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

6 Months Ended

Apr. 30, 2022

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

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 Chester Property, the Bloomfield Property and the Unionville Property, which are included in  operations is as follows (amounts in thousands):

	Six Months Ended April 30,						Three Months Ended April 30,
	2022			2021			2022			2021
Revenues	$	46		$	98		$	8		$	52
Property operating expense		(27	)		(37	)		(9	)		(21	)
Depreciation and amortization		(14	)		(53	)		(2	)		(26	)
Net Income (Loss)	$	5		$	8		$	(3	)	$	5

Reconciliation between Basic and Diluted EPS

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

	Six Months Ended April 30,						Three Months Ended April 30,
	2022			2021			2022			2021
Numerator
Net income applicable to common stockholders – basic	$	2,768		$	1,986		$	1,574		$	1,009
Effect of dilutive securities:
Restricted stock awards		85			37			52			25
Net income applicable to common stockholders – diluted	$	2,853		$	2,023		$	1,626		$	1,034
Denominator
Denominator for basic EPS – weighted average common shares		9,327			9,250			9,328			9,250
Effect of dilutive securities:
Restricted stock awards		424			248			465			353
Denominator for diluted EPS – weighted average common equivalent shares		9,751			9,498			9,793			9,603
Numerator
Net income applicable to Class A common stockholders-basic	$	9,738		$	7,114		$	5,535		$	3,612
Effect of dilutive securities:
Restricted stock awards		(85	)		(37	)		(52	)		(25	)
Net income applicable to Class A common stockholders – diluted	$	9,653		$	7,077		$	5,483		$	3,587
Denominator
Denominator for basic EPS – weighted average Class A common shares		29,637			29,583			29,614			29,576
Effect of dilutive securities:
Restricted stock awards		163			84			217			188
Denominator for diluted EPS – weighted average Class A common equivalent shares		29,800			29,667			29,831			29,764

Major Customers by Reporting Segments

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

	Six Months Ended April 30,						Three Months Ended April 30,
	2022			2021			2022			2021
Ridgeway Revenues		9.8	%		10.4	%		9.7	%		10.7	%
All Other Property Revenues		90.2	%		89.6	%		90.3	%		89.3	%
Consolidated Revenue		100.0	%		100.0	%		100.0	%		100.0	%

	April 30, 2022			October 31, 2021
Ridgeway Assets		6.3	%		6.3	%
All Other Property Assets		93.7	%		93.7	%
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 six months ended April 30, 2022 or the year ended October 31, 2021.

	April 30, 2022			October 31, 2021
Ridgeway Percent Leased		92	%		92	%

Ridgeway Significant Tenants (Percentage of Base Rent Billed):

	Six Months Ended April 30,						Three Months Ended April 30,
	2022			2021			2022			2021
The Stop & Shop Supermarket Company		21	%		21	%		21	%		21	%
Bed, Bath & Beyond		15	%		15	%		15	%		15	%
Marshall’s Inc.		11	%		11	%		11	%		11	%
All Other Tenants at Ridgeway (Note 2)		53	%		53	%		53	%		53	%
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):	Six Months Ended April 30, 2022						Three Months Ended April 30, 2022
	Ridgeway		All Other Operating Segments		Total Consolidated		Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	7,114	$	64,441	$	71,555	$	3,475	$	32,525	$	36,000
Property Operating Expenses	$	2,269	$	22,991	$	25,260	$	1,126	$	11,209	$	12,335
Interest Expense	$	800	$	5,764	$	6,564	$	382	$	2,880	$	3,262
Depreciation and Amortization	$	1,145	$	13,571	$	14,716	$	624	$	6,948	$	7,572
Net Income	$	2,900	$	18,245	$	21,145	$	1,343	$	10,081	$	11,424

Income Statements (In Thousands):	Six Months Ended April 30, 2021						Three Months Ended April 30, 2021
	Ridgeway		All Other Operating Segments		Total Consolidated		Ridgeway		All Other Operating Segments		Total Consolidated
Revenues	$	6,989	$	60,214	$	67,203	$	3,528	$	29,398	$	32,926
Property Operating Expenses	$	2,301	$	21,924	$	24,225	$	1,147	$	10,903	$	12,050
Interest Expense	$	819	$	5,914	$	6,733	$	391	$	2,950	$	3,341
Depreciation and Amortization	$	1,172	$	13,538	$	14,710	$	592	$	6,600	$	7,192
Net Income	$	2,697	$	15,065	$	17,762	$	1,398	$	7,560	$	8,958