ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2016

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Operating Results for Discontinued Operations

The combined operating results of the Springfield property, the Meriden property and the White Plains property, which are included in continuing operations, were as follows (amounts in thousands):

	Year Ended October 31,
	2016			2015			2014
Revenues	$	5,638		$	6,126		$	12,411
Property operating expense		(1,340	)		(3,244	)		(5,689	)
Depreciation and amortization		(476	)		(1,787	)		(2,767	)
Net Income	$	3,822		$	1,095		$	3,955

The following table summarizes revenues and expenses for the Company's discontinued operations (amounts in thousands):

	Year Ended October 31,
	2016		2015		2014
Revenues	$	-	$	-	$	141
Property operating expense	$	-	$	-	$	-
Depreciation and amortization	$	-	$	-	$	-
Income from discontinued operations		-		-		141

Cash flows from discontinued operations for the fiscal years ended October 31, 2016, 2015 and 2014 are combined with the cash flows from operations within each of the three categories presented.  Cash flows from discontinued operations are as follows (amounts in thousands):

	Year Ended October 31,
	2016			2015			2014
Cash flows from operating activities		$	–		$	–		$	(13,131	)
Cash flows from investing activities		$	–		$	–		$	14,314
Cash flows from financing activities		$	–		$	–		$	–

Reconciliation between Basic and Diluted EPS

The following table sets forth the reconciliation between basic and diluted EPS (in thousands):

	Year Ended October 31,
	2016			2015			2014
Numerator
Net income applicable to common stockholders – basic	$	4,142		$	7,412		$	11,401
Effect of dilutive securities:
Restricted stock awards		236			431			723
Net income applicable to common stockholders – diluted	$	4,378		$	7,843		$	12,124
Denominator
Denominator for basic EPS-weighted average common shares		8,241			8,059			7,801
Effect of dilutive securities:
Restricted stock awards		669			669			735
Denominator for diluted EPS – weighted average common equivalent shares		8,910			8,728			8,536
Numerator
Net income applicable to Class A common stockholders – basic	$	15,294		$	27,247		$	38,068
Effect of dilutive securities:
Restricted stock awards		(236	)		(431	)		(723	)
Net income applicable to Class A common stockholders – diluted	$	15,058		$	26,816		$	37,345
Denominator
Denominator for basic EPS – weighted average Class A common shares		26,921			26,141			23,208
Effect of dilutive securities:
Restricted stock awards		191			191			219
Denominator for diluted EPS – weighted average Class A common equivalent shares		27,112			26,332			23,427

Major Customers by Reporting Segments

Segment information about Ridgeway as required by ASC Topic 280 is included below:

	Year Ended October 31,
	2016	2015	2014
Ridgeway Revenues	11.3%	11.7%	13.3%
All Other Property Revenues	88.7%	88.3%	86.7%
Consolidated Revenue	100.0%	100.0%	100.0%

	Year Ended October 31,
	2016	2015
Ridgeway Assets	7.6%	8.4%
All Other Property Assets	92.4%	91.6%
Consolidated Assets (Note 1)	100.0%	100.0%

Note 1- Ridgeway did not have any significant expenditures for additions to long lived assets in any of the fiscal years ended October 31, 2016, 2015 and 2014.

	Year Ended October 31,
	2016	2015	2014
Ridgeway Percent Leased	98%	97%	99%

Ridgeway Significant Tenants (by base rent):	Year Ended October 31,
	2016	2015	2014
The Stop & Shop Supermarket Company	19%	19%	19%
Bed, Bath & Beyond	14%	14%	14%
Marshall's Inc., a division of the TJX Companies	11%	11%	11%
All Other Tenants at Ridgeway (Note 2)	56%	56%	56%
Total	100%	100%	100%

Note 2 - No other tenant accounts for more than 10% of Ridgeway's annual base rents in any of the three years presented.  Percentages are calculated as a ratio of the tenants' base rent divided by total base rent of Ridgeway.

Segment Reporting Information by Segment

	Year Ended October 31, 2016
Income Statement (In Thousands):	Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	13,192	$	103,600	$	116,792
Operating Expenses	$	3,649	$	33,616	$	37,265
Interest Expense	$	2,487	$	10,496	$	12,983
Depreciation and Amortization	$	2,468	$	20,557	$	23,025
Income from Continuing Operations	$	4,588	$	30,017	$	34,605

	Year Ended October 31, 2015
	Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	13,485	$	101,827	$	115,312
Operating Expenses	$	3,768	$	35,723	$	39,491
Interest Expense	$	2,545	$	10,930	$	13,475
Depreciation and Amortization	$	2,358	$	20,077	$	22,435
Income from Continuing Operations	$	4,814	$	25,021	$	29,835

	Year Ended October 31, 2014
	Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	13,599	$	88,729	$	102,328
Operating Expenses	$	3,859	$	32,064	$	35,923
Interest Expense	$	2,601	$	7,634	$	10,235
Depreciation and Amortization	$	2,374	$	16,875	$	19,249
Income from Continuing Operations	$	4,765	$	23,981	$	28,746