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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. First Real Estate Investment Trust of New Jersey's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 877.91%.
First Real Estate Investment Trust of New Jersey (OTCPK:FREVS) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
First Real Estate Investment Trust of New Jersey ROC (Joel Greenblatt) % Chart
First Real Estate Investment Trust of New Jersey Annual Data
FREVS vs ELME, MRTI, CLPR: ROC (Joel Greenblatt) % Comparison
For the REIT - Residential subindustry, First Real Estate Investment Trust of New Jersey's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
First Real Estate Investment Trust of New Jersey ROC (Joel Greenblatt) % vs REITs Industry
First Real Estate Investment Trust of New Jersey ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 877.91% mean?
First Real Estate Investment Trust of New Jersey (FREVS) has a ROC (Joel Greenblatt) % of 877.91% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on First Real Estate Investment Trust of New Jersey and its competitors. This is 79% below median its historical median of 4,150.68. Over the past decade, First Real Estate Investment Trust of New Jersey's ROC (Joel Greenblatt) % has ranged from 28.54 to 20,579.77. According to the industry distribution chart, First Real Estate Investment Trust of New Jersey ranks #136 out of 569 companies in the REITs industry, placing it in the top 23.9%.
Is First Real Estate Investment Trust of New Jersey's ROC (Joel Greenblatt) % too high?
First Real Estate Investment Trust of New Jersey's current ROC (Joel Greenblatt) % of 877.91% is 79% below median its 10-year median of 4,150.68. Over the past 10 years, this metric has ranged from a low of 28.54 to a high of 20,579.77. The REITs industry median ROC (Joel Greenblatt) % is 175.63. First Real Estate Investment Trust of New Jersey's value of 877.91% is 399.9% above this industry median. Based on the distribution chart, First Real Estate Investment Trust of New Jersey ranks #136 out of 569 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, First Real Estate Investment Trust of New Jersey has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Real Estate Investment Trust of New Jersey's ROC (Joel Greenblatt) % compare to ELME and MRTI?
According to the REITs industry distribution chart, First Real Estate Investment Trust of New Jersey ranks #136 out of 569 companies for ROC (Joel Greenblatt) %. This places First Real Estate Investment Trust of New Jersey in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 175.63. First Real Estate Investment Trust of New Jersey's value of 877.91% is 399.9% above this benchmark. Historically, First Real Estate Investment Trust of New Jersey's own ROC (Joel Greenblatt) % has ranged from 28.54 to 20,579.77 over the past decade. While the company's 10-year median is 4,150.68 vs. the industry median of 175.63, First Real Estate Investment Trust of New Jersey has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 175.63, based on 569 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Real Estate Investment Trust of New Jersey's current ROC (Joel Greenblatt) % of 877.91% is 399.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on First Real Estate Investment Trust of New Jersey and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 175.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Real Estate Investment Trust of New Jersey's current ROC (Joel Greenblatt) % is 877.91%, which is 79% below median its own 10-year median of 4,150.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Real Estate Investment Trust of New Jersey stock overvalued right now?
Based on GuruFocus' analysis, First Real Estate Investment Trust of New Jersey (FREVS) is currently considered Modestly Overvalued. The stock's GF Value™ is $17.10, compared to a current price of $21.35 — trading 24.9% above its estimated fair value. The current ROC (Joel Greenblatt) % is 877.91%, which is 79% below median its 10-year median of 4,150.68 and 399.9% above the REITs industry median of 175.63. First Real Estate Investment Trust of New Jersey's overall GF Score™ is 65/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For First Real Estate Investment Trust of New Jersey (FREVS), the current ROC (Joel Greenblatt) % is 877.91% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Real Estate Investment Trust of New Jersey (FREVS) Overvalued in 2026?
Based on GuruFocus' analysis, First Real Estate Investment Trust of New Jersey stock appears to be overvalued.
The current stock price of $21.35 is trading 24.9% above its estimated GF Value™ of $17.10.
GuruFocus considers First Real Estate Investment Trust of New Jersey to be Modestly Overvalued.
Key valuation signals for FREVS:
ROC (Joel Greenblatt) %: 877.91% (79% below median its 10-year median of 4,150.68)
GF Value™: $17.10 vs. price of $21.35 (24.9% above fair value)
Industry Position: 399.9% above the REITs median (#136 of 569)
No single metric tells the full story. See the FREVS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Real Estate Investment Trust of New Jersey Inc operates in the real estate sector of the United States. It implies the investment in real estate properties and passing on a regular income and benefit of capital appreciation to its shareholders. The company operates in two reportable segments; commercial properties and residential properties. Its revenues consist of fixed rental income from its residential and commercial properties and additional rent in the form of expense reimbursements acquired from its income-producing commercial properties. The majority of revenue is derived from the Residential properties segment.
65GF Score
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