MARKETABLE SECURITIES	3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 4 – MARKETABLE SECURITIES The Company’s marketable securities consist primarily of marketable common and preferred stock of other REITs with a fair value of $108.2 million as of March 31, 2021, which represents 7.7% of undepreciated assets. The Company generally limits its investment in marketable securities to no more than approximately 15% of its undepreciated assets. The REIT securities portfolio provides the Company with additional liquidity and additional income and serves as a proxy for real estate when more favorable risk adjusted returns are not available. During the three months ended March 31, 2021, the Company sold securities with a cost basis of $5.2 million and recognized a loss on sales of $730,000. As of March 31, 2021, the Company owned a total of 2.7 million Monmouth Real Estate Investment Corporation (“MREIC”), a related REIT, common shares at a total cost of $25.0 million and a fair value of $47.0 million. As of March 31, 2021, the Company had total net unrealized losses of $29.1 million in its REIT securities portfolio. For the three months ended March 31, 2021, the Company recorded a $10.2 million increase in the fair value of these marketable securities. The Company held thirteen securities that had unrealized losses as of March 31, 2021. The Company normally holds REIT securities long-term and has the ability and intent to hold these securities to recovery.

MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

NOTE 4 – MARKETABLE SECURITIES

The Company’s marketable securities consist primarily of marketable common and preferred stock of other REITs with a fair value of $108.2 million as of March 31, 2021, which represents 7.7% of undepreciated assets. The Company generally limits its investment in marketable securities to no more than approximately 15% of its undepreciated assets. The REIT securities portfolio provides the Company with additional liquidity and additional income and serves as a proxy for real estate when more favorable risk adjusted returns are not available.

During the three months ended March 31, 2021, the Company sold securities with a cost basis of $5.2 million and recognized a loss on sales of $730,000. As of March 31, 2021, the Company owned a total of 2.7 million Monmouth Real Estate Investment Corporation (“MREIC”), a related REIT, common shares at a total cost of $25.0 million and a fair value of $47.0 million.

As of March 31, 2021, the Company had total net unrealized losses of $29.1 million in its REIT securities portfolio. For the three months ended March 31, 2021, the Company recorded a $10.2 million increase in the fair value of these marketable securities. The Company held thirteen securities that had unrealized losses as of March 31, 2021. The Company normally holds REIT securities long-term and has the ability and intent to hold these securities to recovery.