FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY (FREVS) Reports Q3 2023 Financial Results
Net Loss Narrows as Residential Revenues Rise
First Real Estate Investment Trust of New Jersey (FREVS) released its financial results for the fiscal quarter e nded July 31, 2023. The company reported a net loss of $846,000 for the quarter, reflecting an improvement compared to the same period in the previous year when it reported a net income of $1,814,000. Total revenue for the quarter was $7.3 million, a slight increase from the previous year's $6.9 million.
Net Income/Loss
In the fiscal quarter ended July 31, 2023, FREVS reported a net loss of $846,000. This represents a significant change from the same period in 2022 when the company reported a net income of $1,814,000. The decrease in net income can be attributed to various factors, including changes in property values and expenses related to the company's operations.
Revenue
