Hekemian Boosts Stake in First Real Estate Trust to 506,511 Shares

TL;DR

**Insider David Hekemian holds over half a million shares in First Real Estate Trust.**

AI Summary

David B. Hekemian, a key individual associated with FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, filed an amended SC 13G/A on January 25, 2024, disclosing a beneficial ownership of 506,511 shares of the company's common stock as of December 31, 2023. This represents a significant stake, indicating his continued confidence or influence in the company. Investors should note this substantial insider holding as it often signals alignment between management and shareholder interests.

Why It Matters

This filing shows a significant insider, David B. Hekemian, maintains a substantial ownership stake, which can be a positive signal for current and prospective shareholders, suggesting strong conviction in the company's future.

Risk Assessment

Risk Level: low — The filing indicates a significant insider holding, which generally reduces risk by aligning management's interests with shareholders.

Analyst Insight

A smart investor would view this as a positive signal, indicating strong insider confidence, and might consider further research into the company's fundamentals and recent performance.

Key Numbers

• 506,511 — Aggregate Shares Beneficially Owned (Total shares David B. Hekemian beneficially owns as of December 31, 2023.)
• 213,629 — Sole Voting Power Shares (Shares over which David B. Hekemian has sole voting and dispositive power.)
• 213,662 — Shared Voting Power Shares (Shares over which David B. Hekemian has shared voting and dispositive power.)

Key Players & Entities

• David B. Hekemian (person) — Reporting Person, beneficial owner of shares
• FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (company) — Issuer of the securities
• $0.01 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• David B. Hekemian will maintain a significant ownership stake in FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY. (David B. Hekemian) — high confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (1) (Title of Class of Secu

Filing Documents

• sc13ga-31402_dh.htm (SC 13G/A) — 36KB
• 0001174947-24-000116.txt ( ) — 37KB

If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a

Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act; (b) [ ] Bank as defined in Section 3(a)(6) of the Act; (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act; (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940; (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940; (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). Page 3 of 6

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 506,511 Shares (3)(4) . (b) Percent of class: 6.8% (5) . (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 213,629 . (ii) Shared power to vote or to direct the vote 213,662 (3) . (iii) Sole power to dispose or to direct the disposition of 213,629 . (iv) Shared power to dispose or to direct the disposition of 213,662 (3) .

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. Not applicable.

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable. Page 4 of 6

Certifications

Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b): Not applicable. (b) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b)(1)(ii)(J), or if he statement is filed pursuant to Rule 13d-1(b)(ii)(K) and a member of the group is a non-U.S. institution eligible to file pursuant to Rule 13d-1(b)(1)(ii)(J): Not applicable. (c) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(c): Not applicable. (1) Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis . (2) Except as may be otherwise specified herein, the information presented in this Amendment No. 3 to Schedule 13G is as of December 31, 2023. (3) Includes (i) an aggregate of 102,216 shares which are held by certain partnerships and limited liability companies in which Mr. Hekemian is a partner or member, (ii) an aggregate of 88,940 shares held by the Robert and Mary Jane Hekemian Foundation, Inc. of which Mr. Hekemian is the Vice President/Treasurer, and (iii) an aggregate of 22,506 shares which are held in certain trusts for the benefit of Mr. Hekemian’s nephews and niece and of which Mr. Hekemian is a trustee. (4) Includes (i) 2,750 shares held by Mr. Hekemian’s wife, with respect to which Mr. Hekemian disclaims beneficial ownership, (ii) 6,000 shares held in trust for the benefit of Mr. Hekemian’s children, with respect to which Mr. Hekemian disclaims beneficial

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View this SC 13G/A filing on SEC EDGAR