024 FREVS Stockholder Letter
 •  More "Miscellaneous" Category Stockholder Letters
 •  FREVS Benford's Law Stock Score = 55

FREVS Shareholder/Stockholder Letter Transcript:

Annual Report 2024
First Real Estate Investment Trust of New Jersey, Inc.
freitnj.com

Board
Board of
of Directors
Directors
OFFICERS
Robert S. Hekemian, Jr.
  3UHVLGHQW DQG &KLHI ([HFXWLYH 2  FHU
Ronald J. Artinian
  &KDLUPDQ RI WKH %RDUG 
Allan Tubin
  7UHDVXUHU DQG &KLHI )LQDQFLDO 2  FHU
John A. Aiello, Esq.
Secretary
DIRECTORS
John A. Aiello, Esq.
  6KDUHKROGHU DQG 2  FHU  *LRUGDQR  +DOOHUDQ   &LHVOD  3 & 
Ronald J. Artinian (1) (2)
  3ULYDWH   QYHVWRU
Richard Aslanian (2) (4)
  &R IRXQGHU  :HOFRPH +RPH %UDQGV  //&
David B. Hekemian
  3UHVLGHQW  +HNHPLDQ   &R     QF 
Robert S. Hekemian, Jr.
  &KLHI ([HFXWLYH 2  FHU  +HNHPLDQ   &R     QF 
David F. McBride, Esq. (2) (3) (4)
  &KLHI ([HFXWLYH 2  FHU  0F%ULGH (QWHUSULVHV    QF 
Justin F. Meng (4)
  693  +HDG RI   QYHVWRU 5HODWLRQV DW 3URORJLV    QF  
Chairman of Audit Committee
Member of Audit Committee
(3) Chairman of Compensation Committee
(4) Member of Compensation Committee
(1)
(2)
Tableof
ofContents
Contents
Table
Financial Statement ................ 1
Letter to Stockholders ............ 2
Data .......................................... 2
Current Holdings ..................... 4
Form 10K .................................. 5

Financial Statement
Statement
Financial
BALANCE SHEET DATA:
As At October 31,
2024
2023
2022
2021
2020
(In Thousands)
7RWDO DVVHWV






0RUWJDJH ORDQV






&RPPRQ HTXLW\





:HLJKWHG DYHUDJH VKDUHV RXWVWDQGLQJ 
%DVLF 
'LOXWHG











2023
2022
2021
2020
INCOME STATEMENT DATA:
Years Ended October 31,
2024
(In Thousands of Dollars, Except Per Share Amounts)
5HYHQXH IURP UHDO HVWDWH RSHUDWLRQV







([SHQVHV 
5HDO HVWDWH RSHUDWLQJ H[SHQVHV
7KLUG SDUW\ WUDQVDFWLRQ FRVWV
*HQHUDO DQG DGPLQLVWUDWLYH H[SHQVHV
'HSUHFLDWLRQ 
7HQDQW LPSURYHPHQW ZULWH RII GXH WR &29,'   
7RWDO H[SHQVHV



















,QYHVWPHQW LQFRPH
/LWLJDWLRQ VHWWOHPHQW  QHW RI IHHV
1HW  ORVV  JDLQ RQ VDOH RI 0DU\ODQG SURSHUWLHV
1HW UHDOL]HG JDLQ RQ :D\QH 36& LQWHUHVW UDWH VZDS WHUPLQDWLRQ 
*DLQ RQ GHFRQVROLGDWLRQ RI VXEVLGLDU\
/RVV RQ LQYHVWPHQW LQ WHQDQF\ LQ FRPPRQ
,QWHUHVW H[SHQVH LQFOXGLQJ DPRUWL]DWLRQ
RI GHIHUUHG ILQDQFLQJ FRVWV
1HW LQFRPH  ORVV



























1HW  LQFRPH  ORVV DWWULEXWDEOH WR QRQFRQWUROOLQJ LQWHUHVWV LQ VXEVLGLDULHV








(DUQLQJV SHU VKDUH   EDVLF






(DUQLQJV SHU VKDUH   GLOXWHG





&DVK GLYLGHQGV GHFODUHG SHU FRPPRQ VKDUH





1HW LQFRPH DWWULEXWDEOH WR FRPPRQ HTXLW\
1

5/29/2025 Letter Continued (Full PDF)

 

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.