Segment information (Tables)

6 Months Ended

Apr. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment and Related Information

Page 16

Real estate rental revenue, operating expenses, NOI and recurring capital improvements for the reportable segments are summarized below and reconciled to condensed consolidated net income attributable to common equity for the six and three month periods ended April 30, 2021 and 2020. Asset information is not reported since FREIT does not use this measure to assess performance.

	Six Months Ended				Three Months Ended
	April 30,				April 30,
	2021		2020		2021		2020
	(In Thousands of Dollars)				(In Thousands of Dollars)
Real estate rental revenue:
Commercial	$	12,414	$	13,548	$	6,063	$	6,534
Residential		13,357		15,612		6,748		7,096
Total real estate rental revenue		25,771		29,160		12,811		13,630
Real estate operating expenses:
Commercial		5,811		5,896		3,184		3,172
Residential		5,390		6,348		2,726		2,707
Total real estate operating expenses		11,201		12,244		5,910		5,879
Net operating income:
Commercial		6,603		7,652		2,879		3,362
Residential		7,967		9,264		4,022		4,389
Total net operating income	$	14,570	$	16,916	$	6,901	$	7,751

Recurring capital improvements - residential $ (180 ) $ (226 ) $ (98 ) $ (130 )

Reconciliation to condensed consolidated net income attributable to common equity:
Segment NOI	$	14,570		$	16,916		$	6,901		$	7,751
Deferred rents - straight lining		(213	)		121			(7	)		58
Investment income		59			136			29			64
General and administrative expenses		(2,730	)		(1,828	)		(1,470	)		(1,056	)
Third party transaction costs		-			(4,519	)		-			(1,137	)
Gain on deconsolidation of subsidiary		-			27,680			-			27,680
Loss on investment in tenancy-in-common		(145	)		(18	)		(118	)		(18	)
Depreciation		(4,633	)		(5,462	)		(2,338	)		(2,530	)
Financing costs		(6,192	)		(7,911	)		(3,060	)		(3,676	)
Net income (loss)		716			25,115			(63	)		27,136
Net (income) loss attributable to noncontrolling interests in subsidiaries		(149	)		(157	)		72			84
Net income attributable to common equity	$	567		$	24,958		$	9		$	27,220