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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
July 12, 2023
FIRST REAL
ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
(Exact name of registrant as specified
in charter)
| Maryland |
000-25043 |
22-1697095 |
| (State or other jurisdiction of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
| 505 Main Street,
Suite 400, Hackensack, New Jersey |
07601 |
| (Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including
area code: (201) 488-6400
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading
Symbol(s) |
Name of each exchange on which registered |
| Common Stock, par value $0.01 per share |
FREVS |
OTC Pink Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 8 - Other Events
Item 8.01 Other Events .
On July
12, 2023, the Board of Directors of First Real Estate Investment Trust of New Jersey, Inc. (“FREIT” or the “Trust”)
declared a third quarter ordinary dividend of $0.05 per share. Additionally, the Board of Directors declared a special dividend of $0.25
per share to distribute funds released in Fiscal 2023 from a post-closing rent escrow established in connection with the sale of the Trust’s
Maryland properties. The total dividend of $0.30 per share on the Common Stock of the Trust will be paid on September 15, 2023 to holders
of record of said shares at the close of business on September 1, 2023. The Board of Directors will continue to evaluate the dividend
on a quarterly basis and there can be no assurance that dividends will be declared for any future period. In addition, the amount of the
dividends declared on July 12, 2023 is not necessarily indicative of the amount of any dividends that may be declared in the future.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Registrant’s press release dated July 13,
2023
Forward-Looking
and Cautionary Statements
This current report on Form 8-K may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements
can be identified by the use of words such as “expect,” “plan,” “will,” “estimate,” “project,”
“intend,” “believe,” “guidance,” “approximately,” “anticipate,” “may,”
“should,” “seek” or the negative of these words and phrases or similar words or phrases that are predictions of
or indicate future events or trends and that do not relate to historical matters. You can also identify forward-looking statements by
discussions of strategy, plans or intentions of management. These forward-looking statements are subject to known and unknown risks and
uncertainties that you should not rely on as predictions of future events. Forward-looking statements depend on assumptions, data and/or
methods which may be incorrect or imprecise and we may not be able to realize them. The following risks and uncertainties, among others,
could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not
limited to: industry and economic conditions; FREIT’s ability to satisfy the conditions to closing and complete the proposed transaction;
FREIT’s dependence upon its external manager to conduct its business and achieve its investment objectives; unknown liabilities
acquired in connection with acquired properties or interests in real estate-related entities; general risks affecting the real estate
industry and local real estate markets (including, without limitation, the market value of FREIT’s properties, potential illiquidity
of FREIT’s remaining real estate investments, condemnations, and potential damage from natural disasters); the financial performance
of FREIT’s tenants; the impact of any financial, accounting, legal or regulatory issues or litigation that may affect the Trust
and its major tenants; volatility and uncertainty in the financial markets, including potential fluctuations in the consumer price index;
risks associated with FREIT’s failure to maintain status as a REIT under the Internal Revenue Code of 1986, as amended; and other
additional risks discussed in FREIT’s annual report on Form 10-K for the fiscal year ended October 31, 2022. FREIT expressly disclaims
any responsibility to update or revise forward-looking statements, whether as a result of new information, future events or otherwise,
except as required by law.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
| |
FIRST
REAL ESTATE INVESTMENT
TRUST OF NEW JERSEY, INC. |
| |
(Registrant) |
| |
|
| |
|
| |
By: |
/s/
Robert S. Hekemian, Jr. |
| |
|
Robert S. Hekemian, Jr. |
| |
|
President and Chief Executive Officer |
Date: July 13, 2023
