Dividends and earnings per share	3 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]
Dividends and earnings per share	Note 3 – Dividends and earnings per share: The FREIT Board of Directors (“Board”) declared a dividend of approximately $372,000 ($0.05 per share) in the first quarter of Fiscal 2023, which was paid on March 15, 2023 to stockholders of record on March 1, 2023. Basic earnings 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) 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 increasing the number of shares to be added in computing diluted earnings per share. For the three months ended January 31, 2023, the outstanding stock options increased the average dilutive shares outstanding by approximately 9,000 shares with no impact on earnings per share. For the three months ended January 31, 2022, the outstanding stock options increased the average dilutive shares outstanding by approximately 63,000 shares with an impact of approximately $0.06 on earnings per share. There were no anti-dilutive shares for the three months ended January 31, 2023 and 2022. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan (See Note 13).

Dividends and earnings per share

3 Months Ended

Jan. 31, 2023

Note 3 – Dividends and earnings per share:

The FREIT Board of Directors (“Board”) declared a dividend of approximately $372,000 ($0.05 per share) in the first quarter of Fiscal 2023, which was paid on March 15, 2023 to stockholders of record on March 1, 2023.

Basic earnings 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) 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 increasing the number of shares to be added in computing diluted earnings per share. For the three months ended January 31, 2023, the outstanding stock options increased the average dilutive shares outstanding by approximately 9,000 shares with no impact on earnings per share. For the three months ended January 31, 2022, the outstanding stock options increased the average dilutive shares outstanding by approximately 63,000 shares with an impact of approximately $0.06 on earnings per share. There were no anti-dilutive shares for

the three months ended January 31, 2023 and 2022. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan (See Note 13).