Company: NEN
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001558370-25-003015
Chunk: 32

Company: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
Filing Date: 2025-03-14
Form: 10-K
Item: Item 5
Chunk 32
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ITEM 5.  MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 

Each Class A Unit is exchangeable, through Computershare Trust Company (“Computershare”) (formerly Equiserve LP), the Partnership’s Depositary Agent, for 30 Depositary Receipts (“Receipts”). The Receipts are listed and publicly traded on the NYSE MKT Exchange under the symbol “NEN.” There has never been an established trading market for the Class B Units or General Partnership Units.

Effective January 3, 2012, the Partnership authorized a 3-for-1 forward split of its Depositary Receipts listed on the NYSE MKT and a concurrent adjustment of the exchange ratio of Depositary Receipts for Class A Units of the Partnership from 10-to-1 to 30-to-1, such that each Depositary Receipt represents one-thirtieth (1/30) of a Class A Unit of the Partnership.

All references to Depositary Receipts in the report are reflective of the 3-for-1 forward split.

Distribution to Limited & General Partners were: 

​​​​​​​​​    2024    2023 Class A—Limited Partners (80%)​$ 8,995,647​$ 7,963,910​Class B—Limited Partners (19%)​  2,136,466​  1,891,429​Class C—General Partner (1%)​  112,446​  99,549​Total​$ 11,244,559​$ 9,954,888​

On March 12, 2025, the closing price on the NYSE American for a Depositary Receipt was $73.85. There were 2,757,936 Depositary Receipts outstanding, and 1,407 Units (representing 42,210 receipts) held by 109 registered record holders.