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

9 Months Ended

Jul. 31, 2019

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

Marketable Securities

The Company did not own any marketable equity securities as of July 31, 2019.  The unrealized gain on the Company's marketable equity securities at October 31, 2018 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		$	-

Property, Plant and Equipment, Estimated Useful Lives

Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:

Buildings	30-40 years
Property Improvements	10-20 years
Furniture/Fixtures	3-10 years
Tenant Improvements	Shorter of lease term or their useful life

Disposal Groups, Including Discontinued Operations [Table Text Block]

The operating results of the Monroe Property, which is included in continuing operations is as follows (amounts in thousands):

	Nine Months Ended July 31,						Three Months Ended July 31,
	2019			2018			2019			2018
Revenues	$	210		$	284		$	30		$	94
Property operating expense		(66	)		(91	)		(14	)		(34	)
Depreciation and amortization		(41	)		(62	)		-			(21	)
Net Income	$	103		$	131		$	16		$	39

Reconciliation between Basic and Diluted EPS

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

	Nine Months Ended July 31,						Three Months Ended July 31,
	2019			2018			2019			2018
Numerator
Net income applicable to common stockholders – basic	$	3,983		$	4,136		$	1,531		$	1,148
Effect of dilutive securities:
Restricted stock awards		155			202			68			63
Net income applicable to common stockholders – diluted	$	4,138		$	4,338		$	1,599		$	1,211
Denominator
Denominator for basic EPS – weighted average common shares		8,812			8,558			8,813			8,560
Effect of dilutive securities:
Restricted stock awards		501			589			585			673
Denominator for diluted EPS – weighted average common equivalent shares		9,313			9,147			9,398			9,233
Numerator
Net income applicable to Class A common stockholders-basic	$	14,939		$	15,962		$	5,739		$	4,431
Effect of dilutive securities:
Restricted stock awards		(155	)		(202	)		(68	)		(63	)
Net income applicable to Class A common stockholders – diluted	$	14,784		$	15,760		$	5,671		$	4,368
Denominator
Denominator for basic EPS – weighted average Class A common shares		29,442			29,363			29,431			29,358
Effect of dilutive securities:
Restricted stock awards		195			175			244			232
Denominator for diluted EPS – weighted average Class A common equivalent shares		29,637			29,538			29,675			29,590

Major Customers by Reporting Segments

	Nine Months Ended July 31,						Three Months Ended July 31,
	2019			2018			2019			2018
Ridgeway Revenues		10.7	%		10.0	%		10.6	%		10.5	%
All Other Property Revenues		89.3	%		90.0	%		89.4	%		89.5	%
Consolidated Revenue		100.0	%		100.0	%		100.0	%		100.0	%

	July 31, 2019			October 31, 2018
Ridgeway Assets		6.6	%		7.2	%
All Other Property Assets		93.4	%		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 the three and nine months ended July 31, 2019 or the year ended October 31, 2018.

	July 31, 2019			October 31, 2018
Ridgeway Percent Leased		97	%		96	%

Ridgeway Significant Tenants (Percentage of Base Rent Billed):

	Nine Months Ended July 31,						Three Months Ended July 31,
	2019			2018			2019			2018
The Stop & Shop Supermarket Company		21	%		21	%		21	%		21	%
Bed, Bath & Beyond		14	%		14	%		15	%		14	%
Marshall’s Inc.		10	%		10	%		11	%		10	%
All Other Tenants at Ridgeway (Note 2)		55	%		55	%		53	%		55	%
Total		100	%		100	%		100	%		100	%

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

Segment Reporting Information by Segment

Income Statements (In Thousands):	Nine Months Ended July 31, 2019						Three Months Ended July 31, 2019
	Ridgeway		All Other Operating Segments		Total Consolidated		Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	11,147	$	92,150	$	103,297	$	3,745	$	30,804	$	34,549
Property Operating Expenses	$	3,243	$	31,030	$	34,273	$	1,043	$	9,797	$	10,840
Interest Expense	$	1,278	$	9,329	$	10,607	$	424	$	3,073	$	3,497
Depreciation and Amortization	$	1,768	$	19,158	$	20,926	$	582	$	6,419	$	7,001
Net Income	$	4,857	$	26,548	$	31,405	$	1,695	$	9,732	$	11,427

Income Statements (In Thousands):	Nine Months Ended July 31, 2018						Three Months Ended July 31, 2018
	Ridgeway		All Other Operating Segments		Total Consolidated		Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	10,254	$	92,555	$	102,809	$	3,434	$	29,375	$	32,809
Property Operating Expenses	$	2,894	$	29,560	$	32,454	$	978	$	9,126	$	10,104
Interest Expense	$	1,439	$	8,739	$	10,178	$	428	$	3,011	$	3,439
Depreciation and Amortization	$	1,986	$	19,301	$	21,287	$	650	$	6,720	$	7,370
Net Income	$	3,935	$	28,946	$	32,881	$	1,378	$	8,402	$	9,780