| Schedule of Consolidated Net Income Attributable to Common Equity |
Asset information is not reported since FREIT does not use this measure to assess performance. | | | Nine Months Ended | | | Three Months Ended | | | | | July 31, | | | July 31, | | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | | | (In Thousands of Dollars) | | | (In Thousands of Dollars) | | | Real estate rental revenue: | | | | | | | | | | | | | | | | | | Commercial | | $ | 5,884 | | | $ | 5,585 | | | $ | 1,842 | | | $ | 1,805 | | | Residential | | | 16,797 | | | | 16,269 | | | | 5,691 | | | | 5,466 | | | Total real estate rental revenue | | | 22,681 | | | | 21,854 | | | | 7,533 | | | | 7,271 | | | | | | | | | | | | | | | | | | | | | Real estate operating expenses: | | | | | | | | | | | | | | | | | | Commercial | | | 4,075 | | | | 3,923 | | | | 1,247 | | | | 1,273 | | | Residential | | | 7,082 | | | | 6,880 | | | | 2,399 | | | | 2,329 | | | Total real estate operating expenses | | | 11,157 | | | | 10,803 | | | | 3,646 | | | | 3,602 | | | | | | | | | | | | | | | | | | | | | Net operating income: | | | | | | | | | | | | | | | | | | Commercial | | | 1,809 | | | | 1,662 | | | | 595 | | | | 532 | | | Residential | | | 9,715 | | | | 9,389 | | | | 3,292 | | | | 3,137 | | | Total net operating income | | $ | 11,524 | | | $ | 11,051 | | | $ | 3,887 | | | $ | 3,669 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Recurring capital improvements - residential | | $ | (389 | ) | | $ | (357 | ) | | $ | (141 | ) | | $ | (154 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reconciliation to condensed consolidated net income attributable to common equity: | | | | | | | | | | | | | | | | | | Segment NOI | | $ | 11,524 | | | $ | 11,051 | | | $ | 3,887 | | | $ | 3,669 | | | Deferred rents - straight lining | | | (6 | ) | | | (83 | ) | | | 4 | | | | (27 | ) | | Investment income | | | 846 | | | | 1,053 | | | | 297 | | | | 303 | | | General and administrative expenses | | | (3,141 | ) | | | (2,260 | ) | | | (1,376 | ) | | | (624 | ) | | Loss on investment in tenancy-in-common | | | (106 | ) | | | (13 | ) | | | (37 | ) | | | (36 | ) | | Net gain on sale of property | | | 19,825 | | | | — | | | | 19,825 | | | | — | | | Depreciation | | | (2,126 | ) | | | (2,195 | ) | | | (681 | ) | | | (738 | ) | | Financing costs | | | (5,634 | ) | | | (5,532 | ) | | | (1,973 | ) | | | (1,808 | ) | | Net income | | | 21,182 | | | | 2,021 | | | | 19,946 | | | | 739 | | | Net loss attributable to noncontrolling interests in subsidiaries | | | 538 | | | | 366 | | | | 215 | | | | 140 | | | Net income attributable to common equity | | $ | 21,720 | | | $ | 2,387 | | | $ | 20,161 | | | $ | 879 | |
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