What is First Real Estate Investment Trust of New Jersey, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on First Real Estate Investment Trust of New Jersey, Inc.'s reported free cash flow gives -$5,665.89 per share. The share price was $21.20 on September 28, 2026, 100% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -10.0% | 10.0% | -$8,398.37 | -39,715% |
| Base | -5.0% | 9.0% | -$5,665.89 | -26,826% |
| Bull | 0.0% | 8.0% | -$572.05 | -2,798% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | -$3,847.56 | -$3,312.74 | -$2,659.07 | -$1,841.98 | -$791.44 |
| 8.0% | -$5,188.92 | -$4,842.09 | -$4,432.20 | -$3,940.34 | -$3,339.17 |
| 9.0% | -$6,176.64 | -$5,939.50 | -$5,665.89 | -$5,346.66 | -$4,969.40 |
| 10.0% | -$6,935.27 | -$6,766.64 | -$6,575.52 | -$6,357.09 | -$6,105.06 |
| 11.0% | -$7,536.96 | -$7,413.33 | -$7,275.16 | -$7,119.71 | -$6,943.54 |
Where the presets come from
Base: years 1 to 5 grow at First Real Estate Investment Trust of New Jersey, Inc.'s revenue growth rate over the last 5 fiscal years (-11.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptionsFirst Real Estate Investment Trust of New Jersey, Inc. company page