Segment information (Tables)

6 Months Ended

Apr. 30, 2022

Schedule of Segment and Related Information

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, 2022 and 2021. 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,
	2022		2021		2022		2021
	(In Thousands of Dollars)				(In Thousands of Dollars)
Real estate rental revenue:
Commercial	$	6,266	$	12,414	$	1,945	$	6,063
Residential		11,059		13,357		4,721		6,748
Total real estate rental revenue		17,325		25,771		6,666		12,811

Real estate operating expenses:
Commercial		3,919		5,811		1,234		3,184
Residential		4,687		5,390		2,046		2,726
Total real estate operating expenses		8,606		11,201		3,280		5,910

Net operating income:
Commercial		2,347		6,603		711		2,879
Residential		6,372		7,967		2,675		4,022
Total net operating income	$	8,719	$	14,570	$	3,386	$	6,901


Recurring capital improvements - residential	$	(206	)	$	(180	)	$	(158	)	$	(98	)


Reconciliation to condensed consolidated net income (loss) attributable to common equity:
Segment NOI	$	8,719		$	14,570		$	3,386		$	6,901
Deferred rents - straight lining		(61	)		(213	)		(51	)		(7	)
Investment income		64			59			38			29
General and administrative expenses		(2,196	)		(2,730	)		(869	)		(1,470	)
Loss on investment in tenancy-in-common		(156	)		(145	)		(32	)		(118	)
Depreciation		(2,534	)		(4,633	)		(714	)		(2,338	)
Net gain (loss) on sale of Maryland properties		68,771			-			(1,232	)		-
Financing costs		(4,455	)		(6,192	)		(1,527	)		(3,060	)
Net income (loss)		68,152			716			(1,001	)		(63	)
Net (income) loss attributable to noncontrolling interests in subsidiaries		(22,727	)		(149	)		649			72
Net income (loss) attributable to common equity	$	45,425		$	567		$	(352	)	$	9