Earnings (Loss) per share	9 Months Ended
Jul. 31, 2020
Earnings (Loss) per share:
Earnings (Loss) per share	Note 3 – Earnings (Loss) per share: Basic earnings (loss) per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares and vested share units (See Note 14 to FREIT’s condensed consolidated financial statements) outstanding during each period (denominator). The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator is increased to include the number of additional shares that would have been outstanding if all potentially dilutive shares, such as those issuable upon the exercise of stock options, were issued during the period using the Treasury Stock method. Under the Treasury Stock method, the assumption is that the proceeds received upon exercise of the options, including the unrecognized stock option compensation expense attributable to future services, are used to repurchase FREIT’s stock at the average market price during the period, thereby reducing the number of shares to be added in computing diluted earnings per share. For the nine months ended July 31, 2020, the outstanding stock options increased the average dilutive shares outstanding by 3,302 shares with a $0.01 impact on earnings per share. For the three months ended July 31, 2020 and the nine months ended July 31, 2019, the outstanding stock options were anti-dilutive with no impact on (loss) earnings per share. For the three months ended July 31, 2019, the outstanding stock options increased the average dilutive shares outstanding by 1,203 shares with no impact on earnings per share. There were approximately 268,000 anti-dilutive shares for the nine months ended July 31, 2020 and the three months ended July 31, 2019. The number of anti-dilutive shares which have been excluded from the computation of diluted earnings per share was approximately 311,000 for the three months ended July 31, 2020 and the nine months ended July 31, 2019. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan.

Earnings (Loss) per share

9 Months Ended

Jul. 31, 2020

Note 3 – Earnings (Loss) per share:

Basic earnings (loss) per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares and vested share units (See Note 14 to FREIT’s condensed consolidated financial statements) outstanding during each period (denominator). The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator is increased to include the number of additional shares that would have been outstanding if all potentially dilutive shares, such as those issuable upon the exercise of stock options, were issued during the period using the Treasury Stock method. Under the Treasury Stock method, the assumption is that the proceeds received upon exercise of the options, including the unrecognized stock option compensation expense attributable to future services, are used to repurchase FREIT’s stock at the average market price during the period, thereby reducing the number of shares to be added in computing diluted earnings per share. For the nine months ended July 31, 2020, the outstanding stock options increased the average dilutive shares outstanding by 3,302 shares with a $0.01 impact on earnings per share. For the three months ended July 31, 2020 and the nine months ended July 31, 2019, the outstanding stock options were anti-dilutive with no impact on (loss) earnings per share. For the three months ended July 31, 2019, the outstanding stock options increased the average dilutive shares outstanding by 1,203 shares with no impact on earnings per share. There were approximately 268,000 anti-dilutive shares for the nine months ended July 31, 2020 and the three months ended July 31, 2019. The number of anti-dilutive shares which have been excluded from the computation of diluted earnings per share was approximately 311,000 for the three months ended July 31, 2020 and the nine months ended July 31, 2019. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan.