Urstadt Biddle Properties (UBA) 10-Q 10 Mar 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Jan. 31, 2017	Mar. 06, 2017	Apr. 30, 2016
Entity Information [Line Items]
Entity Registrant Name	URSTADT BIDDLE PROPERTIES INC
Entity Central Index Key	1,029,800
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2017
Common Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 41,769,387
Entity Common Stock, Shares Outstanding		9,661,247
Class A Common Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 596,259,676
Entity Common Stock, Shares Outstanding		29,730,327

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jan. 31, 2017	Oct. 31, 2016
Real Estate Investments:
Real Estate - at cost	$ 1,028,208	$ 1,016,838
Less: Accumulated depreciation	(191,689)	(186,098)
Investment property, net	836,519	830,740
Investments in and advances to unconsolidated joint ventures	38,311	38,469
Loans Receivable, Gross, Commercial, Mortgage	13,500	13,500
Total real estate investments	888,330	882,709
Cash and cash equivalents	5,042	7,271
Restricted cash	1,931	2,024
Tenant receivables	23,257	18,890
Prepaid expenses and other assets	18,371	13,338
Deferred charges, net of accumulated amortization	7,890	7,092
Total Assets	944,821	931,324
Liabilities:
Revolving credit lines	23,000	8,000
Mortgage notes payable and other loans	271,500	273,016
Accounts payable and accrued expenses	5,943	4,977
Deferred compensation - officers	92	130
Other liabilities	28,666	27,915
Total Liabilities	329,201	314,038
Redeemable Noncontrolling Interests	18,934	18,253
Commitments and Contingencies
Stockholders' Equity:
Excess Stock, par value $0.01 per share; 20,000,000 shares authorized; none issued and outstanding	0	0
Additional paid in capital	510,518	509,660
Cumulative distributions in excess of net income	(121,508)	(114,091)
Accumulated other comprehensive (loss)	2,906	(1,303)
Total Stockholders' Equity	596,686	599,033
Total Liabilities and Stockholders' Equity	944,821	931,324
7.125% Series F Cumulative Preferred Stock [Member]
Stockholders' Equity:
Preferred Stock (liquidation preference $25 per share)	129,375	129,375
Series G Cumulative Preferred Stock [Member]
Stockholders' Equity:
Preferred Stock (liquidation preference $25 per share)	75,000	75,000
Common Stock [Member]
Stockholders' Equity:
Class A Common Stock, par value $.01 per share; 40,000,000 shares authorized; 29,633,520 and 26,370,216 shares issued and outstanding	98	96
Class A Common Stock [Member]
Stockholders' Equity:
Class A Common Stock, par value $.01 per share; 40,000,000 shares authorized; 29,633,520 and 26,370,216 shares issued and outstanding	$ 297	$ 296

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Jan. 31, 2017	Oct. 31, 2016
Stockholders' Equity:
Excess stock, par value (in dollars per share)	$ 0.01	$ 0.01
Excess stock, shares authorized (in shares)	20,000,000	20,000,000
Excess stock, shares issued (in shares)	0	0
Excess stock, shares outstanding (in shares)	0	0
7.125% Series F Cumulative Preferred Stock [Member]
Stockholders' Equity:
Preferred stock, dividend rate	7.125%	7.125%
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, shares issued (in shares)	5,175,000	5,175,000
Preferred Stock, shares outstanding (in shares)	5,175,000	5,175,000
Series G Cumulative Preferred Stock [Member]
Stockholders' Equity:
Preferred stock, dividend rate	6.75%	6.75%
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, shares issued (in shares)	3,000,000	3,000,000
Preferred Stock, shares outstanding (in shares)	3,000,000	3,000,000
Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	9,661,247	9,507,973
Common stock, shares outstanding (in shares)	9,661,247	9,507,973
Class A Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	29,730,327	29,633,520
Common stock, shares outstanding (in shares)	29,730,327	29,633,520

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Revenues
Base rents	$ 21,112	$ 20,072
Recoveries from tenants	7,073	6,372
Lease termination income	24	42
Other income	861	965
Total Revenues	29,070	27,451
Expenses
Property operating	5,148	4,767
Property taxes	4,848	4,623
Depreciation and amortization	6,581	5,688
General and administrative	2,455	2,462
Provision for tenant credit losses	78	239
Acquisition costs	103	80
Directors' fees and expenses	83	83
Total Operating Expenses	19,296	17,942
Operating Income	9,774	9,509
Non-Operating Income (Expense):
Interest expense	(3,257)	(3,271)
Equity in net income (loss) from unconsolidated joint ventures	514	383
Interest, dividends and other investment income	173	51
Net Income	7,204	6,672
Noncontrolling interests:
Net income attributable to noncontrolling interests	(222)	(225)
Net income attributable to Urstadt Biddle Properties Inc.	6,982	6,447
Preferred stock dividends	(3,570)	(3,570)
Net Income Applicable to Common and Class A Common Stockholders	3,412	2,877
Common Stock [Member]
Noncontrolling interests:
Net Income Applicable to Common and Class A Common Stockholders	$ 690	$ 628
Basic Earnings Per Share:
Per Common Share (in dollars per share)	$ 0.08	$ 0.08
Diluted Earnings Per Share:
Per Common Share (in dollars per share)	0.08	0.08
Dividends Per Share:
Common (in dollars per share)	$ 0.2350	$ 0.2300
Class A Common Stock [Member]
Noncontrolling interests:
Net Income Applicable to Common and Class A Common Stockholders	$ 2,722	$ 2,249
Basic Earnings Per Share:
Per Common Share (in dollars per share)	$ 0.09	$ 0.09
Diluted Earnings Per Share:
Per Common Share (in dollars per share)	0.09	0.08
Dividends Per Share:
Common (in dollars per share)	$ 0.2650	$ 0.2600

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Net Income	$ 7,204	$ 6,672
Other comprehensive income (loss):
Change in unrealized income (losses) on interest rate swaps	4,209	(459)
Total comprehensive income	11,413	6,213
Comprehensive income attributable to noncontrolling interests	(222)	(225)
Total Comprehensive income attributable to Urstadt Biddle Properties Inc.	11,191	5,988
Preferred stock dividends	(3,570)	(3,570)
Total comprehensive income applicable to Common and Class A Common Stockholders	$ 7,621	$ 2,418

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash Flows from Operating Activities:
Net income	$ 7,204	$ 6,672
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,581	5,688
Straight-line rent adjustment	(238)	(211)
Provision for tenant credit losses	78	239
Restricted stock compensation expense and other adjustments	810	1,117
Deferred compensation arrangement	(38)	(45)
Equity in net (income) of unconsolidated joint ventures	(514)	(383)
Proceeds from Equity Method Investment, Dividends or Distributions	514	383
Changes in operating assets and liabilities:
Tenant receivables	(4,207)	(514)
Accounts payable and accrued expenses	5,175	2,776
Other assets and other liabilities, net	(3,923)	(6,312)
Restricted Cash	94	(131)
Net Cash Flow Provided by Operating Activities	11,536	9,279
Cash Flows from Investing Activities:
Acquisitions of real estate investments	(8,852)	0
Investments in and advances to unconsolidated joint venture	(138)	0
Deposits on acquisition of real estate investments	(2,500)	(479)
Returns of deposits on real estate investments	500	640
Improvements to properties and deferred charges	(2,643)	(5,927)
Distributions to noncontrolling interests	(222)	(225)
Return of capital from unconsolidated affiliates	271	298
Net Cash Flow (Used in) Investing Activities	(13,584)	(5,693)
Cash Flows from Financing Activities:
Dividends paid - Common and Class A Common Stock	(10,148)	(9,066)
Dividends paid - Preferred Stock	(3,570)	(3,570)
Principal repayments on mortgage notes payable	(1,512)	(1,457)
Repayment of revolving credit line borrowings	0	(3,000)
Proceeds from revolving credit line borrowings	15,000	10,000
Sales of additional shares of Common and Class A Common Stock	49	57
Net Cash Flow Provided by (Used In) Financing Activities	(181)	(7,036)
Net (Decrease) In Cash and Cash Equivalents	(2,229)	(3,450)
Cash and Cash Equivalents at Beginning of Period	7,271	6,623
Cash and Cash Equivalents at End of Period	5,042	3,173
Supplemental Cash Flow Disclosures:
Interest Paid	$ 3,199	$ 3,253

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - 3 months ended Jan. 31, 2017 - USD ($) $ in Thousands	Preferred Stock [Member]7.125% Series F Preferred Stock [Member]	Preferred Stock [Member]6.75% Series G Preferred Stock [Member]	Common Stock [Member]Common Stock [Member]	Common Stock [Member]Class A Common Stock [Member]	Additional Paid In Capital [Member]	Additional Paid In Capital [Member]Common Stock [Member]	Additional Paid In Capital [Member]Class A Common Stock [Member]	Cumulative Distributions in Excess of Net Income [Member]	Cumulative Distributions in Excess of Net Income [Member]Common Stock [Member]	Cumulative Distributions in Excess of Net Income [Member]Class A Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]Common Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]Class A Common Stock [Member]	Total	Common Stock [Member]	Class A Common Stock [Member]
Balance at Oct. 31, 2016	$ 129,375	$ 75,000	$ 96	$ 296	$ 509,660			$ (114,091)			$ (1,303)			$ 599,033
Balance (in shares) at Oct. 31, 2016	5,175,000	3,000,000	9,507,973	29,633,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income applicable to Common and Class A common stockholders	$ 0	$ 0	$ 0	$ 0	0			3,412			0			3,412	$ 690	$ 2,722
Change in unrealized losses on interest rate swap	0	0	0	0	0			0			4,209			4,209
Cash dividends paid :
Common stock	0	0	0	0		$ 0	$ 0		$ (2,270)	$ (7,878)		$ 0	$ 0		$ (2,270)	$ (7,878)
Issuance of shares under dividend reinvestment plan	0	0	$ 0	$ 0	51			0			0			51
Issuance of shares under dividend reinvestment plan (in shares)			1,174	1,282
Shares issued under restricted stock plan	0	0	$ 2	$ 1	(3)			0			0			0
Shares issued under restricted stock plan (in shares)			152,100	96,225
Forfeiture of restricted stock (in shares)				(700)
Restricted stock compensation and other adjustments	0	0	$ 0	$ 0	810			0			0			810
Adjustments to redeemable noncontrolling interests	0	0	0	0	0			(681)			0			(681)
Balance at Jan. 31, 2017	$ 129,375	$ 75,000	$ 98	$ 297	$ 510,518			$ (121,508)			$ 2,906			$ 596,686
Balance (in shares) at Jan. 31, 2017	5,175,000	3,000,000	9,661,247	29,730,327

CONSOLIDATED STATEMENT OF STOC8

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical)	3 Months Ended
	Jan. 31, 2017$ / shares
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends per share declared (in dollars per share)	$ 0.2350
Class A Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends per share declared (in dollars per share)	$ 0.2650
7.125% Series F Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock, dividend rate	7.125%
6.75% Series G Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock, dividend rate	6.75%
Preferred Stock [Member] | 7.125% Series F Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock, dividend rate	7.125%
Preferred Stock [Member] | 6.75% Series G Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock, dividend rate	6.75%
Common Stock [Member] | Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends per share declared (in dollars per share)	$ 0.235
Common Stock [Member] | Class A Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends per share declared (in dollars per share)	$ 0.265

ORGANIZATION, BASIS OF PRESENTA

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jan. 31, 2017
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Urstadt Biddle Properties Inc. ("Company"), a Maryland Corporation, is a real estate investment trust (REIT), engaged in the acquisition, ownership and management of commercial real estate, primarily neighborhood and community shopping centers in the northeastern part of the United States with a concentration in the metropolitan New York tri-state area outside of the City of New York. The Company's major tenants include supermarket chains and other retailers who sell basic necessities. At January 31, 2017, the Company owned or had equity interests in 76 properties containing a total of 5.0 million square feet of Gross Leasable Area ("GLA"). Principles of Consolidation and Use of Estimates The accompanying consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and joint ventures in which the Company meets certain criteria of a sole general partner in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, "Consolidation" and ASC Topic 970-810 "Real Estate-General-Consolidation". The Company has determined that such joint ventures should be consolidated into the consolidated financial statements of the Company. In accordance with ASC Topic 970-323 "Real Estate-General-Equity Method and Joint Ventures," joint ventures that the Company does not control but otherwise exercises significant influence over, are accounted for under the equity method of accounting. See Note 5 for further discussion of the unconsolidated joint ventures. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the three months ended January 31, 2017 are not necessarily indicative of the results that may be expected for the year ending October 31, 2017. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the fiscal year ended October 31, 2016. The preparation of financial statements requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition, fair value estimates, and the collectability of tenant receivables and other assets and liabilities. Actual results could differ from these estimates. The balance sheet at October 31, 2016 has been derived from audited financial statements at that date. Federal Income Taxes The Company has elected to be treated as a REIT under Sections 856-860 of the Internal Revenue Code (Code). Under those sections, a REIT that, among other things, distributes at least 90% of real estate trust taxable income and meets certain other qualifications prescribed by the Code will not be taxed on that portion of its taxable income that is distributed. The Company believes it qualifies as a REIT and intends to distribute all of its taxable income for fiscal 2017 in accordance with the provisions of the Code. Accordingly, no provision has been made for Federal income taxes in the accompanying consolidated financial statements. The Company follows the provisions of ASC Topic 740, "Income Taxes" that, among other things, defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Based on its evaluation, the Company determined that it has no uncertain tax positions and no unrecognized tax benefits as of January 31, 2017. As of January 31, 2017, the fiscal tax years 2013 through and including 2016 remain open to examination by the Internal Revenue Service. There are currently no federal tax examinations in progress. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents with high quality financial institutions and the balances at times could exceed federally insured limits. The Company performs ongoing credit evaluations of its tenants and may require certain tenants to provide security deposits or letters of credit. Though these security deposits and letters of credit are insufficient to meet the terminal value of a tenant's lease obligation, they are a measure of good faith and a source of funds to offset the economic costs associated with lost rent and the costs associated with re-tenanting the space. The Company has no dependency upon any single tenant. Derivative Financial Instruments The Company occasionally utilizes derivative financial instruments, such as interest rate swaps, to manage its exposure to fluctuations in interest rates. The Company has established policies and procedures for risk assessment, and the approval, reporting and monitoring of derivative financial instruments. Derivative financial instruments must be effective in reducing the Company's interest rate risk exposure in order to qualify for hedge accounting. When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income for each period until the derivative instrument matures or is settled. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market with the changes in value included in net income. The Company has not entered into, and does not plan to enter into, derivative financial instruments for trading or speculative purposes. Additionally, the Company has a policy of entering into derivative contracts only with major financial institutions. As of January 31, 2017, the Company believes it has no significant risk associated with non-performance of the financial institutions that are the counterparties to its derivative contracts. At January 31, 2017, the Company had approximately $34.7 million in secured mortgage financings subject to interest rate swaps. Such interest rate swaps converted the LIBOR-based variable rates on the mortgage financings to an average fixed annual rate of 3.79% per annum. As of January 31, 2017, the Company had a deferred liability of $711,000 (included in accounts payable and accrued expense on the consolidated balance sheets) and a deferred asset of $562,000 (included in prepaid expenses and other assets on the consolidated balance sheets) relating to the fair value of the Company's interest rate swaps applicable to secured mortgages. In addition, in June 2016, the Company entered into a $50 million mortgage loan commitment with a lender to refinance the Company's secured mortgage on its Ridgeway property located in Stamford, CT in July 2017. In conjunction with entering into the mortgage commitment, the Company simultaneously executed with the same lender an interest rate swap contract with a $50 million notional amount that will take effect on July 17, 2017 and will be co-terminus with the new Ridgeway mortgage loan. Such interest rate swap will convert the LIBOR-based variable rate on the new Ridgeway mortgage loan to a fixed annual rate of 3.398%. As of January 31, 2017, the Company had a deferred asset of $3,055,000 (included in prepaid expenses and other assets on the consolidated balance sheets) relating to the fair value of the Company's interest rate swap applicable to the Ridgeway mortgage loan. Charges and/or credits relating to the changes in fair values of such interest rate swaps are made to other comprehensive income/(loss) as the swaps are deemed effective and are classified as a cash flow hedge. Comprehensive Income Comprehensive income is comprised of net income applicable to Common and Class A Common stockholders and other comprehensive income (loss). Other comprehensive income includes items that are otherwise recorded directly in stockholders' equity, such as unrealized gains and losses on interest rate swaps designated as cash flow hedges. At January 31, 2017, accumulated other comprehensive income/(loss) consisted of net unrealized gains on interest rate swap agreements of $2.9 million. At October 31, 2016, accumulated other comprehensive income/(loss) consisted of net unrealized (losses) on interest rate swap agreements of approximately $(1.3) million. Unrealized gains and losses included in other comprehensive income/(loss) will be reclassified into earnings as gains and losses are realized. Asset Impairment On a periodic basis, management assesses whether there are any indicators that the value of its real estate investments may be impaired. A property value is considered impaired when management's estimate of current and projected operating cash flows (undiscounted and without interest) of the property over its remaining useful life is less than the net carrying value of the property. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. To the extent impairment has occurred, the loss is measured as the excess of the net carrying amount of the property over the fair value of the asset. Changes in estimated future cash flows due to changes in the Company's plans or market and economic conditions could result in recognition of impairment losses which could be substantial. Management does not believe that the value of any of its real estate investments is impaired at January 31, 2017. Acquisitions of Real Estate Investments, Capitalization Policy and Depreciation Acquisition of Real Estate Investments: In January 2017, the FASB issued an ASU 2017-01 that clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. This update is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted for transactions that have not been reported in previously issued (or available to be issued) financial statements. The Company early adopted this accounting standard effective November 1, 2016. As a result of this adoption, we evaluated one real estate acquisition completed during the first quarter of 2017 under the new framework and determined that the asset acquired did not meet the definition of a business. Accordingly, we accounted for this transaction as an asset acquisition. Refer to Note 2 – "Real Estate Investments" to our consolidated financial statements for a further discussion regarding this acquisition. Evaluation of business combination or asset acquisition: The Company evaluates each acquisition of real estate or in-substance real estate (including equity interests in entities that predominantly hold real estate assets) to determine if the integrated set of assets and activities acquired meet the definition of a business and need to be accounted as a business combination. If either of the following criteria is met, the integrated set of assets and activities acquired would not qualify as a business: • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e. revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce), that is skilled, knowledgeable, and experienced in performing the process; • The process cannot be replaced without significant cost, effort, or delay; or • The process is considered unique or scarce. Generally, we expect that acquisitions of real estate or in-substance real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. For acquisitions of real estate or in-substance real estate, prior to the adoption of ASU 2017-01, which are accounted for as business combinations, we recognize the assets acquired (including the intangible value of acquired above- or below-market leases, acquired in-place leases and other intangible assets or liabilities), liabilities assumed, noncontrolling interests and previously existing ownership interests at fair value as of the acquisition date. Any excess (deficit) of the consideration transferred relative to the fair value of the net assets acquired is accounted for as goodwill. Acquisition costs related to the business combinations are expensed as incurred. Acquisitions of real estate and in-substance real estate which do not meet the definition of a business are accounted for as asset acquisitions. The accounting model for asset acquisitions is similar to the accounting model for business combinations except that the acquisition consideration (including acquisition costs) is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in the recognition of goodwill or a bargain purchase gain. In addition, because the accounting model for asset acquisitions is a cost accumulation model, pre-existing interests in the acquired assets, if any, are not re-measured to fair value but continue to be accounted for at their historical basis. The relative fair values used to allocate the cost of an asset acquisition are determined using the same methodologies and assumptions as we utilize to determine fair value in a business combination. The value of tangible assets acquired is based upon our estimation of value on an "as if vacant" basis. The value of acquired in-place leases includes the estimated costs during the hypothetical lease-up period and other costs that would have been incurred in the execution of similar leases under the market conditions at the acquisition date of the acquired in-place lease. We assess the fair value of tangible and intangible assets based on numerous factors, including estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including the historical operating results, known trends, and market/economic conditions that may affect the property. The values of acquired above- and below-market leases are amortized over the terms of the related leases and recognized as either an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. The values of acquired in-place leases are classified in other assets in the accompanying consolidated balance sheets and amortized over the remaining terms of the related leases. Capitalization Policy: Land, buildings, property improvements, furniture/fixtures and tenant improvements are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred. Renovations and/or replacements, which improve or extend the life of the asset, are capitalized and depreciated over their estimated useful lives. Depreciation: The Company is required to make subjective assessments as to the useful life of its properties for purposes of determining the amount of depreciation. These assessments have a direct impact on the Company's net income. Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Buildings 30-40 years Property Improvements 10-20 years Furniture/Fixtures 3-10 years Tenant Improvements Shorter of lease term or their useful life Property Held for Sale The Company reports properties that are either disposed of or are classified as held for sale in continuing operations in the consolidated statement of income if the removal, or anticipated removal, of the asset(s) from the reporting entity does not represent a strategic shift that has or will have a major effect on an entity's operations and financial results when disposed of. The Company previously entered into a contract to sell its White Plains property and in April 2016, the Company satisfied the remaining contingency under the sale contract and expects to close on the sale of the property later in fiscal 2017. In accordance with ASC Topic 360-10-45, the asset met all of the criteria to be classified as held for sale beginning in April 2016, but because the net book value of the White Plains asset is insignificant to financial statement presentation, the Company will not include the asset as held for sale on the consolidated balance sheet for all periods presented. The operating results of the White Plains property which is included in continuing operations was as follows (amounts in thousands): Three Months Ended January 31, 2017 2016 Revenues $ - $ 95 Property operating expense (256 ) (328 ) Depreciation and amortization - (286 ) Net Income $ (256 ) $ (519 ) Revenue Recognition Revenues from operating leases include revenues from properties. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. At January 31, 2017 and October 31, 2016, $17,064,000 and $16,829,000, respectively, has been recognized as straight-line rents receivable (representing the current cumulative rents recognized prior to when billed and collectible as provided by the terms of the leases), all of which is included in tenant receivables in the accompanying consolidated financial statements. Percentage rent is recognized when a specific tenant's sales breakpoint is achieved. Property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs are recognized in the period the related expenses are incurred. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms. Lease termination amounts are recognized in operating revenues when there is a signed termination agreement, all of the conditions of the agreement have been met, the tenant is no longer occupying the property and the termination consideration is probable of collection. Lease termination amounts are paid by tenants who want to terminate their lease obligations before the end of the contractual term of the lease by agreement with the Company. There is no way of predicting or forecasting the timing or amounts of future lease termination fees. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses under U.S. GAAP have been met. The Company provides an allowance for doubtful accounts against the portion of tenant receivables (including an allowance for future tenant credit losses of approximately 10% of the deferred straight-line rents receivable) which is estimated to be uncollectible. Such allowances are reviewed periodically. At January 31, 2017 and October 31, 2016, tenant receivables in the accompanying consolidated balance sheets are shown net of allowances for doubtful accounts of $4,152,000 and $4,097,000, respectively. Earnings Per Share The Company calculates basic and diluted earnings per share in accordance with the provisions of ASC Topic 260, "Earnings Per Share." Basic earnings per share ("EPS") excludes the impact of dilutive shares and is computed by dividing net income applicable to Common and Class A Common stockholders by the weighted average number of Common shares and Class A Common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue Common shares or Class A Common shares were exercised or converted into Common shares or Class A Common shares and then shared in the earnings of the Company. Since the cash dividends declared on the Company's Class A Common stock are higher than the dividends declared on the Common Stock, basic and diluted EPS have been calculated using the "two-class" method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to the weighted average of the dividends declared, outstanding shares per class and participation rights in undistributed earnings. The following table sets forth the reconciliation between basic and diluted EPS (in thousands): Three Months Ended January 31, 2017 2016 Numerator Net income applicable to common stockholders – basic $ 690 $ 628 Effect of dilutive securities: Restricted stock awards 32 28 Net income applicable to common stockholders – diluted $ 722 $ 656 Denominator Denominator for basic EPS – weighted average common shares 8,382 8,240 Effect of dilutive securities: Restricted stock awards 533 496 Denominator for diluted EPS – weighted average common equivalent shares 8,915 8,736 Numerator Net income applicable to Class A common stockholders-basic $ 2,722 $ 2,249 Effect of dilutive securities: Restricted stock awards (32 ) (28 ) Net income applicable to Class A common stockholders – diluted $ 2,690 $ 2,221 Denominator Denominator for basic EPS – weighted average Class A common shares 29,311 26,080 Effect of dilutive securities: Restricted stock awards 128 94 Denominator for diluted EPS – weighted average Class A common equivalent shares 29,439 26,174 Segment Reporting The Company's primary business is the ownership, management, and redevelopment of retail properties. The Company reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. The Company evaluates financial performance using property operating income, which consists of base rental income and tenant reimbursement income, less rental expenses and real estate taxes. Only one of the Company's properties, located in Stamford, CT ("Ridgeway"), is considered significant as its revenue is in excess of 10% of the Company's consolidated total revenues and accordingly is a reportable segment. The Company has aggregated the remainder of its properties as they share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in the same major metropolitan area, and have similar tenant mixes. Ridgeway is located in Stamford, Connecticut and was developed in the 1950's and redeveloped in the mid 1990's. The property contains approximately 374,000 square feet of GLA. It is the dominant grocery-anchored center and the largest non-mall shopping center located in the City of Stamford, Fairfield County, Connecticut. Segment information about Ridgeway as required by ASC Topic 280 is included below: Three Months Ended January 31, 2017 2016 Ridgeway Revenues 11.9 % 11.6 % All Other Property Revenues 88.1 % 88.4 % Consolidated Revenue 100.0 % 100.0 % January 31, 2017 October 31, 2016 Ridgeway Assets 7.7 % 7.6 % All Other Property Assets 92.3 % 92.4 % Consolidated Assets (Note 1) 100.0 % 100.0 % Note 1 - Ridgeway did not have any significant expenditures for additions to long lived assets in the three months ended January 31, 2017 or the year ended October 31, 2016. January 31, 2017 October 31, 2016 Ridgeway Percent Leased 97 % 98 % Three Months Ended January 31, 2017 2016 The Stop & Shop Supermarket Company 19 % 19 % Bed, Bath & Beyond 14 % 14 % Marshall's Inc., a division of the TJX Companies 11 % 11 % All Other Tenants at Ridgeway (Note 2) 56 % 56 % Total 100 % 100 % Note 2 - No other tenant accounts for more than 10% of Ridgeway's annual base rents in any of the periods presented. Percentages are calculated as a ratio of the tenants' base rent divided by total base rent of Ridgeway. Income Statement (In Thousands): Three Months Ended January 31, 2017 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,465 $ 25,605 $ 29,070 Operating Expenses $ 1,086 $ 8,910 $ 9,996 Interest Expense $ 612 $ 2,645 $ 3,257 Depreciation and Amortization $ 1,111 $ 5,470 $ 6,581 Income from Continuing Operations $ 656 $ 6,326 $ 6,982 Income Statement (In Thousands): Three Months Ended January 31, 2016 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,154 $ 24,297 $ 27,451 Operating Expenses $ 891 $ 8,499 $ 9,390 Interest Expense $ 627 $ 2,644 $ 3,271 Depreciation and Amortization $ 588 $ 5,100 $ 5,688 Income from Continuing Operations $ 1,048 $ 5,399 $ 6,447 Stock-Based Compensation The Company accounts for its stock-based compensation plans under the provisions of ASC Topic 718, "Stock Compensation", which requires that compensation expense be recognized, based on the fair value of the stock awards less estimated forfeitures. The fair value of stock awards is equal to the fair value of the Company's stock on the grant date. Reclassifications Certain prior period amounts have been reclassified to conform to the current period's presentation. New Accounting Standards In May 2014, the FASB issued Accounting Standards Update ("ASU") ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying ASU 2014-09, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB's ASC. ASU 2014-09 is effective for annual reporting periods (including interim periods within that reporting period) beginning after December 15, 2016 and shall be applied using either a full retrospective or modified retrospective approach. Early application is not permitted. In August 2015, FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all public companies for all annual periods beginning after December 15, 2017 with early adoption permitted only as of annual reporting periods beginning after December 31, 2016, including interim periods within the reporting period. In March 2016, the FASB issued ASU 2016-08 as an amendment to ASU 2014-09, the amendment clarifies how to identify the unit of accounting for the principal versus agent evaluation, how to apply the control principle to certain types of arrangements, such as service transaction, and reframed the indicators in the guidance to focus on evidence that an entity is acting as a principal rather than as an agent. The Company is currently assessing the potential impact that the adoption of ASU 2014-09 and ASU 2016-08 will have on its consolidated financial statements. While we are still completing the assessment of the impact of our consolidated financial statements, we believe the majority of our revenue falls outside of the scope of this guidance. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 significantly changes the accounting for leases by requiring lessees to recognize assets and liabilities for leases greater than 12 months on their balance sheet. The lessor model stays substantially the same; however, there were modifications to conform lessor accounting with the lessee model, eliminate real estate specific guidance, further define certain lease and non-lease components, and change the definition of initial direct costs of leases requiring significantly more leasing related costs to be expensed upfront. ASU 2016-02 is effective for the Company in the first quarter of fiscal 2020, and we are currently assessing the impact this standard will have on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15 that provides guidance, amongst other things, on classification of cash distributions received from equity method investments, including unconsolidated joint ventures. The ASU provides two approaches to determine the classification of cash distributions received: (i) the "cumulative earnings" approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities, and (ii) the "nature of the distribution" approach, under which distributions will be classified based on the nature of the underlying activity that generated cash distributions. Companies will elect either the "cumulative earnings" or the "nature of the distribution" approach. Entities that elect the "nature of the distribution" approach but lack the information to apply it will apply the cumulative earnings approach as an accounting change on a retrospective basis. ASU 2016-15 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively (exceptions apply). We are currently assessing the effect that ASU 2016-15 will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01 that clarified the definition of a business. The ASU 2017-01 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted. We adopted ASU 2017-01 on November 1, 2016. Refer to "Acquisitions of Real Estate Investments, Capitalization Policy and Depreciation" above for a discussion of this new accounting pronouncement. The Company has evaluated all other new ASU's issued by FASB, and has concluded that these updates do not have a material effect on the Company's consolidated financial statements as of January 31, 2017.

REAL ESTATE INVESTMENTS

REAL ESTATE INVESTMENTS	3 Months Ended
	Jan. 31, 2017
REAL ESTATE INVESTMENTS [Abstract]
REAL ESTATE INVESTMENTS	(2) REAL ESTATE INVESTMENTS The Company is currently under contract to purchase, for $7.1 million, a 36,500 square foot grocery anchored shopping center located in its primary marketplace. The Company will fund the acquisition with available cash, the assumption of a mortgage note secured by the property, in the approximate amount of $3.3 million, and borrowings on its Unsecured Revolving Credit Facility (the "Facility") (see note 3). In January 2017, the Company purchased for $9.0 million, a 38,800 square foot grocery anchored shopping center located in Derby, CT ("Derby Property"). The Company funded the purchase with a combination of available cash and borrowings on its Facility. The Company evaluated the above transaction, under the new framework for determining whether an integrated set of assets and activities meets the definition of a business, pursuant to ASU 2017-01, which the Company early-adopted effective November 1, 2016. Acquisitions that do not meet the definition of a business are accounted for as asset acquisitions (see note 1). Accordingly, the Company accounted for the purchase of the Derby Property as an asset acquisition and allocated the total cash consideration, including transaction costs, to the individual assets and liabilities acquired on a relative fair value basis. Prior to adopting ASU 2017-01, The Company acquired two properties in fiscal 2016, which were accounted for as business combinations as required by ASC Topic 805. ASC Topic 805 required the fair value of the real estate purchased to be allocated to the acquired tangible assets (consisting of land, buildings and building improvements), and identified intangible assets and liabilities (consisting of above-market and below-market leases and in-place leases). Acquisition costs related to the business combinations were expensed as incurred. The Company is currently in the process of analyzing the fair value of the acquired assets and liabilities for the Newfield Green and High Ridge Road properties acquired in 2016 and consequently, the purchase price allocation is preliminary and may be subject to change. For the three month periods ended January 31, 2017 and 2016, the net amortization of above-market and below-market leases was approximately $15,000 and $89,000, respectively, which is included in base rents in the accompanying consolidated statements of income.

MORTGAGE NOTE RECEIVABLE

MORTGAGE NOTE RECEIVABLE	3 Months Ended
	Jan. 31, 2017
MORTGAGE NOTE RECEIVABLE [Abstract]
MORTGAGE NOTE RECEIVABLE	(3) MORTGAGE NOTE RECEIVABLE In October 2016, the Company, though a wholly-owned subsidiary originated a loan in the amount of $13.5 million secured by a first mortgage on a shopping center located in Rockland County, NY. The loan requires payments to the Company of interest only recognized on the effective yield method at the rate of one-month LIBOR plus 3.25% per annum. The loan has a maturity date of October 10, 2017.

MORTGAGE NOTES PAYABLE, BANK LI

MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS	3 Months Ended
	Jan. 31, 2017
MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS [Abstract]
MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS	(4) MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS The Company has a $100 million unsecured revolving credit facility with a syndicate of three banks led by The Bank of New York Mellon, as administrative agent. The syndicate also includes Wells Fargo Bank N.A. and Bank of Montreal (co-syndication agent). The Facility gives the Company the option, under certain conditions, to increase the Facility's borrowing capacity up to $150 million (subject to lender approval). The maturity date of the Facility is August 23, 2020 with a one-year extension at the Company's option. Borrowings under the Facility can be used for general corporate purposes and the issuance of letters of credit (up to $10 million). Borrowings will bear interest at the Company's option of Eurodollar rate plus 1.35% to 1.95% or The Bank of New York Mellon's prime lending rate plus 0.35% to 0.95% based on consolidated indebtedness, as defined. The Company pays a quarterly fee on the unused commitment amount of 0.15% to 0.25% per annum based on outstanding borrowings during the year. The Facility contains certain representations, financial and other covenants typical for this type of facility. The Company's ability to borrow under the Facility is subject to its compliance with the covenants and other restrictions on an ongoing basis. The principal financial covenants limit the Company's level of secured and unsecured indebtedness and additionally require the Company to maintain certain debt coverage ratios. During the three months ended January 31, 2017, the Company borrowed $15.0 million on the Facility to fund capital improvements and property acquisitions.

CONSOLIDATED JOINT VENTURES AND

CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS	3 Months Ended
	Jan. 31, 2017
CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS [Abstract]
CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS	(5) CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS. The Company has an investment in three joint ventures, UB Ironbound, LP ("Ironbound"), UB Orangeburg, LLC ("Orangeburg") and McLean Plaza Associates, LLC ("McLean"), each of which owns a commercial retail property. The Company has evaluated its investment in these three joint ventures and has concluded that the ventures are not Variable Interest Entities ("VIEs"); however, these joint venture investments meet certain criteria of a sole general partner (or limited liability member) in accordance with ASC Topic 970-810 "Real Estate-Consolidation". The Company has determined that such joint ventures are fully controlled by the Company and that the presumption of control is not offset by any rights of any of the limited partners or non-controlling members in these ventures and that the joint ventures should be consolidated into the consolidated financial statements of the Company. The Company's investment in these consolidated joint ventures is more fully described below: Ironbound (Ferry Plaza) The Company, through a wholly-owned subsidiary, is the general partner and owns 84% of one consolidated limited partnership, Ironbound, which owns a grocery anchored shopping center. The Ironbound limited partnership has a defined termination date of December 31, 2097. The partners in Ironbound are entitled to receive an annual cash preference payable from available cash of the partnership. Any unpaid preferences accumulate and are paid from future cash, if any. The balance of available cash, if any, is distributed in accordance with the respective partner's interests. Upon liquidation of Ironbound, proceeds from the sale of partnership assets are to be distributed in accordance with the respective partnership interests. The limited partners are not obligated to make any additional capital contributions to the partnership. Orangeburg The Company, through a wholly-owned subsidiary, is the managing member and owns a 33.5% interest in Orangeburg, which owns a drug store anchored shopping center. The other member (non-managing) of Orangeburg is the prior owner of the contributed property who, in exchange for contributing the net assets of the property, received units of Orangeburg equal to the value of the contributed property less the value of the assigned first mortgage payable. The Orangeburg operating agreement provides for the non-managing member to receive an annual cash distribution equal to the regular quarterly cash distribution declared by the Company for one share of the Company's Class A Common stock, which amount is attributable to each unit of Orangeburg ownership. The annual cash distribution is paid from available cash, as defined, of Orangeburg. The balance of available cash, if any, is fully distributable to the Company. Upon liquidation, proceeds from the sale of Orangeburg assets are to be distributed in accordance with the operating agreement. The non-managing member is not obligated to make any additional capital contributions to the partnership. Orangeburg has a defined termination date of December 31, 2097. Since purchasing this property, the Company has made additional investments in the amount of $4.1 million in Orangeburg, and as a result, as of January 31, 2017 the Company's ownership percentage has increased to 33.5% from approximately 2.92% at inception. McLean Plaza The Company, through a wholly-owned subsidiary, is the managing member and owns a 53% interest in McLean, which owns a grocery anchored shopping center. The McLean operating agreement provides for the non-managing members to receive a fixed annual cash distribution equal to 5.05% of their invested capital. The annual cash distribution is paid from available cash, as defined, of McLean. The balance of available cash, if any, is fully distributable to the Company. Upon liquidation, proceeds from the sale of McLean assets are to be distributed in accordance with the operating agreement. The non-managing members are not obligated to make any additional capital contributions to the entity. Noncontrolling Interests The Company accounts for noncontrolling interests in accordance with ASC Topic 810, "Consolidation." Because the limited partners or noncontrolling members in Ironbound, Orangeburg and McLean have the right to require the Company to redeem all or a part of their limited partnership or limited liability company units for cash, or at the option of the Company shares of its Class A Common stock, at prices as defined in the governing agreements, the Company reports the noncontrolling interests in the consolidated joint ventures in the mezzanine section, outside of permanent equity, of the consolidated balance sheets at redemption value which approximates fair value. The value of the Orangeburg and McLean redemptions are based solely on the price of the Company's Class A Common stock on the date of redemption. For the three months ended January 31, 2017 and 2016, the Company increased/(decreased) the carrying value of the noncontrolling interests by $681,000 and $926,000 respectively, with the corresponding adjustment recorded in stockholders' equity. The following table sets forth the details of the Company's redeemable non-controlling interests at January 31, 2017 and October 31, 2016 (amounts in thousands): January 31, 2017 October 31, 2016 Beginning Balance $ 18,253 $ 15,955 Change in Redemption Value 681 2,298 Ending Balance $ 18,934 $ 18,253

INVESTMENTS IN AND ADVANCES TO

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES	3 Months Ended
	Jan. 31, 2017
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES [Abstract]
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES	(6) INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES At January 31, 2017 and October 31, 2016 investments in and advances to unconsolidated joint ventures consisted of the following (with the Company's ownership percentage in parentheses) (amounts in thousands): January 31, 2017 October 31, 2016 Chestnut Ridge and Plaza 59 Shopping Centers (50%) $ 18,114 $ 18,200 Gateway Plaza (50%) 7,056 7,160 Putnam Plaza Shopping Center (66.67%) 5,962 5,970 Midway Shopping Center, L.P. (11.642%) 4,748 4,856 Applebee's at Riverhead (50%) 1,708 1,560 81 Pondfield Road Company (20%) 723 723 Total $ 38,311 $ 38,469 Gateway Plaza and Applebee's at Riverhead The Company, through two wholly owned subsidiaries, owns a 50% undivided tenancy-in-common interest in the Gateway Plaza Shopping Center ("Gateway") and Applebee's at Riverhead ("Applebee's"). Both properties are located in Riverhead, New York. Gateway, a 198,500 square foot shopping center, is anchored by a 168,000 square foot Walmart, which also has 27,000 square feet of in-line space that is partially leased and a newly constructed 3,500 square foot outparcel that is leased. Applebee's has a 5,400 square foot free standing Applebee's restaurant with a newly constructed 7,200 square foot pad site that is leased. Gateway is subject to a $13.0 million non-recourse first mortgage payable. The mortgage matures on March 31, 2024 and requires payments of principal and interest at a fixed rate of interest of 4.2% per annum. Midway Shopping Center, L.P. The Company, through a wholly owned subsidiary, owns an 11.64% equity interest in Midway Shopping Center L.P. ("Midway"), which owns a 247,000 square foot shopping center in Westchester County, New York. Although the Company only has an approximate 12% equity interest in Midway, it controls 25% of the voting power of Midway and as such, has determined that it exercises significant influence over the financial and operating decisions of Midway and accounts for its investment in Midway under the equity method of accounting. The Company has allocated the $7.4 million excess of the carrying amount of its investment in and advances to Midway over the Company's share of Midway's net book value to real property and is amortizing the difference over the property's estimated useful life of 39 years. Midway is subject to a non-recourse first mortgage in the amount of $29.1 million. The loan requires payments of principal and interest at the rate of 4.80% per annum and will mature in 2027. Chestnut Ridge and Plaza 59 Shopping Centers The Company, through two wholly owned subsidiaries, owns a 50% undivided tenancy-in-common interest in the 76,000 square foot Chestnut Ridge Shopping Center located in Montvale, New Jersey ("Chestnut"), which is anchored by a Fresh Market grocery store, and the 24,000 square foot Plaza 59 Shopping Center located in Spring Valley, New York ("Plaza 59"), which is anchored by a local grocer. Putnam Plaza Shopping Center The Company, through a wholly owned subsidiary, owns a 66.67% (noncontrolling) undivided tenancy-in-common interest in the 189,000 square foot Putnam Plaza Shopping Center ("Putnam Plaza") located in Carmel, New York, which is anchored by a Tops grocery store. Putnam Plaza is subject to a first mortgage payable in the amount of $19.4 million. The mortgage requires monthly payments of principal and interest at a fixed rate of 4.17% and will mature in 2019. 81 Pondfield Road Company The Company's other investment in an unconsolidated joint venture is a 20% economic interest in a partnership that owns a retail and office building in Westchester County, New York. The Company accounts for the above investments under the equity method of accounting since it exercises significant influence, but does not control the joint ventures. The other venturers in the joint ventures have substantial participation rights in the financial decisions and operation of the ventures or properties, which preclude the Company from consolidating the investments. The Company has evaluated its investment in the joint ventures and has concluded that the joint ventures are not VIE's. Under the equity method of accounting the initial investment is recorded at cost as an investment in unconsolidated joint venture, and subsequently adjusted for equity in net income (loss) and cash contributions and distributions from the venture. Any difference between the carrying amount of the investment on the Company's balance sheet and the underlying equity in net assets of the venture is evaluated for impairment at each reporting period.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Jan. 31, 2017
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	(7) STOCKHOLDERS' EQUITY Authorized Stock The Company's Charter authorizes 200,000,000 shares of stock. The total number of shares of authorized stock consists of 100,000,000 shares of Class A Common Stock, 30,000,000 shares of Common Stock, 50,000,000 shares of Preferred Stock, and 20,000,000 shares of Excess Stock. Restricted Stock Plan The Company has a Restricted Stock Plan that provides a form of equity compensation for employees of the Company. The Plan, which is administered by the Company's compensation committee, authorizes grants of up to an aggregate of 4,500,000 shares of the Company's common equity consisting of 350,000 Common shares, 350,000 Class A Common shares and 3,800,000 shares, which at the discretion of the compensation committee, may be awarded in any combination of Class A Common shares or Common shares. In accordance with ASC Topic 718, the Company recognizes compensation expense for restricted stock awards upon the earlier of the explicit vesting period or the date a participant first becomes eligible for retirement unless a waiver is received by an employee over the retirement age, waving his right to continued vesting after retirement. During the three months ended January 31, 2017, the Company awarded 152,100 shares of Common Stock and 96,225 shares of Class A Common Stock to participants in the Plan. The grant date fair value of restricted stock grants awarded to participants in 2017 was approximately $5.2 million. A summary of the status of the Company's non-vested Common and Class A Common shares as of January 31, 2017, and changes during the three months ended January 31, 2017 is presented below: Common Shares Class A Common Shares Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Non-vested at October 31, 2016 1,258,000 $ 16.77 384,600 $ 19.40 Granted 152,100 $ 19.28 96,225 $ 24.07 Vested (135,950 ) $ 17.21 (62,150 ) $ 19.81 Forfeited - $ - (700 ) $ 21.15 Non-vested at January 31, 2017 1,274,150 $ 17.02 417,975 $ 20.61 As of January 31, 2017, there was $16.9 million of unamortized restricted stock compensation related to non-vested restricted stock grants awarded under the Plan. The remaining unamortized expense is expected to be recognized over a weighted average period of 5.1 years. For the three month periods ended January 31, 2017 and 2016 amounts charged to compensation expense totaled $944,000 and $1,092,000, respectively. Share Repurchase Program The Board of Directors of the Company has approved a share repurchase program ("Program") for the repurchase of up to 2,000,000 shares, in the aggregate, of Common stock, Class A Common stock and Series F Cumulative Preferred stock in open market transactions. The Company has repurchased 4,600 shares of Common Stock and 913,331 shares of Class A Common Stock under the Program. For the three months ended January 31, 2017 and 2016, the Company did not repurchase any shares of stock under the Program. Preferred Stock The 7.125% Series F Senior Cumulative Preferred Stock ("Series F Preferred Stock") is non-voting, has no stated maturity and is redeemable for cash at $25.00 per share at the Company's option on or after October 24, 2017. The holders of our Series F Preferred Stock have general preference rights with respect to liquidation and quarterly distributions. Except under certain conditions, holders of the Series F Preferred Stock will not be entitled to vote on most matters. In the event of a cumulative arrearage equal to six quarterly dividends, holders of Series F Preferred Stock, together with all of the Company's other series of preferred stock (voting as a single class without regard to series) will have the right to elect two additional members to serve on the Company's Board of Directors until the arrearage has been cured. Upon the occurrence of a Change of Control, as defined in the Company's Articles of Incorporation, the holders of the Series F Preferred Stock will have the right to convert all or part of the shares of Series F Preferred Stock held by such holders on the applicable conversion date into a number of the Company's shares of Class A Common Stock. Underwriting commissions and costs incurred in connection with the sale of the Series F Preferred Stock are reflected as a reduction of additional paid in capital. The 6.75% Series G Senior Cumulative Preferred Stock ("Series G Preferred Stock") is nonvoting, has no stated maturity and is redeemable for cash at $25.00 per share at the Company's option on or after October 28, 2019. The holders of our Series G Preferred Stock have general preference rights with respect to liquidation and quarterly distributions. Except under certain conditions, holders of the Series G Preferred Stock will not be entitled to vote on most matters. In the event of a cumulative arrearage equal to six quarterly dividends, holders of Series G Preferred Stock, together with all of the Company's other Series of preferred stock (voting as a single class without regard to series) will have the right to elect two additional members to serve on the Company's Board of Directors until the arrearage has been cured. Upon the occurrence of a Change of Control, as defined in the Company's Articles of Incorporation, the holders of the Series G Preferred Stock will have the right to convert all or part of the shares of Series G Preferred Stock held by such holders on the applicable conversion date into a number of the Company's shares of Class A common stock.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Jan. 31, 2017
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	(8) FAIR VALUE MEASUREMENTS ASC Topic 820, "Fair Value Measurements and Disclosures" defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. ASC Topic 820's valuation techniques are based on observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These two types of inputs have created the following fair value hierarchy:  Level 1- Quoted prices for identical instruments in active markets  Level 2- Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant value drivers are observable  Level 3- Valuations derived from valuation techniques in which significant value drivers are unobservable The Company calculates the fair value of the redeemable noncontrolling interests based on either quoted market prices on national exchanges for those interests based on the Company's Class A Common stock or unobservable inputs considering the assumptions that market participants would make in pricing the obligations. The inputs used include an estimate of the fair value of the cash flow generated by the limited partnership or limited liability company in which the investor owns the joint venture units capitalized at prevailing market rates for properties with similar characteristics or located in similar areas. The fair values of interest rate swaps are determined using widely accepted valuation techniques, including discounted cash flow analysis, on the expected cash flows of each derivative. The analysis reflects the contractual terms of the swaps, including the period to maturity, and uses observable market-based inputs, including interest rate curves ("significant other observable inputs"). The fair value calculation also includes an amount for risk of non-performance using "significant unobservable inputs" such as estimates of current credit spreads to evaluate the likelihood of default. The Company has concluded, as of October 31, 2016 and January 31, 2017, that the fair value associated with the "significant unobservable inputs" relating to the Company's risk of non-performance was insignificant to the overall fair value of the interest rate swap agreements and, as a result, the Company has determined that the relevant inputs for purposes of calculating the fair value of the interest rate swap agreements, in their entirety, were based upon "significant other observable inputs". The Company measures its redeemable noncontrolling interests and interest rate swap derivatives at fair value on a recurring basis. The fair value of these financial assets and liabilities was determined using the following inputs (amount in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) January 31, 2017 Assets: Interest Rate Swap Agreement $ 2,907 $ - $ $2,907 $ - Liabilities: Redeemable noncontrolling interests $ 18,934 $ 15,126 $ - $ 3,808 October 31, 2016 Liabilities: Interest Rate Swap Agreement $ 1,304 $ - $ 1,304 $ - Redeemable noncontrolling interests $ 18,253 $ 14,407 $ - $ 3,846 Fair market value measurements based upon Level 3 inputs changed (in thousands) from $2,851 at October 31, 2015 to $3,846 at October 31, 2016 as a result of a $995 increase in the redemption value of the Company's noncontrolling interest in Ironbound in accordance with the application of ASC Topic 810. Fair market value measurements based upon Level 3 inputs changed from $3,846 at October 31, 2016 to $3,808 at January 31, 2017 as a result of a $(38) decrease in the redemption value of the Company's noncontrolling interest in Ironbound in accordance with the application of ASC Topic 810. Fair Value of Financial Instruments The carrying values of cash and cash equivalents, restricted cash, mortgage note receivable, tenant receivables, prepaid expenses, other assets, accounts payable and accrued expenses are reasonable estimates of their fair values because of the short-term nature of these instruments. The carrying value of the Facility is deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. Mortgage notes payable that were assumed in property acquisitions were recorded at their fair value at the time they were assumed. The estimated fair value of mortgage notes payable and other loans was approximately $275 million at January 31, 2017 and $287 million at October 31, 2016, respectively. The estimated fair value of mortgage notes payable is based on discounting the future cash flows at a year-end risk adjusted borrowing rate currently available to the Company for issuance of debt with similar terms and remaining maturities. These fair value measurements fall within Level 2 of the fair value hierarchy. Although management is not aware of any factors that would significantly affect the estimated fair value amounts from October 31, 2016, such amounts have not been comprehensively revalued for purposes of these financial statements since that date and current estimates of fair value may differ significantly from the amounts presented herein.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jan. 31, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	(9) COMMITMENTS AND CONTINGENCIES In the normal course of business, from time to time, the Company is involved in legal actions relating to the ownership and operations of its properties. In management's opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company. At January 31, 2017, the Company had commitments of approximately $5.1 million for capital improvements to its properties and tenant-related obligations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jan. 31, 2017
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	(10) SUBSEQUENT EVENTS Investment Property Acquisitions: In February 2017, the Company entered into a contract to acquire an approximate 4.1% equity interest in a newly-formed entity that will own a shopping center and two free-standing single tenant commercial properties, all located in the Company's primary marketplace. All three of these properties will be contributed to the newly-formed entity by the current owners along with mortgage debt secured by two of the properties. The contributors will in exchange receive ownership units in the newly-formed entity having an aggregate value equal to the fair market value of the properties contributed less the value of the assigned mortgages. The three properties in total approximate 99,500 square feet. The Company will be the managing member of the newly-formed entity, and the Company will lease and manage these properties. At contract signing, the aggregate occupancy rate for these properties was approximately 96.4% leased. The Company estimates its equity investment at inception will be approximately $2.4 million. The same February 2017 contract also provides for the Company to purchase, for $3.1 million, a free-standing 12,900 square foot commercial property located in its primary marketplace, which is leased by a Walgreen's Pharmacy. The Company has placed a $2.0 million contract deposit on the above transactions with the contributors/sellers, which deposit is included in prepaid expenses and other assets on the Company's January 31, 2017 consolidated balance sheet. The Company plans on closing on both investments in March 2017 and will fund the equity needed for the acquisition with available cash or borrowings on its Facility. Investment Property Sales: In March 2017, the Company completed the sale of its White Plains property to a subsidiary of Lennar Multifamily Communities for a price of $56.6 million, and the Company will record a gain on sale of properties in our second quarter ended April 30, 2017 in the approximate amount of $19.4 million, exclusive of closing costs. Financing Transactions: On March 2, 2017, the Company repaid $23 million on its Facility with proceeds from the sale of the Company's White Plains property.

ORGANIZATION, BASIS OF PRESEN19

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jan. 31, 2017
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation and Use of Estimates	Principles of Consolidation and Use of Estimates The accompanying consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and joint ventures in which the Company meets certain criteria of a sole general partner in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, "Consolidation" and ASC Topic 970-810 "Real Estate-General-Consolidation". The Company has determined that such joint ventures should be consolidated into the consolidated financial statements of the Company. In accordance with ASC Topic 970-323 "Real Estate-General-Equity Method and Joint Ventures," joint ventures that the Company does not control but otherwise exercises significant influence over, are accounted for under the equity method of accounting. See Note 5 for further discussion of the unconsolidated joint ventures. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the three months ended January 31, 2017 are not necessarily indicative of the results that may be expected for the year ending October 31, 2017. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the fiscal year ended October 31, 2016. The preparation of financial statements requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition, fair value estimates, and the collectability of tenant receivables and other assets and liabilities. Actual results could differ from these estimates. The balance sheet at October 31, 2016 has been derived from audited financial statements at that date.
Federal Income Taxes	Federal Income Taxes The Company has elected to be treated as a REIT under Sections 856-860 of the Internal Revenue Code (Code). Under those sections, a REIT that, among other things, distributes at least 90% of real estate trust taxable income and meets certain other qualifications prescribed by the Code will not be taxed on that portion of its taxable income that is distributed. The Company believes it qualifies as a REIT and intends to distribute all of its taxable income for fiscal 2017 in accordance with the provisions of the Code. Accordingly, no provision has been made for Federal income taxes in the accompanying consolidated financial statements. The Company follows the provisions of ASC Topic 740, "Income Taxes" that, among other things, defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Based on its evaluation, the Company determined that it has no uncertain tax positions and no unrecognized tax benefits as of January 31, 2017. As of January 31, 2017, the fiscal tax years 2013 through and including 2016 remain open to examination by the Internal Revenue Service. There are currently no federal tax examinations in progress.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents with high quality financial institutions and the balances at times could exceed federally insured limits. The Company performs ongoing credit evaluations of its tenants and may require certain tenants to provide security deposits or letters of credit. Though these security deposits and letters of credit are insufficient to meet the terminal value of a tenant's lease obligation, they are a measure of good faith and a source of funds to offset the economic costs associated with lost rent and the costs associated with re-tenanting the space. The Company has no dependency upon any single tenant. Derivative Financial Instruments
Derivative Financial Instruments	The Company occasionally utilizes derivative financial instruments, such as interest rate swaps, to manage its exposure to fluctuations in interest rates. The Company has established policies and procedures for risk assessment, and the approval, reporting and monitoring of derivative financial instruments. Derivative financial instruments must be effective in reducing the Company's interest rate risk exposure in order to qualify for hedge accounting. When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income for each period until the derivative instrument matures or is settled. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market with the changes in value included in net income. The Company has not entered into, and does not plan to enter into, derivative financial instruments for trading or speculative purposes. Additionally, the Company has a policy of entering into derivative contracts only with major financial institutions. As of January 31, 2017, the Company believes it has no significant risk associated with non-performance of the financial institutions that are the counterparties to its derivative contracts. At January 31, 2017, the Company had approximately $34.7 million in secured mortgage financings subject to interest rate swaps. Such interest rate swaps converted the LIBOR-based variable rates on the mortgage financings to an average fixed annual rate of 3.79% per annum. As of January 31, 2017, the Company had a deferred liability of $711,000 (included in accounts payable and accrued expense on the consolidated balance sheets) and a deferred asset of $562,000 (included in prepaid expenses and other assets on the consolidated balance sheets) relating to the fair value of the Company's interest rate swaps applicable to secured mortgages. In addition, in June 2016, the Company entered into a $50 million mortgage loan commitment with a lender to refinance the Company's secured mortgage on its Ridgeway property located in Stamford, CT in July 2017. In conjunction with entering into the mortgage commitment, the Company simultaneously executed with the same lender an interest rate swap contract with a $50 million notional amount that will take effect on July 17, 2017 and will be co-terminus with the new Ridgeway mortgage loan. Such interest rate swap will convert the LIBOR-based variable rate on the new Ridgeway mortgage loan to a fixed annual rate of 3.398%. As of January 31, 2017, the Company had a deferred asset of $3,055,000 (included in prepaid expenses and other assets on the consolidated balance sheets) relating to the fair value of the Company's interest rate swap applicable to the Ridgeway mortgage loan. Charges and/or credits relating to the changes in fair values of such interest rate swaps are made to other comprehensive income/(loss) as the swaps are deemed effective and are classified as a cash flow hedge.
Comprehensive Income	Comprehensive Income Comprehensive income is comprised of net income applicable to Common and Class A Common stockholders and other comprehensive income (loss). Other comprehensive income includes items that are otherwise recorded directly in stockholders' equity, such as unrealized gains and losses on interest rate swaps designated as cash flow hedges. At January 31, 2017, accumulated other comprehensive income/(loss) consisted of net unrealized gains on interest rate swap agreements of $2.9 million. At October 31, 2016, accumulated other comprehensive income/(loss) consisted of net unrealized (losses) on interest rate swap agreements of approximately $(1.3) million. Unrealized gains and losses included in other comprehensive income/(loss) will be reclassified into earnings as gains and losses are realized.
Asset Impairment	Asset Impairment On a periodic basis, management assesses whether there are any indicators that the value of its real estate investments may be impaired. A property value is considered impaired when management's estimate of current and projected operating cash flows (undiscounted and without interest) of the property over its remaining useful life is less than the net carrying value of the property. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. To the extent impairment has occurred, the loss is measured as the excess of the net carrying amount of the property over the fair value of the asset. Changes in estimated future cash flows due to changes in the Company's plans or market and economic conditions could result in recognition of impairment losses which could be substantial. Management does not believe that the value of any of its real estate investments is impaired at January 31, 2017.
Acquisition of Real Estate, Capitalization Policy and Depreciation	Acquisitions of Real Estate Investments, Capitalization Policy and Depreciation Acquisition of Real Estate Investments: In January 2017, the FASB issued an ASU 2017-01 that clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. This update is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted for transactions that have not been reported in previously issued (or available to be issued) financial statements. The Company early adopted this accounting standard effective November 1, 2016. As a result of this adoption, we evaluated one real estate acquisition completed during the first quarter of 2017 under the new framework and determined that the asset acquired did not meet the definition of a business. Accordingly, we accounted for this transaction as an asset acquisition. Refer to Note 2 – "Real Estate Investments" to our consolidated financial statements for a further discussion regarding this acquisition. Evaluation of business combination or asset acquisition: The Company evaluates each acquisition of real estate or in-substance real estate (including equity interests in entities that predominantly hold real estate assets) to determine if the integrated set of assets and activities acquired meet the definition of a business and need to be accounted as a business combination. If either of the following criteria is met, the integrated set of assets and activities acquired would not qualify as a business: • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e. revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce), that is skilled, knowledgeable, and experienced in performing the process; • The process cannot be replaced without significant cost, effort, or delay; or • The process is considered unique or scarce. Generally, we expect that acquisitions of real estate or in-substance real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. For acquisitions of real estate or in-substance real estate, prior to the adoption of ASU 2017-01, which are accounted for as business combinations, we recognize the assets acquired (including the intangible value of acquired above- or below-market leases, acquired in-place leases and other intangible assets or liabilities), liabilities assumed, noncontrolling interests and previously existing ownership interests at fair value as of the acquisition date. Any excess (deficit) of the consideration transferred relative to the fair value of the net assets acquired is accounted for as goodwill. Acquisition costs related to the business combinations are expensed as incurred. Acquisitions of real estate and in-substance real estate which do not meet the definition of a business are accounted for as asset acquisitions. The accounting model for asset acquisitions is similar to the accounting model for business combinations except that the acquisition consideration (including acquisition costs) is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in the recognition of goodwill or a bargain purchase gain. In addition, because the accounting model for asset acquisitions is a cost accumulation model, pre-existing interests in the acquired assets, if any, are not re-measured to fair value but continue to be accounted for at their historical basis. The relative fair values used to allocate the cost of an asset acquisition are determined using the same methodologies and assumptions as we utilize to determine fair value in a business combination. The value of tangible assets acquired is based upon our estimation of value on an "as if vacant" basis. The value of acquired in-place leases includes the estimated costs during the hypothetical lease-up period and other costs that would have been incurred in the execution of similar leases under the market conditions at the acquisition date of the acquired in-place lease. We assess the fair value of tangible and intangible assets based on numerous factors, including estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including the historical operating results, known trends, and market/economic conditions that may affect the property. The values of acquired above- and below-market leases are amortized over the terms of the related leases and recognized as either an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. The values of acquired in-place leases are classified in other assets in the accompanying consolidated balance sheets and amortized over the remaining terms of the related leases. Capitalization Policy: Land, buildings, property improvements, furniture/fixtures and tenant improvements are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred. Renovations and/or replacements, which improve or extend the life of the asset, are capitalized and depreciated over their estimated useful lives. Depreciation: The Company is required to make subjective assessments as to the useful life of its properties for purposes of determining the amount of depreciation. These assessments have a direct impact on the Company's net income. Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Buildings 30-40 years Property Improvements 10-20 years Furniture/Fixtures 3-10 years Tenant Improvements Shorter of lease term or their useful life
Property Held for Sale and Discontinued Operations	Property Held for Sale The Company reports properties that are either disposed of or are classified as held for sale in continuing operations in the consolidated statement of income if the removal, or anticipated removal, of the asset(s) from the reporting entity does not represent a strategic shift that has or will have a major effect on an entity's operations and financial results when disposed of. The Company previously entered into a contract to sell its White Plains property and in April 2016, the Company satisfied the remaining contingency under the sale contract and expects to close on the sale of the property later in fiscal 2017. In accordance with ASC Topic 360-10-45, the asset met all of the criteria to be classified as held for sale beginning in April 2016, but because the net book value of the White Plains asset is insignificant to financial statement presentation, the Company will not include the asset as held for sale on the consolidated balance sheet for all periods presented. The operating results of the White Plains property which is included in continuing operations was as follows (amounts in thousands): Three Months Ended January 31, 2017 2016 Revenues $ - $ 95 Property operating expense (256 ) (328 ) Depreciation and amortization - (286 ) Net Income $ (256 ) $ (519 )
Revenue Recognition	Revenue Recognition Revenues from operating leases include revenues from properties. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. At January 31, 2017 and October 31, 2016, $17,064,000 and $16,829,000, respectively, has been recognized as straight-line rents receivable (representing the current cumulative rents recognized prior to when billed and collectible as provided by the terms of the leases), all of which is included in tenant receivables in the accompanying consolidated financial statements. Percentage rent is recognized when a specific tenant's sales breakpoint is achieved. Property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs are recognized in the period the related expenses are incurred. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms. Lease termination amounts are recognized in operating revenues when there is a signed termination agreement, all of the conditions of the agreement have been met, the tenant is no longer occupying the property and the termination consideration is probable of collection. Lease termination amounts are paid by tenants who want to terminate their lease obligations before the end of the contractual term of the lease by agreement with the Company. There is no way of predicting or forecasting the timing or amounts of future lease termination fees. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses under U.S. GAAP have been met. The Company provides an allowance for doubtful accounts against the portion of tenant receivables (including an allowance for future tenant credit losses of approximately 10% of the deferred straight-line rents receivable) which is estimated to be uncollectible. Such allowances are reviewed periodically. At January 31, 2017 and October 31, 2016, tenant receivables in the accompanying consolidated balance sheets are shown net of allowances for doubtful accounts of $4,152,000 and $4,097,000, respectively. Earnings Per Share
Earnings Per Share	The Company calculates basic and diluted earnings per share in accordance with the provisions of ASC Topic 260, "Earnings Per Share." Basic earnings per share ("EPS") excludes the impact of dilutive shares and is computed by dividing net income applicable to Common and Class A Common stockholders by the weighted average number of Common shares and Class A Common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue Common shares or Class A Common shares were exercised or converted into Common shares or Class A Common shares and then shared in the earnings of the Company. Since the cash dividends declared on the Company's Class A Common stock are higher than the dividends declared on the Common Stock, basic and diluted EPS have been calculated using the "two-class" method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to the weighted average of the dividends declared, outstanding shares per class and participation rights in undistributed earnings. The following table sets forth the reconciliation between basic and diluted EPS (in thousands): Three Months Ended January 31, 2017 2016 Numerator Net income applicable to common stockholders – basic $ 690 $ 628 Effect of dilutive securities: Restricted stock awards 32 28 Net income applicable to common stockholders – diluted $ 722 $ 656 Denominator Denominator for basic EPS – weighted average common shares 8,382 8,240 Effect of dilutive securities: Restricted stock awards 533 496 Denominator for diluted EPS – weighted average common equivalent shares 8,915 8,736 Numerator Net income applicable to Class A common stockholders-basic $ 2,722 $ 2,249 Effect of dilutive securities: Restricted stock awards (32 ) (28 ) Net income applicable to Class A common stockholders – diluted $ 2,690 $ 2,221 Denominator Denominator for basic EPS – weighted average Class A common shares 29,311 26,080 Effect of dilutive securities: Restricted stock awards 128 94 Denominator for diluted EPS – weighted average Class A common equivalent shares 29,439 26,174
Segment Reporting	Segment Reporting The Company's primary business is the ownership, management, and redevelopment of retail properties. The Company reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. The Company evaluates financial performance using property operating income, which consists of base rental income and tenant reimbursement income, less rental expenses and real estate taxes. Only one of the Company's properties, located in Stamford, CT ("Ridgeway"), is considered significant as its revenue is in excess of 10% of the Company's consolidated total revenues and accordingly is a reportable segment. The Company has aggregated the remainder of its properties as they share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies, are typically located in the same major metropolitan area, and have similar tenant mixes. Ridgeway is located in Stamford, Connecticut and was developed in the 1950's and redeveloped in the mid 1990's. The property contains approximately 374,000 square feet of GLA. It is the dominant grocery-anchored center and the largest non-mall shopping center located in the City of Stamford, Fairfield County, Connecticut. Segment information about Ridgeway as required by ASC Topic 280 is included below: Three Months Ended January 31, 2017 2016 Ridgeway Revenues 11.9 % 11.6 % All Other Property Revenues 88.1 % 88.4 % Consolidated Revenue 100.0 % 100.0 % January 31, 2017 October 31, 2016 Ridgeway Assets 7.7 % 7.6 % All Other Property Assets 92.3 % 92.4 % Consolidated Assets (Note 1) 100.0 % 100.0 % Note 1 - Ridgeway did not have any significant expenditures for additions to long lived assets in the three months ended January 31, 2017 or the year ended October 31, 2016. January 31, 2017 October 31, 2016 Ridgeway Percent Leased 97 % 98 % Three Months Ended January 31, 2017 2016 The Stop & Shop Supermarket Company 19 % 19 % Bed, Bath & Beyond 14 % 14 % Marshall's Inc., a division of the TJX Companies 11 % 11 % All Other Tenants at Ridgeway (Note 2) 56 % 56 % Total 100 % 100 % Note 2 - No other tenant accounts for more than 10% of Ridgeway's annual base rents in any of the periods presented. Percentages are calculated as a ratio of the tenants' base rent divided by total base rent of Ridgeway. Income Statement (In Thousands): Three Months Ended January 31, 2017 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,465 $ 25,605 $ 29,070 Operating Expenses $ 1,086 $ 8,910 $ 9,996 Interest Expense $ 612 $ 2,645 $ 3,257 Depreciation and Amortization $ 1,111 $ 5,470 $ 6,581 Income from Continuing Operations $ 656 $ 6,326 $ 6,982 Income Statement (In Thousands): Three Months Ended January 31, 2016 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,154 $ 24,297 $ 27,451 Operating Expenses $ 891 $ 8,499 $ 9,390 Interest Expense $ 627 $ 2,644 $ 3,271 Depreciation and Amortization $ 588 $ 5,100 $ 5,688 Income from Continuing Operations $ 1,048 $ 5,399 $ 6,447
Stock-Based Compensation	Stock-Based Compensation The Company accounts for its stock-based compensation plans under the provisions of ASC Topic 718, "Stock Compensation", which requires that compensation expense be recognized, based on the fair value of the stock awards less estimated forfeitures. The fair value of stock awards is equal to the fair value of the Company's stock on the grant date.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period's presentation.
New Accounting Standards	New Accounting Standards In May 2014, the FASB issued Accounting Standards Update ("ASU") ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying ASU 2014-09, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB's ASC. ASU 2014-09 is effective for annual reporting periods (including interim periods within that reporting period) beginning after December 15, 2016 and shall be applied using either a full retrospective or modified retrospective approach. Early application is not permitted. In August 2015, FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all public companies for all annual periods beginning after December 15, 2017 with early adoption permitted only as of annual reporting periods beginning after December 31, 2016, including interim periods within the reporting period. In March 2016, the FASB issued ASU 2016-08 as an amendment to ASU 2014-09, the amendment clarifies how to identify the unit of accounting for the principal versus agent evaluation, how to apply the control principle to certain types of arrangements, such as service transaction, and reframed the indicators in the guidance to focus on evidence that an entity is acting as a principal rather than as an agent. The Company is currently assessing the potential impact that the adoption of ASU 2014-09 and ASU 2016-08 will have on its consolidated financial statements. While we are still completing the assessment of the impact of our consolidated financial statements, we believe the majority of our revenue falls outside of the scope of this guidance. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 significantly changes the accounting for leases by requiring lessees to recognize assets and liabilities for leases greater than 12 months on their balance sheet. The lessor model stays substantially the same; however, there were modifications to conform lessor accounting with the lessee model, eliminate real estate specific guidance, further define certain lease and non-lease components, and change the definition of initial direct costs of leases requiring significantly more leasing related costs to be expensed upfront. ASU 2016-02 is effective for the Company in the first quarter of fiscal 2020, and we are currently assessing the impact this standard will have on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15 that provides guidance, amongst other things, on classification of cash distributions received from equity method investments, including unconsolidated joint ventures. The ASU provides two approaches to determine the classification of cash distributions received: (i) the "cumulative earnings" approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities, and (ii) the "nature of the distribution" approach, under which distributions will be classified based on the nature of the underlying activity that generated cash distributions. Companies will elect either the "cumulative earnings" or the "nature of the distribution" approach. Entities that elect the "nature of the distribution" approach but lack the information to apply it will apply the cumulative earnings approach as an accounting change on a retrospective basis. ASU 2016-15 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively (exceptions apply). We are currently assessing the effect that ASU 2016-15 will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01 that clarified the definition of a business. The ASU 2017-01 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted. We adopted ASU 2017-01 on November 1, 2016. Refer to "Acquisitions of Real Estate Investments, Capitalization Policy and Depreciation" above for a discussion of this new accounting pronouncement. The Company has evaluated all other new ASU's issued by FASB, and has concluded that these updates do not have a material effect on the Company's consolidated financial statements as of January 31, 2017.

ORGANIZATION, BASIS OF PRESEN20

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Jan. 31, 2017
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Property Held for Sale	The operating results of the White Plains property which is included in continuing operations was as follows (amounts in thousands): Three Months Ended January 31, 2017 2016 Revenues $ - $ 95 Property operating expense (256 ) (328 ) Depreciation and amortization - (286 ) Net Income $ (256 ) $ (519 )
Property, Plant and Equipment, Estimated Useful Lives	Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows: Buildings 30-40 years Property Improvements 10-20 years Furniture/Fixtures 3-10 years Tenant Improvements Shorter of lease term or their useful life
Reconciliation between Basic and Diluted EPS	The following table sets forth the reconciliation between basic and diluted EPS (in thousands): Three Months Ended January 31, 2017 2016 Numerator Net income applicable to common stockholders – basic $ 690 $ 628 Effect of dilutive securities: Restricted stock awards 32 28 Net income applicable to common stockholders – diluted $ 722 $ 656 Denominator Denominator for basic EPS – weighted average common shares 8,382 8,240 Effect of dilutive securities: Restricted stock awards 533 496 Denominator for diluted EPS – weighted average common equivalent shares 8,915 8,736 Numerator Net income applicable to Class A common stockholders-basic $ 2,722 $ 2,249 Effect of dilutive securities: Restricted stock awards (32 ) (28 ) Net income applicable to Class A common stockholders – diluted $ 2,690 $ 2,221 Denominator Denominator for basic EPS – weighted average Class A common shares 29,311 26,080 Effect of dilutive securities: Restricted stock awards 128 94 Denominator for diluted EPS – weighted average Class A common equivalent shares 29,439 26,174
Major Customers by Reporting Segments	Three Months Ended January 31, 2017 2016 Ridgeway Revenues 11.9 % 11.6 % All Other Property Revenues 88.1 % 88.4 % Consolidated Revenue 100.0 % 100.0 % January 31, 2017 October 31, 2016 Ridgeway Assets 7.7 % 7.6 % All Other Property Assets 92.3 % 92.4 % Consolidated Assets (Note 1) 100.0 % 100.0 % Note 1 - Ridgeway did not have any significant expenditures for additions to long lived assets in the three months ended January 31, 2017 or the year ended October 31, 2016. January 31, 2017 October 31, 2016 Ridgeway Percent Leased 97 % 98 % Three Months Ended January 31, 2017 2016 The Stop & Shop Supermarket Company 19 % 19 % Bed, Bath & Beyond 14 % 14 % Marshall's Inc., a division of the TJX Companies 11 % 11 % All Other Tenants at Ridgeway (Note 2) 56 % 56 % Total 100 % 100 % Note 2 - No other tenant accounts for more than 10% of Ridgeway's annual base rents in any of the periods presented. Percentages are calculated as a ratio of the tenants' base rent divided by total base rent of Ridgeway.
Segment Reporting Information by Segment	Income Statement (In Thousands): Three Months Ended January 31, 2017 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,465 $ 25,605 $ 29,070 Operating Expenses $ 1,086 $ 8,910 $ 9,996 Interest Expense $ 612 $ 2,645 $ 3,257 Depreciation and Amortization $ 1,111 $ 5,470 $ 6,581 Income from Continuing Operations $ 656 $ 6,326 $ 6,982 Income Statement (In Thousands): Three Months Ended January 31, 2016 Ridgeway All Other Operating Segments Total Consolidated Revenues $ 3,154 $ 24,297 $ 27,451 Operating Expenses $ 891 $ 8,499 $ 9,390 Interest Expense $ 627 $ 2,644 $ 3,271 Depreciation and Amortization $ 588 $ 5,100 $ 5,688 Income from Continuing Operations $ 1,048 $ 5,399 $ 6,447

CONSOLIDATED JOINT VENTURES A21

CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)	3 Months Ended
	Jan. 31, 2017
CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS [Abstract]
Redeemable Non-controlling Interests	The following table sets forth the details of the Company's redeemable non-controlling interests at January 31, 2017 and October 31, 2016 (amounts in thousands): January 31, 2017 October 31, 2016 Beginning Balance $ 18,253 $ 15,955 Change in Redemption Value 681 2,298 Ending Balance $ 18,934 $ 18,253

INVESTMENTS IN AND ADVANCES T22

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES (Tables)	3 Months Ended
	Jan. 31, 2017
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES [Abstract]
Investments in and Advances to Unconsolidated Joint Ventures	At January 31, 2017 and October 31, 2016 investments in and advances to unconsolidated joint ventures consisted of the following (with the Company's ownership percentage in parentheses) (amounts in thousands): January 31, 2017 October 31, 2016 Chestnut Ridge and Plaza 59 Shopping Centers (50%) $ 18,114 $ 18,200 Gateway Plaza (50%) 7,056 7,160 Putnam Plaza Shopping Center (66.67%) 5,962 5,970 Midway Shopping Center, L.P. (11.642%) 4,748 4,856 Applebee's at Riverhead (50%) 1,708 1,560 81 Pondfield Road Company (20%) 723 723 Total $ 38,311 $ 38,469

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Jan. 31, 2017
STOCKHOLDERS' EQUITY [Abstract]
Non-vested Common and Class A Common Shares	A summary of the status of the Company's non-vested Common and Class A Common shares as of January 31, 2017, and changes during the three months ended January 31, 2017 is presented below: Common Shares Class A Common Shares Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Non-vested at October 31, 2016 1,258,000 $ 16.77 384,600 $ 19.40 Granted 152,100 $ 19.28 96,225 $ 24.07 Vested (135,950 ) $ 17.21 (62,150 ) $ 19.81 Forfeited - $ - (700 ) $ 21.15 Non-vested at January 31, 2017 1,274,150 $ 17.02 417,975 $ 20.61

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jan. 31, 2017
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value of Financial Assets and Liabilities	The Company measures its redeemable noncontrolling interests and interest rate swap derivatives at fair value on a recurring basis. The fair value of these financial assets and liabilities was determined using the following inputs (amount in thousands): Fair Value Measurements at Reporting Date Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) January 31, 2017 Assets: Interest Rate Swap Agreement $ 2,907 $ - $ $2,907 $ - Liabilities: Redeemable noncontrolling interests $ 18,934 $ 15,126 $ - $ 3,808 October 31, 2016 Liabilities: Interest Rate Swap Agreement $ 1,304 $ - $ 1,304 $ - Redeemable noncontrolling interests $ 18,253 $ 14,407 $ - $ 3,846

ORGANIZATION, BASIS OF PRESEN25

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) shares in Thousands, ft² in Millions	3 Months Ended
	Jan. 31, 2017USD ($)ft²Propertyshares	Jan. 31, 2016USD ($)shares	Oct. 31, 2016USD ($)	Jun. 30, 2016USD ($)
ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Number of properties the Company owned or had equity interest in | Property	76
Gross leasable area of properties the Company owned or had equity interest in | ft²	5
Minimum real estate trust taxable income required to be distributed for REIT to be nontaxable	90.00%
Comprehensive income [Abstract]
Net unrealized gains/losses on an interest rate swap agreement included in accumulated other comprehensive income	$ 2,900,000		$ (1,300,000)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	29,070,000	$ 27,451,000
Depreciation and amortization	(6,581,000)	(5,688,000)
Net Income	7,204,000	6,672,000
Straight-line rents receivable	$ 17,064,000		16,829,000
Allowance of doubtful accounts against tenants receivables, percentage of deferred straight-line rents receivable	10.00%
Tenants receivable, allowance for doubtful accounts	$ 4,152,000		$ 4,097,000
Numerator [Abstract]
Net income applicable to common and Class A common stockholders - basic	$ 3,412,000	2,877,000
Mortgage Loan [Member] | New Ridgeway Mortgage Loan [Member]
Derivative Financial Instruments [Abstract]
Forward loan commitment, face amount				$ 50,000,000
Minimum [Member]
Income Tax Contingency [Line Items]
Tax years remaining open to examination by Internal Revenue Service	2,013
Maximum [Member]
Income Tax Contingency [Line Items]
Tax years remaining open to examination by Internal Revenue Service	2,016
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Property Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Property Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Furniture/Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture/Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Tenant Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	Shorter of lease term or their useful life
Interest Rate Swap [Member]
Derivative Financial Instruments [Abstract]
Notional amount				$ 50,000,000
Fixed annual rate				3.398%
Interest Rate Swap [Member] | Mortgage Loan [Member]
Derivative Financial Instruments [Abstract]
Mortgage loans subject to interest rate swap	$ 34,700,000
Average fixed annual rate on interest rate swap	3.79%
Interest Rate Derivative Assets, at Fair Value	$ 562,000
Deferred liabilities relating to fair value of interest rate swap	711,000
Interest Rate Swap [Member] | Mortgage Loan [Member] | New Ridgeway Mortgage Loan [Member]
Derivative Financial Instruments [Abstract]
Interest Rate Derivative Assets, at Fair Value	3,055,000
Common Stock [Member]
Numerator [Abstract]
Net income applicable to common and Class A common stockholders - basic	690,000	628,000
Effect of dilutive securities [Abstract]
Restricted Stock awards	32,000	28,000
Net income applicable to common stockholders - diluted	$ 722,000	$ 656,000
Denominator [Abstract]
Denominator for basic EPS - weighted average common shares (in shares) | shares	8,382	8,240
Effect of dilutive securities [Abstract]
Restricted stock awards (in shares) | shares	533	496
Denominator for diluted EPS - weighted average common equivalent shares (in shares) | shares	8,915	8,736
Class A Common Stock [Member]
Numerator [Abstract]
Net income applicable to common and Class A common stockholders - basic	$ 2,722,000	$ 2,249,000
Effect of dilutive securities [Abstract]
Restricted Stock awards	(32,000)	(28,000)
Net income applicable to common stockholders - diluted	$ 2,690,000	$ 2,221,000
Denominator [Abstract]
Denominator for basic EPS - weighted average common shares (in shares) | shares	29,311	26,080
Effect of dilutive securities [Abstract]
Restricted stock awards (in shares) | shares	128	94
Denominator for diluted EPS - weighted average common equivalent shares (in shares) | shares	29,439	26,174
Accounting Standards Update 2014-08 [Member] | White Plains, NY [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 0	$ 95,000
Property operating expense	(256,000)	(328,000)
Depreciation and amortization	0	(286,000)
Net Income	$ (256,000)	$ (519,000)

ORGANIZATION, BASIS OF PRESEN26

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Segment Reporting (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 31, 2017USD ($)ft²Segment	Jan. 31, 2016USD ($)	Oct. 31, 2016
Segment Reporting [Abstract]
Number of reportable segments | Segment	1
Revenue, Major Customer [Line Items]
Gross leasable area of properties the Company owned or had equity interest in | ft²	5,000,000
Segment Reporting Information [Line Items]
Revenues	$ 29,070	$ 27,451
Operating expenses	9,996	9,390
Interest expense	3,257	3,271
Depreciation and amortization	6,581	5,688
Income from continuing operations	$ 6,982	6,447
Ridgeway [Member]
Revenue, Major Customer [Line Items]
Gross leasable area of properties the Company owned or had equity interest in | ft²	374,000
Percent leased	97.00%		98.00%
Segment Reporting Information [Line Items]
Revenues	$ 3,465	3,154
Operating expenses	1,086	891
Interest expense	612	627
Depreciation and amortization	1,111	588
Income from continuing operations	656	1,048
All Other Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	25,605	24,297
Operating expenses	8,910	8,499
Interest expense	2,645	2,644
Depreciation and amortization	5,470	5,100
Income from continuing operations	$ 6,326	$ 5,399
Sales Revenue, Services, Net [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Sales Revenue, Services, Net [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	11.90%	11.60%
Sales Revenue, Services, Net [Member] | All Other Operating Segments [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	88.10%	88.40%
Assets, Total [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%		100.00%
Assets, Total [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	7.70%		7.60%
Assets, Total [Member] | All Other Operating Segments [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	92.30%		92.40%
Base Rent [Member] | Customer Concentration Risk [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Base Rent [Member] | Customer Concentration Risk [Member] | The Stop & Shop Supermarket Company [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	19.00%	19.00%
Base Rent [Member] | Customer Concentration Risk [Member] | Bed, Bath & Beyond [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	14.00%	14.00%
Base Rent [Member] | Customer Concentration Risk [Member] | Marshall's Inc., a Division of the TJX Companies [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	11.00%	11.00%
Base Rent [Member] | Customer Concentration Risk [Member] | All Other Tenants at Ridgeway [Member] | Ridgeway [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	56.00%	56.00%

REAL ESTATE INVESTMENTS (Detail

REAL ESTATE INVESTMENTS (Details)	3 Months Ended		12 Months Ended
	Jan. 31, 2017USD ($)ft²	Jan. 31, 2016USD ($)	Oct. 31, 2016USD ($)Property
Business Acquisition [Line Items]
Number of properties accounted for as business combination | Property			2
Estimated fair value of first mortgage secured by property	$ 275,000,000		$ 287,000,000
Amortization of above-market and below-market leases	15,000	$ 89,000
Derby Property [Member]
Business Acquisition [Line Items]
Purchase price of property acquired	$ 9,000,000
Area of real estate property acquired | ft²	38,800
Acquisition 8 [Member]
Business Acquisition [Line Items]
Acquisition contract amount	$ 7,100,000
Area of real estate property acquired | ft²	36,500
Estimated fair value of first mortgage secured by property	$ 3,300,000

MORTGAGE NOTE RECEIVABLE (Detai

MORTGAGE NOTE RECEIVABLE (Details) - Mortgage Note Receivable [Member] - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2016	Jan. 31, 2017
Mortgage Note Receivable [Abstract]
Originated loan	$ 13.5
Maturity date	Oct. 10, 2017
LIBOR [Member]
Mortgage Note Receivable [Abstract]
Term of variable rate	1 month
Interest rate margin		3.25%

MORTGAGE NOTES PAYABLE, BANK 29

MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS (Details) $ in Thousands	3 Months Ended
	Jan. 31, 2017USD ($)Bank	Jan. 31, 2016USD ($)	Jun. 30, 2016USD ($)
Line of Credit Facility [Line Items]
Repayments of borrowings on facility	$ 0	$ 3,000
Mortgage Loan [Member] | New Ridgeway Mortgage Loan [Member]
Line of Credit Facility [Line Items]
Forward loan commitment, face amount			$ 50,000
Interest Rate Swap [Member]
Line of Credit Facility [Line Items]
Fixed annual rate			3.398%
BNY, Wells Fargo, Bank of Montreal and Regions Bank [Member]
Line of Credit Facility [Line Items]
Borrowing under revolving credit facility	$ 15,000
BNY, Wells Fargo, Bank of Montreal and Regions Bank [Member] | Unsecured Revolving Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maturity date	Aug. 23, 2020
Covenant compliance	The Company was in compliance with such covenants at January 31, 2017
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000
Number of syndicated banks | Bank	3
Option, maximum borrowing capacity	$ 150,000
Extension period	1 year
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fee	0.15%
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fee	0.25%
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | Eurodollar [Member]
Line of Credit Facility [Line Items]
Benchmark interest rate	Eurodollar rate
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.35%
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.95%
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | The Bank of New York Mellon's Prime Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.35%
BNY, Wells Fargo and Bank of Montreal [Member] | Unsecured Revolving Credit Agreement [Member] | The Bank of New York Mellon's Prime Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.95%
BNY, Wells Fargo and Bank of Montreal [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000

CONSOLIDATED JOINT VENTURES A30

CONSOLIDATED JOINT VENTURES AND REDEEMABLE NONCONTROLLING INTERESTS (Details)	3 Months Ended		12 Months Ended
	Jan. 31, 2017USD ($)Investmentshares	Jan. 31, 2016USD ($)	Oct. 31, 2016USD ($)	Mar. 28, 2012
Business Acquisition [Line Items]
Number of real estate joint venture investments | Investment	3
Redeemable non-controlling interests [Roll Forward]
Beginning Balance	$ 18,253,000	$ 15,955,000	$ 15,955,000
Change in Redemption Value	681,000	$ 926,000	2,298,000
Ending Balance	$ 18,934,000		$ 18,253,000
UB Ironbound, LP ("Ironbound") [Member]
Business Acquisition [Line Items]
Ownership interest	84.00%
UB Orangeburg, LLC [Member]
Business Acquisition [Line Items]
Ownership interest	33.50%			2.92%
Additional investment in consolidated joint venture	$ 4,100,000
UB Orangeburg, LLC [Member] | Class A Common Stock [Member]
Business Acquisition [Line Items]
Number of shares of common stock included in calculation of regular quarterly cash distribution equivalent to annual cash distribution to non-managing member of subsidiary (in shares) | shares	1
McLean Plaza Associates, LLC [Member]
Business Acquisition [Line Items]
Ownership interest	53.00%
Fixed annual distribution	5.05%

INVESTMENTS IN AND ADVANCES T31

INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES (Details) $ in Thousands	3 Months Ended
	Jan. 31, 2017USD ($)ft²Subsidiary	Oct. 31, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 38,311	$ 38,469
Chestnut Ridge and Plaza 59 Shopping Centers [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 18,114	$ 18,200
Number of wholly-owned subsidiaries involved in acquisition of properties | Subsidiary	2
Ownership interest	50.00%	50.00%
Gateway Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 7,056	$ 7,160
Ownership interest	50.00%	50.00%
Area of property | ft²	198,500
In-line space | ft²	27,000
Area of pad site recently constructed | ft²	3,500
Gateway Plaza [Member] | Non-recourse First Mortgage Payable [Member]
Schedule of Equity Method Investments [Line Items]
Fixed interest rate	4.20%
Maturity date	Mar. 31, 2024
Debt instrument, face amount	$ 13,000
Walmart in Gateway Plaza Shopping Center [Member]
Schedule of Equity Method Investments [Line Items]
Area of property | ft²	168,000
Putnam Plaza Shopping Center [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 5,962	$ 5,970
Ownership interest	66.67%	66.67%
Area of property | ft²	189,000
Putnam Plaza Shopping Center [Member] | Non-recourse First Mortgage Payable [Member]
Schedule of Equity Method Investments [Line Items]
Fixed interest rate	4.17%
Maturity date	Dec. 31, 2019
Debt instrument, face amount	$ 19,400
Midway Shopping Center, L.P. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 4,748	$ 4,856
Ownership interest	11.642%	11.642%
Area of property | ft²	247,000
Percentage of voting interests acquired	25.00%
Excess of carrying amount over underlying equity allocated to real property	$ 7,400
Estimated useful life of property	39 years
Midway Shopping Center, L.P. [Member] | Non-recourse First Mortgage Payable [Member]
Schedule of Equity Method Investments [Line Items]
Fixed interest rate	4.80%
Maturity date	Dec. 31, 2027
Debt instrument, face amount	$ 29,100
Applebee's at Riverhead [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 1,708	$ 1,560
Ownership interest	50.00%	50.00%
Area of property | ft²	5,400
Area of newly build and fully leased pad site | ft²	7,200
81 Pondfield Road Company [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated joint ventures	$ 723	$ 723
Ownership interest	20.00%	20.00%
Gateway Plaza and Applebee's at Riverhead [Member]
Schedule of Equity Method Investments [Line Items]
Number of wholly-owned subsidiaries involved in acquisition of properties | Subsidiary	2
Ownership interest	50.00%
Chestnut Ridge [Member]
Schedule of Equity Method Investments [Line Items]
Area of property | ft²	76,000
Plaza 59 Shopping Centers [Member]
Schedule of Equity Method Investments [Line Items]
Area of property | ft²	24,000

STOCKHOLDERS' EQUITY, Authorize

STOCKHOLDERS' EQUITY, Authorized Stock and Restricted Stock Plan (Details) - USD ($)	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Oct. 31, 2016
Authorized Stock [Abstract]
Shares authorized (in shares)	200,000,000
Excess stock, shares authorized (in shares)	20,000,000		20,000,000
Preferred Stock, shares authorized (in shares)	50,000,000
Common Stock [Member]
Authorized Stock [Abstract]
Common stock, shares authorized (in shares)	30,000,000		30,000,000
Class A Common Stock [Member]
Authorized Stock [Abstract]
Common stock, shares authorized (in shares)	100,000,000		100,000,000
Restricted Stock [Member]
Non-vested shares, weighted-average grant-date fair value [Roll forward]
Unamortized restricted stock compensation	$ 16,900,000
Weighted average period for recognizing unamortized expense	5 years 1 month 6 days
Total amounts charged to compensation expense	$ 944,000	$ 1,092,000
Restricted Stock [Member] | Common Stock [Member]
Restricted Stock Plan [Abstract]
Number of shares awarded (in shares)	152,100
Non-vest shares, number of shares [Roll forward]
Non-vested at October 31, 2016	1,258,000
Granted (in shares)	152,100
Vested (in shares)	(135,950)
Forfeited (in shares)	0
Non-vested at January 31, 2017	1,274,150
Non-vested shares, weighted-average grant-date fair value [Roll forward]
Non-vested, beginning of period (in dollars per share)	$ 16.77
Granted (in dollars per share)	19.28
Vested (in dollars per share)	17.21
Forfeited (in dollars per share)	0
Non-vested, end of period (in dollars per share)	$ 17.02
Restricted Stock [Member] | Class A Common Stock [Member]
Restricted Stock Plan [Abstract]
Number of shares awarded (in shares)	96,225
Non-vest shares, number of shares [Roll forward]
Non-vested at October 31, 2016	384,600
Granted (in shares)	96,225
Vested (in shares)	(62,150)
Forfeited (in shares)	(700)
Non-vested at January 31, 2017	417,975
Non-vested shares, weighted-average grant-date fair value [Roll forward]
Non-vested, beginning of period (in dollars per share)	$ 19.40
Granted (in dollars per share)	24.07
Vested (in dollars per share)	19.81
Forfeited (in dollars per share)	21.15
Non-vested, end of period (in dollars per share)	$ 20.61
Restricted Stock Plan [Member] | Common Stock [Member]
Restricted Stock Plan [Abstract]
Number of shares authorized (in shares)	350,000
Restricted Stock Plan [Member] | Class A Common Stock [Member]
Restricted Stock Plan [Abstract]
Number of shares authorized (in shares)	350,000
Restricted Stock Plan [Member] | Class A Common Shares or Common Shares [Member]
Restricted Stock Plan [Abstract]
Number of shares authorized (in shares)	3,800,000
Restricted Stock Plan [Member] | Restricted Stock [Member] | Class A Common Shares or Common Shares [Member]
Restricted Stock Plan [Abstract]
Number of shares authorized (in shares)	4,500,000
Grant date fair value	$ 5,200,000

STOCKHOLDERS' EQUITY, Share Rep

STOCKHOLDERS' EQUITY, Share Repurchase Program, Preferred Stock and Common Stock (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 31, 2017USD ($)QuarterDirector$ / sharesshares	Jan. 31, 2016USD ($)	Oct. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Proceeds received from sale of Class A Common Stock | $	$ 49	$ 57
Current Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to be repurchased (in shares)	2,000,000
Common Stock [Member] | Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	4,600
Class A Common Stock [Member] | Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	913,331
Series F Senior Redeemable Preferred Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Preferred stock, redemption price per share (in dollars per share) | $ / shares	$ 25
Number of quarters with cumulative arrearage of quarterly dividends to trigger the election of additional board members by holders of preferred stock | Quarter	6
Number of directors redeemable preferred stockholders are entitled to elect | Director	2
Preferred stock, dividend rate	7.125%		7.125%
Preferred stock, redemption date	Oct. 24, 2017
Series G Senior Redeemable Preferred Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Preferred stock, redemption price per share (in dollars per share) | $ / shares	$ 25
Number of quarters with cumulative arrearage of quarterly dividends to trigger the election of additional board members by holders of preferred stock | Quarter	6
Number of directors redeemable preferred stockholders are entitled to elect | Director	2
Preferred stock, dividend rate	6.75%		6.75%
Preferred stock, redemption date	Oct. 28, 2019

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Oct. 31, 2016	Oct. 31, 2015
Redeemable Noncontrolling Interest [Line Items]
Increase (decrease) in redemption value of noncontrolling interest	$ 681,000	$ 926,000	$ 2,298,000
Estimated fair value of mortgage notes payable and other loans	275,000,000		287,000,000
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Interest Rate Swap Agreement	2,907,000
Liabilities [Abstract]
Interest Rate Swap Agreement			1,304,000
Redeemable noncontrolling interests	18,934,000		18,253,000
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Interest Rate Swap Agreement	0
Liabilities [Abstract]
Interest Rate Swap Agreement			0
Redeemable noncontrolling interests	15,126,000		14,407,000
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Interest Rate Swap Agreement	2,907,000
Liabilities [Abstract]
Interest Rate Swap Agreement			1,304,000
Redeemable noncontrolling interests	0		0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Interest Rate Swap Agreement	0
Liabilities [Abstract]
Interest Rate Swap Agreement			0
Redeemable noncontrolling interests	3,808,000		3,846,000	$ 2,851,000
UB Ironbound, LP ("Ironbound") [Member]
Redeemable Noncontrolling Interest [Line Items]
Increase (decrease) in redemption value of noncontrolling interest	$ (38,000)		$ 995,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended
	Jan. 31, 2017USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Commitments for capital improvements to properties and tenant related obligations	$ 5.1

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	Mar. 10, 2017USD ($)	Mar. 02, 2017USD ($)	Feb. 28, 2017USD ($)ft²Property	Jan. 31, 2017USD ($)	Jan. 31, 2016USD ($)
Subsequent Event [Line Items]
Repayments of borrowings on facility				$ 0	$ 3,000
Subsequent Event [Member] | Unsecured Revolving Credit Agreement [Member]
Subsequent Event [Line Items]
Repayments of borrowings on facility		$ 23,000
Subsequent Event [Member] | Acquisition of Shopping Center and 2 Commercial Properties [Member]
Subsequent Event [Line Items]
Percentage ownership interest consolidated Joint Venture			0.041
Cash equity investment in entity under contract to purchase			$ 2,400
Number of properties used as security for mortgage debt | Property			2
Number of properties to be contributed to newly-formed entity | Property			3
Percent Leased			96.40%
Area of Real Estate Property | ft²			99,500
Earnest Money Deposits, Third Party			$ 2,000
Subsequent Event [Member] | Acquisition of Commercial Property [Member]
Subsequent Event [Line Items]
Acquisition contract amount			$ 3,100
Area of Real Estate Property | ft²			12,900
Subsequent Event [Member] | White Plains Property [Member]
Subsequent Event [Line Items]
Gain on sale of properties	$ 19,400
Proceeds from Sale of Real Estate	$ 56,600
Subsequent Event [Member] | Single Tenant Commercial Property [Member] | Acquisition of Shopping Center and 2 Commercial Properties [Member]
Subsequent Event [Line Items]
Number of properties to be contributed to newly-formed entity | Property			2