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First Real Estate Investment Trust of New Jersey

OTCPK:FREV.S
Snowflake Description

Acceptable track record and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FREV.S
OTCPK
$115M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

First Real Estate Investment Trust of New Jersey is a publicly traded (over-the-counter – symbol FREVS.) REIT organized in 1961. The last earnings update was 72 days ago. More info.


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FREV.S Share Price and Events
7 Day Returns
-7.3%
OTCPK:FREV.S
1.2%
US REITs
1.6%
US Market
1 Year Returns
13.7%
OTCPK:FREV.S
15.2%
US REITs
2.6%
US Market
FREV.S Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Real Estate Investment Trust of New Jersey (FREV.S) -7.3% 1.8% 13.7% 13.7% -13.9% -9.1%
US REITs 1.2% 2.9% 3.3% 15.2% 13.3% 25.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • FREV.S underperformed the REITs industry which returned 15.2% over the past year.
  • FREV.S outperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
FREV.S
Industry
5yr Volatility vs Market

Value

 Is First Real Estate Investment Trust of New Jersey undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Real Estate Investment Trust of New Jersey to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Real Estate Investment Trust of New Jersey.

OTCPK:FREV.S Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 0 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:FREV.S
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (305.35%))
1.544
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.54
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.544 * 5.96%)
11.93%

Discounted Cash Flow Calculation for OTCPK:FREV.S using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for First Real Estate Investment Trust of New Jersey is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

First Real Estate Investment Trust of New Jersey is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:FREV.S DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (USD, Millions) Source Present Value
Discounted (@ 11.93%)
2019 14.34 Est @ 3.83% 12.81
2020 14.84 Est @ 3.5% 11.85
2021 15.33 Est @ 3.27% 10.93
2022 15.80 Est @ 3.11% 10.07
2023 16.28 Est @ 3% 9.26
2024 16.75 Est @ 2.92% 8.52
2025 17.23 Est @ 2.86% 7.83
2026 17.72 Est @ 2.82% 7.19
2027 18.21 Est @ 2.79% 6.60
2028 18.72 Est @ 2.77% 6.06
Present value of next 10 years cash flows $91.11
OTCPK:FREV.S DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $18.72 × (1 + 2.73%) ÷ (11.93% – 2.73%)
$208.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $208.92 ÷ (1 + 11.93%)10
$67.67
OTCPK:FREV.S Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $91.11 + $67.67
$158.78
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $158.78 / 6.76
$23.49
OTCPK:FREV.S Discount to Share Price
Calculation Result
Value per share (USD) From above. $23.49
Current discount Discount to share price of $17.05
= -1 x ($17.05 - $23.49) / $23.49
27.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Real Estate Investment Trust of New Jersey is available for.
Intrinsic value
27%
Share price is $17.05 vs Future cash flow value of $23.49
Current Discount Checks
For First Real Estate Investment Trust of New Jersey to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Real Estate Investment Trust of New Jersey's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • First Real Estate Investment Trust of New Jersey's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Real Estate Investment Trust of New Jersey's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Real Estate Investment Trust of New Jersey's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:FREV.S PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-31) in USD $0.33
OTCPK:FREV.S Share Price ** OTCPK (2019-05-20) in USD $17.05
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.75x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Real Estate Investment Trust of New Jersey.

OTCPK:FREV.S PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:FREV.S Share Price ÷ EPS (both in USD)

= 17.05 ÷ 0.33

51.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Real Estate Investment Trust of New Jersey is overvalued based on earnings compared to the US REITs industry average.
  • First Real Estate Investment Trust of New Jersey is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Real Estate Investment Trust of New Jersey's expected growth come at a high price?
Raw Data
OTCPK:FREV.S PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 51.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-10.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.58x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Real Estate Investment Trust of New Jersey, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Real Estate Investment Trust of New Jersey's assets?
Raw Data
OTCPK:FREV.S PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-31) in USD $2.88
OTCPK:FREV.S Share Price * OTCPK (2019-05-20) in USD $17.05
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
OTCPK:FREV.S PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:FREV.S Share Price ÷ Book Value per Share (both in USD)

= 17.05 ÷ 2.88

5.91x

* Primary Listing of First Real Estate Investment Trust of New Jersey.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Real Estate Investment Trust of New Jersey is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess First Real Estate Investment Trust of New Jersey's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. First Real Estate Investment Trust of New Jersey has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First Real Estate Investment Trust of New Jersey expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover First Real Estate Investment Trust of New Jersey, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-10.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Real Estate Investment Trust of New Jersey expected to grow at an attractive rate?
  • First Real Estate Investment Trust of New Jersey's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Real Estate Investment Trust of New Jersey's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Unable to compare First Real Estate Investment Trust of New Jersey's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:FREV.S Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:FREV.S Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -10.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:FREV.S Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:FREV.S Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-01-31 59 14 2
2018-10-31 58 11 1
2018-07-31 57 10 1
2018-04-30 55 5 15
2018-01-31 53 5 13
2017-10-31 52 5 13
2017-07-31 50 1 13
2017-04-30 49 5 1
2017-01-31 47 6 2
2016-10-31 46 8 3
2016-07-31 45 13 3
2016-04-30 45 14 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Real Estate Investment Trust of New Jersey's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if First Real Estate Investment Trust of New Jersey is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:FREV.S Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from First Real Estate Investment Trust of New Jersey Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FREV.S Past Financials Data
Date (Data in USD Millions) EPS *
2019-01-31 0.33
2018-10-31 0.22
2018-07-31 0.15
2018-04-30 2.12
2018-01-31 1.86
2017-10-31 1.92
2017-07-31 1.92
2017-04-30 0.08
2017-01-31 0.30
2016-10-31 0.44
2016-07-31 0.46
2016-04-30 0.42

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Real Estate Investment Trust of New Jersey will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Real Estate Investment Trust of New Jersey's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Real Estate Investment Trust of New Jersey has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First Real Estate Investment Trust of New Jersey performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Real Estate Investment Trust of New Jersey's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Real Estate Investment Trust of New Jersey's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • First Real Estate Investment Trust of New Jersey's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • First Real Estate Investment Trust of New Jersey's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
First Real Estate Investment Trust of New Jersey's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Real Estate Investment Trust of New Jersey Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FREV.S Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-31 58.73 2.30
2018-10-31 58.00 1.48
2018-07-31 56.84 1.05
2018-04-30 54.89 14.51
2018-01-31 53.23 12.70
2017-10-31 51.63 13.12
2017-07-31 50.12 13.07
2017-04-30 49.03 0.56
2017-01-31 47.43 2.07
2016-10-31 46.25 3.01
2016-07-31 45.19 3.14
2016-04-30 44.74 2.86
2016-01-31 44.93 2.59
2015-10-31 44.78 2.63
2015-07-31 44.47 3.19
2015-04-30 43.76 2.78
2015-01-31 43.14 3.04
2014-10-31 42.43 2.92
2014-07-31 42.30 3.32
2014-04-30 42.25 3.62
2014-01-31 41.52 3.29
2013-10-31 41.34 3.11
2013-07-31 41.05 2.95
2013-04-30 41.08 1.62
2013-01-31 41.69 3.00
2012-10-31 42.08 3.36
2012-07-31 42.74 3.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Real Estate Investment Trust of New Jersey has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Real Estate Investment Trust of New Jersey used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • First Real Estate Investment Trust of New Jersey has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess First Real Estate Investment Trust of New Jersey's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Real Estate Investment Trust of New Jersey has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is First Real Estate Investment Trust of New Jersey's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up First Real Estate Investment Trust of New Jersey's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • First Real Estate Investment Trust of New Jersey is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • First Real Estate Investment Trust of New Jersey's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of First Real Estate Investment Trust of New Jersey's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Real Estate Investment Trust of New Jersey Company Filings, last reported 3 months ago.

OTCPK:FREV.S Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-31 21.37 351.86 25.71
2018-10-31 24.34 352.42 26.18
2018-07-31 25.46 353.14 24.69
2018-04-30 25.42 353.84 22.71
2018-01-31 23.45 356.32 24.51
2017-10-31 28.59 327.18 9.50
2017-07-31 28.36 327.97 7.76
2017-04-30 15.21 334.60 9.59
2017-01-31 17.03 329.65 8.25
2016-10-31 15.46 329.08 11.00
2016-07-31 17.22 323.45 11.87
2016-04-30 18.40 320.44 12.08
2016-01-31 19.61 314.54 13.15
2015-10-31 21.24 305.84 13.50
2015-07-31 23.71 299.56 14.78
2015-04-30 24.07 287.87 15.96
2015-01-31 26.87 278.88 20.41
2014-10-31 29.85 247.79 11.07
2014-07-31 33.57 246.78 15.15
2014-04-30 31.70 225.01 20.61
2014-01-31 31.00 225.90 26.14
2013-10-31 23.81 199.42 8.78
2013-07-31 25.35 198.38 5.90
2013-04-30 25.10 218.46 25.61
2013-01-31 25.79 219.32 27.67
2012-10-31 26.18 200.42 10.61
2012-07-31 19.10 200.92 4.96
  • First Real Estate Investment Trust of New Jersey's level of debt (1646.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (728.4% vs 1646.6% today).
  • Debt is not well covered by operating cash flow (3.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess First Real Estate Investment Trust of New Jersey's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Real Estate Investment Trust of New Jersey has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is First Real Estate Investment Trust of New Jersey's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.17%
Current annual income from First Real Estate Investment Trust of New Jersey dividends.
If you bought $2,000 of First Real Estate Investment Trust of New Jersey shares you are expected to receive $23 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Real Estate Investment Trust of New Jersey's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • First Real Estate Investment Trust of New Jersey's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Upcoming dividend payment

Purchase First Real Estate Investment Trust of New Jersey before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:FREV.S Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:FREV.S Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.200 1.203
2019-01-11 0.200 1.282
2018-12-20 0.200 1.260
2018-09-10 0.200 1.280
2018-06-11 0.200 1.221
2018-03-12 0.000 0.000
2018-01-23 0.000 0.000
2017-12-26 0.000 0.000
2017-09-11 0.000 0.000
2017-06-13 0.000 0.000
2017-03-13 0.600 3.159
2017-03-08 0.600 2.913
2017-01-13 1.200 5.700
2016-12-27 1.200 5.693
2016-09-12 1.200 5.700
2016-06-09 1.200 5.683
2016-06-03 1.200 5.936
2016-03-14 1.200 5.884
2016-03-04 1.200 6.404
2016-01-19 1.200 6.772
2015-12-14 1.200 6.492
2015-09-09 1.200 6.511
2015-01-16 1.200 5.771
2015-01-12 1.200 6.452
2014-01-17 1.560 8.430
2013-12-11 1.560 8.842
2012-11-19 0.800 4.410
2012-09-11 1.200 6.604
2012-06-11 1.200 6.960
2012-03-05 1.200 6.467
2012-01-06 1.200 5.952
2011-09-06 1.200 6.026
2011-06-13 1.200 6.152
2011-03-16 1.200 7.209
2011-02-08 1.200 7.094
2010-12-23 1.200 6.797
2010-09-09 1.200 6.958
2010-06-03 1.200 6.955
2010-03-11 1.200 6.659
2010-01-21 1.200 6.540
2009-12-17 1.200 6.364
2009-09-01 1.200 7.336

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of First Real Estate Investment Trust of New Jersey's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (13.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Real Estate Investment Trust of New Jersey's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Real Estate Investment Trust of New Jersey afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Real Estate Investment Trust of New Jersey has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Real Estate Investment Trust of New Jersey's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Robert Hekemian
COMPENSATION $296,325
AGE 58
TENURE AS CEO 1.1 years
CEO Bio

Mr. Robert S. Hekemian, Jr. has been Chief Executive Officer of First Real Estate Investment Trust of New Jersey since April 05, 2018. He has served as a Trustee of First Real Estate Investment Trust of New Jersey since 2007 and serves its President since February 8, 2019. Mr. Hekemian has been involved in real estate activities over the years, including property management, leasing, mortgage financing, construction and acquisitions of residential and commercial properties located throughout the Northeast and Mid-Atlantic regions of the United States. He has served as President and Chief Operating Officer of Hekemian & Co (“Hekemian”) since 2004. From 1983 to 2003, Mr. Hekemian served as Executive Vice President of Hekemian. Mr. Hekemian is a Director of First Real Estate Investment Trust of New Jersey, and a Director of the OritaniBank Charitable Foundation and was a Director of Hackensack Hospital. Mr. Hekemian also serves on the Boards of Directors of Oritani Bank and Oritani Financial Corp. Mr. Hekemian is Chairman of the Bergen Community College Foundation. He is a Member of the Board of Governors, Hackensack University Medical Center and a Trustee of the Hackensack University Medical Center Foundation. Mr. Hekemian serves on the Boards of Directors of New York Philharmonic. He is principally responsible for identifying real estate acquisitions and evaluating the performance of the real estate properties managed by Hekemian & Co. with a view toward maintaining or altering management and/or leasing strategies.

CEO Compensation
  • Robert's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Robert's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Real Estate Investment Trust of New Jersey management team in years:

1.1
Average Tenure
68
Average Age
  • The average tenure for the First Real Estate Investment Trust of New Jersey management team is less than 2 years, this suggests a new team.
Management Team

Robert Hekemian

TITLE
CEO, President & Trustee
COMPENSATION
$296K
AGE
58
TENURE
1.1 yrs

John Aiello

TITLE
Executive Secretary
COMPENSATION
$103K
AGE
68
TENURE
16.3 yrs

Allan Tubin

TITLE
CFO & Treasurer
AGE
79
TENURE
0.3 yrs

Chantelle McAleer

TITLE
Investor Relations Contact

Nicole Gullotta

TITLE
Executive Assistant

Stephanie Pecoraro

TITLE
Investor Relations
Board of Directors Tenure

Average tenure and age of the First Real Estate Investment Trust of New Jersey board of directors in years:

3.3
Average Tenure
58
Average Age
  • The tenure for the First Real Estate Investment Trust of New Jersey board of directors is about average.
Board of Directors

Ron Artinian

TITLE
Chairman of the Board
COMPENSATION
$141K
AGE
69
TENURE
1.1 yrs

Robert Hekemian

TITLE
CEO, President & Trustee
COMPENSATION
$296K
AGE
58
TENURE
12 yrs

John Aiello

TITLE
Executive Secretary
COMPENSATION
$103K
AGE
68
TENURE
3.4 yrs

David McBride

TITLE
Independent Trustee
COMPENSATION
$84K
AGE
71
TENURE
12 yrs

Justin Meng

TITLE
Independent Trustee
COMPENSATION
$57K
AGE
39
TENURE
3.3 yrs

David Hekemian

TITLE
COMPENSATION
$66K
AGE
51
TENURE
1.1 yrs

Richard Aslanian

TITLE
Independent Trustee
COMPENSATION
$70K
AGE
57
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Jun 18 Buy Richard Aslanian Individual 18. Jun 18 18. Jun 18 200 $15.75 $3,150
X
Management checks
We assess First Real Estate Investment Trust of New Jersey's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Real Estate Investment Trust of New Jersey has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

First Real Estate Investment Trust of New Jersey is a publicly traded (over-the-counter – symbol FREVS.) REIT organized in 1961. It has approximately $389 million (historical cost basis) of assets. Its portfolio of residential and commercial properties are located in New Jersey, New York and Maryland, with the largest concentration in Northern New Jersey.

Details
Name: First Real Estate Investment Trust of New Jersey
FREV.S
Exchange: OTCPK
Founded: 1961
$115,233,345
6,758,554
Website: http://www.freitnj.com
Address: First Real Estate Investment Trust of New Jersey
505 Main Street,
Hackensack,
New Jersey, 07601,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK FREV.S Common Shares Pink Sheets LLC US USD 09. Aug 1995
Number of employees
Current staff
Staff numbers
35
First Real Estate Investment Trust of New Jersey employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 03:24
End of day share price update: 2019/05/20 00:00
Last earnings filing: 2019/03/11
Last earnings reported: 2019/01/31
Last annual earnings reported: 2018/10/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.