Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
FREVS's Shiller PE Ratio is ranked better than 58.7% of 477
companies
in the REITs industry
Industry Median: 13.55
vs FREVS: 11.48
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
First Real Estate Investment Trust of New Jersey's adjusted earnings per share data for the three months ended in Apr. 2026 was $0.080. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.86 for the trailing ten years ended in Apr. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
First Real Estate Investment Trust of New Jersey (OTCPK:FREVS) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
First Real Estate Investment Trust of New Jersey Shiller PE Ratio Related Terms
First Real Estate Investment Trust of New Jersey Shiller PE Ratio Historical 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.
First Real Estate Investment Trust of New Jersey Shiller PE Ratio Chart
First Real Estate Investment Trust of New Jersey Annual Data
FREVS vs ELME, MRTI, CLPR: Shiller PE Ratio Comparison
For the REIT - Residential subindustry, First Real Estate Investment Trust of New Jersey's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs REITs Industry
First Real Estate Investment Trust of New Jersey Shiller PE Ratio Calculation
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
* 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.
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
First Real Estate Investment Trust of New Jersey (FREVS) has a Shiller PE Ratio of 11.48 as of Aug. 19, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on First Real Estate Investment Trust of New Jersey and its competitors. This is 10% below median its historical median of 12.76. Over the past decade, First Real Estate Investment Trust of New Jersey's Shiller PE Ratio has ranged from 6.15 to 26.04. According to the industry distribution chart, First Real Estate Investment Trust of New Jersey ranks #197 out of 477 companies in the REITs industry, placing it in the top 41.3%.
Is First Real Estate Investment Trust of New Jersey's Shiller PE Ratio too high?
First Real Estate Investment Trust of New Jersey's current Shiller PE Ratio of 11.48 is 10% below median its 10-year median of 12.76. Over the past 10 years, this metric has ranged from a low of 6.15 to a high of 26.04. The REITs industry median Shiller PE Ratio is 13.55. First Real Estate Investment Trust of New Jersey's value of 11.48 is 15.3% below this industry median. Based on the distribution chart, First Real Estate Investment Trust of New Jersey ranks #197 out of 477 companies in the REITs industry, which is above the industry midpoint. 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 Shiller PE Ratio compare to ELME and MRTI?
According to the REITs industry distribution chart, First Real Estate Investment Trust of New Jersey ranks #197 out of 477 companies for Shiller PE Ratio. This puts First Real Estate Investment Trust of New Jersey in the upper half of its industry. The industry median Shiller PE Ratio is 13.55. First Real Estate Investment Trust of New Jersey's value of 11.48 is 15.3% below this benchmark. Historically, First Real Estate Investment Trust of New Jersey's own Shiller PE Ratio has ranged from 6.15 to 26.04 over the past decade. While the company's 10-year median is 12.76 vs. the industry median of 13.55, First Real Estate Investment Trust of New Jersey has consistently been below 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 Shiller PE Ratio for a REITs company?
The median Shiller PE Ratio among REITs companies is 13.55, based on 477 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio 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 Shiller PE Ratio of 11.48 is 15.3% below 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on First Real Estate Investment Trust of New Jersey and its competitors. For the REITs industry, the median Shiller PE Ratio is 13.55 — 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 Shiller PE Ratio is 11.48, which is 10% below median its own 10-year median of 12.76. 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 Shiller PE Ratio is 11.48, which is 10% below median its 10-year median of 12.76 and 15.3% below the REITs industry median of 13.55. 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 Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For First Real Estate Investment Trust of New Jersey (FREVS), the current Shiller PE Ratio is 11.48 as of Aug. 19, 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:
Shiller PE Ratio: 11.48 (10% below median its 10-year median of 12.76)
GF Value™: $17.10 vs. price of $21.35 (24.9% above fair value)
Industry Position: 15.3% below the REITs median (#197 of 477)
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
Get the complete analysis for FREVS
Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FREVS has been successfully added to your 
