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

12 Months Ended

Oct. 31, 2018

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

Combined Operating Results Properties Included in Continuing Operations

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

	Year Ended October 31,
	2018		2017			2016
Revenues	$	-	$	2,279		$	5,604
Property operating expense		-		(331	)		(1,330	)
Depreciation and amortization		-		(90	)		(476	)
Net Income (loss)	$	-	$	1,858		$	3,798

Marketable Securities

The unrealized gain at October 31, 2018 and October 31, 2017 is detailed below (in thousands):

	Fair Market Value		Cost Basis		Unrealized Gain/(Loss)		Gross Unrealized Gains		Gross Unrealized (Loss)
October 31, 2018
REIT Securities	$	5,567	$	4,998	$	569	$	569	$	-
October 31, 2017
REIT Securities	$	-	$	-	$	-	$	-	$	-

Reconciliation between Basic and Diluted EPS

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

	Year Ended October 31,
	2018			2017			2016
Numerator
Net income applicable to common stockholders – basic	$	5,173		$	6,857		$	4,142
Effect of dilutive securities:
Restricted stock awards		259			376			236
Net income applicable to common stockholders – diluted	$	5,432		$	7,233		$	4,378
Denominator
Denominator for basic EPS-weighted average common shares		8,517			8,383			8,241
Effect of dilutive securities:
Restricted stock awards		597			643			669
Denominator for diluted EPS – weighted average common equivalent shares		9,114			9,026			8,910
Numerator
Net income applicable to Class A common stockholders – basic	$	20,044		$	27,041		$	15,294
Effect of dilutive securities:
Restricted stock awards		(259	)		(376	)		(236	)
Net income applicable to Class A common stockholders – diluted	$	19,785		$	26,665		$	15,058
Denominator
Denominator for basic EPS – weighted average Class A common shares		29,335			29,317			26,921
Effect of dilutive securities:
Restricted stock awards		178			186			191
Denominator for diluted EPS – weighted average Class A common equivalent shares		29,513			29,503			27,112

Major Customers by Reporting Segments

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

	Year Ended October 31,
	2018			2017			2016
Ridgeway Revenues		10.4	%		11.2	%		11.3	%
All Other Property Revenues		89.6	%		88.8	%		88.7	%
Consolidated Revenue		100.0	%		100.0	%		100.0	%

	Year Ended October 31,
	2018			2017
Ridgeway Assets		7.0	%		7.2	%
All Other Property Assets		93.0	%		92.8	%
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, 2018, 2017 and 2016.

	Year Ended October 31,
	2018			2017			2016
Ridgeway Percent Leased		96	%		96	%		98	%

Ridgeway Significant Tenants (by base rent):	Year Ended October 31,
	2018			2017			2016
The Stop & Shop Supermarket Company		20	%		19	%		19	%
Bed, Bath & Beyond		14	%		14	%		14	%
Marshall’s Inc., a division of the TJX Companies		10	%		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, 2018
Income Statement (In Thousands):	Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	14,015	$	121,337	$	135,352
Operating Expenses	$	4,094	$	39,082	$	43,176
Interest Expense	$	1,869	$	11,809	$	13,678
Depreciation and Amortization	$	2,616	$	25,708	$	28,324
Income from Continuing Operations	$	5,436	$	36,747	$	42,183

	Year Ended October 31, 2017
	Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	13,832	$	109,728	$	123,560
Operating Expenses	$	3,809	$	35,886	$	39,695
Interest Expense	$	2,034	$	10,947	$	12,981
Depreciation and Amortization	$	3,016	$	23,496	$	26,512
Income from Continuing Operations	$	4,973	$	31,725	$	36,698

	Year Ended October 31, 2016
	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