First Real Estate Investment Trust of New Jersey (FREVS) Odd Lot Tender ($40 Gain)
- Company: First Real Estate Investment Trust of New Jersey
- Ticker: FREVS
- Market Cap: ~$156mm
- Size of Action: ~$2.3mm (1.5% of S/O)
- Type of Transaction: Tender Offer with Odd-Lot Provision
- Current Price: $22.58
- Exchange Price: $23.00
- Potential Gain (%): 1.9%
- Expiration: Midnight March 20th, 2015
- Tender Limit (Shares): 99
- Max Investment ($): $2,235
- Max Gain ($): $42
- Sec Filing: Link
- Summary: First Real Estate Investment Trust of New Jersey (FREVS) is buying 1.5% of its S/O for $23.00 per share. As of 2/17, the company has ~$22mm in cash to fund the tender offer. The Board of Trustees of FREIT has determined to commence the tender offer in order to provide liquidity to its shareholders.
- Odd Lots: ....first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares and do not properly withdraw them before the expiration date...
- All information contained on or available through this Web Site (“the Content”) is for general information purposes only and does not constitute any investment advice.
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