A Business at a Glance
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FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
FREVS
$158M
Mkt Cap
$21.15
-1.49%
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a current P/E ratio of 9.9, compared to its historical median P/E of 7.9. The stock is currently considered Fair based on its historical valuation range.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a 5-year average return on invested capital (ROIC) of 17.1%. This indicates strong capital allocation and a potential competitive advantage.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a market capitalization of $158K. It is classified as a small-cap stock.
Yes, FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) pays a dividend with a trailing twelve-month yield of 1702.41%.
Based on historical P/E analysis, FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) appears fair. The current P/E of 9.9 is 25% above its historical median of 7.9. The estimated fair value CAGR (P/E method) is 13.9%.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
(a) General Business First Real Estate Investment Trust of New Jersey was organized on November 1, 1961 as a New Jersey Business Trust. On July 1, 2021, First Real Estate Investment Trust of New Jersey completed the change of its form of organization from a New Jersey real estate investment trust (“REIT”) to a Maryland corporation (the “Reincorporation”) which was approved by its stockholders at the annual meeting of stockholders held on May 6, 2021. The Reincorporation changed the law applicable to First Real Estate Investment Trust of New Jersey’s affairs from New Jersey law to Maryland law and was accomplished by the merger of First Real Estate Investment Trust of New Jersey with and into its wholly owned subsidiary, First Real Estate Investment Trust of New Jersey, Inc. (“FREIT”, “Trust”, “us”, “we”, “our” or the “Company”), a Maryland corporation.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 30M | 29M | 29M | 28M | 31M | 50M |
| Net Income | 3.8M | 3.5M | 16M | 760K | 46M | 927K |
| EPS | $513.89 | $0.47 | $2.13 | $0.10 | $6.45 | $0.13 |
| Free Cash Flow | 6.0M | 5.5M | 19M | 1.4M | 5.7M | 10M |
| ROIC | 7.0% | 39.4% | 21.9% | 12.3% | 7.7% | 4.4% |
| Gross Margin | - | 86.1% | - | - | - | - |
| Debt/Equity | 3.90 | 1.78 | 4.08 | 5.59 | 5.33 | 8.20 |
| Dividends/Share | $360.06 | $0.96 | $0.20 | $1.81 | $9.20 | $0.14 |
| Operating Income | 15M | 15M | 15M | 15M | 16M | 14M |
| Operating Margin | 52.2% | 51.7% | 52.5% | 51.8% | 51.1% | 26.8% |
| ROE | 11.2% | 10.4% | 54.8% | 3.0% | 147.2% | 2.6% |
| Shares Outstanding | 0M | 7M | 7M | 8M | 7M | 7M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 42M | 45M | 46M | 52M | 58M | 60M | 53M | 50M | 31M | 28M | 29M | 29M | 30M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 86.1% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.4M | 2.0M | 2.0M | 2.1M | 2.3M | 2.6M | 3.8M | 5.2M | 5.0M | 4.2M | 4.4M | 2.9M | 2.8M |
| EBIT | 15M | 14M | 15M | 12M | 19M | 19M | 3.8M | 14M | 16M | 15M | 15M | 15M | 15M |
| Op. Margin | 35.8% | 30.7% | 31.5% | 23.2% | 33.3% | 31.2% | 7.1% | 26.8% | 51.1% | 51.8% | 52.5% | 51.7% | 52.2% |
| Net Income | 12M | 2.6M | 3.0M | 13M | 1.5M | 1.8M | 21M | 927K | 46M | 760K | 16M | 3.5M | 3.8M |
| Net Margin | 27.5% | 5.9% | 6.5% | 25.4% | 2.6% | 3.0% | 39.0% | 1.8% | 147.1% | 2.7% | 55.3% | 12.0% | 13.0% |
| Non-Recurring | 0 | 0 | 314K | 15M | 0 | 836K | 0 | 0 | 69M | -1.0M | -356K | 31M | 31M |
| Returns on Capital | |||||||||||||
| ROIC | 6.6% | 5.0% | 4.7% | 3.7% | 5.7% | 5.6% | 5.8% | 4.4% | 7.7% | 12.3% | 21.9% | 39.4% | 7.0% |
| ROE | 76.2% | 22.6% | 57.9% | 126.9% | 7.5% | 9.6% | 81.2% | 2.6% | 147.2% | 3.0% | 54.8% | 10.4% | 11.2% |
| ROA | 4.3% | 0.8% | 0.8% | 3.5% | 0.4% | 0.5% | 5.5% | 0.4% | 31.2% | 0.5% | 9.9% | 2.2% | 2.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 12M | 8.1M | 3.5M | 13M | 15M | 3.9M | 12M | 7.3M | 2.7M | 20M | 6.2M | 6.1M |
| Free Cash Flow | 4.3M | 4.0M | -1.9M | -6.6M | 7.8M | 12M | 1.8M | 10M | 5.7M | 1.4M | 19M | 5.5M | 6.0M |
| Owner Earnings | 6.0M | 5.1M | 114K | -7.3M | 1.5M | 3.2M | -6.5M | 2.9M | 2.1M | -274K | 17M | 3.3M | 3.1M |
| CapEx | 8.1M | 8.1M | 9.9M | 10M | 5.3M | 3.1M | 2.0M | 1.9M | 1.6M | 1.3M | 1.2M | 759K | 43K |
| Maint. CapEx | 6.3M | 6.9M | 7.9M | 11M | 12M | 11M | 10M | 9.3M | 4.0M | 2.9M | 3.0M | 3.0M | 3.0M |
| Growth CapEx | 1.7M | 1.2M | 2.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 6.3M | 6.9M | 7.9M | 11M | 12M | 11M | 10M | 9.3M | 4.0M | 2.9M | 3.0M | 3.0M | 3.0M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 1.1% | N/A | N/A | 0.5% | 7.8% | 1.2% | N/A | 0.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 11M | 8.1M | 8.1M | 3.0M | 676K | 3.0M | 1.4M | 1.0M | 54M | 14M | 1.5M | 7.2M | 2.7M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 4.7% | N/A | N/A | 52.9% | 12.3% | 1.3% | N/A | 1702.4% |
| Share Buybacks | 2.2M | 2.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | N/A | 0.0% | 0.0% | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 16K | 94K | 94K | 122K | 130K | 124K | 46K | 42K | 1.2M | 11K | 1K | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 162K | 162M | 623K | 623K | 213K | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 237M | 291M | 316M | 314M | 325M | 312M | 282M | 264M | 88M | 100M | N/A | 25M | 98M |
| Cash & Equiv. | 11M | 14M | 11M | 7.9M | 22M | 38M | 37M | 36M | 50M | 13M | 15M | 18M | 36M |
| Long-Term Debt | 248M | 305M | 327M | 322M | 347M | 350M | 305M | 300M | 138M | 137M | N/A | 61M | 120M |
| Debt/Equity | 15.76 | 40.40 | 115.45 | 18.03 | 16.15 | 22.27 | 9.12 | 8.20 | 5.33 | 5.59 | 4.08 | 1.78 | 3.90 |
| Interest Coverage | 1.3 | 1.3 | 1.2 | 0.8 | 1.0 | 1.0 | 0.3 | 1.1 | 2.0 | 1.9 | 2.1 | 2.1 | 2.1 |
| Equity | 16M | 7.5M | 2.8M | 18M | 21M | 16M | 35M | 37M | 26M | 25M | 33M | 34M | 34M |
| Total Assets | 302M | 352M | 368M | 373M | 392M | 391M | 355M | 117M | 179M | 159M | 162M | 150M | 149M |
| Total Liabilities | 272M | 331M | 353M | 344M | 368M | 375M | 324M | 80M | 154M | 141M | 136M | 124M | 124M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | 14M | 13M | -6.2M | -9.0M | 541K | 1.4M | 1.6M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 717K |
| Per Share Data | |||||||||||||
| EPS | 1.69 | 0.39 | 0.44 | 1.92 | 0.21 | 0.26 | 2.94 | 0.13 | 6.45 | 0.10 | 2.13 | 0.47 | 513.89 |
| Owner EPS | 0.87 | 0.75 | 0.02 | -1.07 | 0.22 | 0.47 | -0.93 | 0.40 | 0.30 | -0.04 | 2.31 | 0.44 | 416.54 |
| Book Value | 2.28 | 1.12 | 0.41 | 2.61 | 3.04 | 2.29 | 4.99 | 5.13 | 3.63 | 3.23 | 4.48 | 4.56 | 4,578.37 |
| Cash Flow/Share | 1.80 | 1.79 | 1.18 | 0.51 | 1.86 | 2.14 | 0.56 | 1.71 | 1.03 | 0.35 | 2.71 | 0.84 | 910.32 |
| Dividends/Share | 1.20 | 1.20 | 1.20 | 0.44 | 0.10 | 0.60 | 0.19 | 0.14 | 9.20 | 1.81 | 0.20 | 0.96 | 360.06 |
| Shares Out. | 6.9M | 6.7M | 6.8M | 6.8M | 7.1M | 6.9M | 7.0M | 7.1M | 7.1M | 7.6M | 7.4M | 7.5M | 0.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 38.0 | N/A | N/A | 2.1 | 150.4 | 7.9 | N/A | 0.0 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 5.9 | N/A | N/A | 17.0 | 82.2 | 6.6 | N/A | 0.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 20.2 | N/A | N/A | 3.4 | 12.1 | 4.8 | N/A | 6.3 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 4.3 | N/A | N/A | 3.8 | 4.7 | 3.8 | N/A | 0.0 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 1.1 | N/A | N/A | 3.2 | 3.9 | 4.1 | N/A | 0.0 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | 17.1% | N/A | N/A | 5.9% | 1.2% | 15.1% | N/A | 3817.4% |
| Market Cap | 0 | 0 | 0 | 0 | 0 | 68M | 0 | 0 | 97M | 114M | 125M | 0 | 158K |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9.38 | 0.00 | 0.00 | 14.20 | 14.69 | 15.66 | 0.00 | 21.15 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9.88 | 0.00 | 0.00 | 13.67 | 15.04 | 16.86 | 0.00 | 21.15 |
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. trades at 9.9x trailing earnings, compared to its 15-year median P/E of 7.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.9x vs a median of 11.8x. The company's 5-year average ROIC is 17.1% with a gross margin of 86.1%. Total shareholder yield (dividends) is 1702.4%. At current prices, the estimated annualized return to fair value is -3.2%.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) reported annual revenue of $29 million in its most recent fiscal year, based on SEC EDGAR filings.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a net profit margin of 12.0%. This is a healthy margin.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) generated $5 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a debt-to-equity ratio of 1.78. This indicates higher leverage, which may increase financial risk.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) reported earnings per share (EPS) of $0.47 in its most recent fiscal year.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a return on equity (ROE) of 10.4%. This indicates moderate shareholder returns.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a 5-year average gross margin of 86.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (FREVS) has a book value per share of $4.56, based on its most recent annual SEC filing.
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