The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579y101 1,646 8,600 SH   SOLE   7,600 0 1,000
ABBOTT LABS COM 002824100 1,363 30,700 SH   SOLE   15,000 0 15,700
ABBVIE INC COM 00287y109 1,035 15,880 SH   SOLE   0 0 15,880
AFLAC INC COM 001055102 2,896 39,988 SH   SOLE   0 0 39,988
AGNICO EAGLE MINES LTD COM 008474108 530 12,500 SH   SOLE   0 0 12,500
ALLERGAN PLC SHS g0177j108 239 1,000 SH   SOLE   0 0 1,000
ALLSTATE CORP COM 020002101 7,884 96,750 SH   SOLE   12,100 0 84,650
ALPHABET INC CAP STK CL A 02079k305 551 650 SH   SOLE   0 0 650
ALPHABET INC CAP STK CL C 02079k107 2,199 2,651 SH   SOLE   0 0 2,651
ALPS ETF TR ALERIAN MLP 00162q866 6,816 536,300 SH   SOLE   28,100 0 508,200
AMAZON COM INC COM 023135106 621 700 SH   SOLE   0 0 700
AMERICAN ELEC PWR INC COM 025537101 1,477 22,000 SH   SOLE   0 0 22,000
AMERICAN EXPRESS CO COM 025816109 665 8,400 SH   SOLE   1,000 0 7,400
AMERICAN HOMES 4 RENT CL A 02665t306 5,643 245,789 SH   SOLE   28,875 0 216,914
AMERICAN INTL GROUP INC COM NEW 026874784 1,093 17,502 SH   SOLE   10,000 0 7,502
AMGEN INC COM 031162100 1,280 7,800 SH   SOLE   0 0 7,800
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524a108 2,678 24,400 SH   SOLE   1,500 0 22,900
AON PLC SHS CL A g0408v102 771 6,500 SH   SOLE   0 0 6,500
APPLE INC COM 037833100 201 1,400 SH   SOLE   0 0 1,400
ARAMARK COM 03852u106 1,728 46,850 SH   SOLE   5,500 0 41,350
AT&T INC COM 00206r102 9,326 224,461 SH   SOLE   28,500 0 195,961
AUTOMATIC DATA PROCESSING IN COM 053015103 598 5,845 SH   SOLE   0 0 5,845
BANK AMER CORP COM 060505104 520 22,040 SH   SOLE   20,000 0 2,040
BANK NEW YORK MELLON CORP COM 064058100 11,869 251,300 SH   SOLE   63,000 0 188,300
BARRICK GOLD CORP COM 067901108 418 22,000 SH   SOLE   0 0 22,000
BERKSHIRE HATHAWAY INC DEL CL A 084670108 10,993 44 SH   SOLE   0 0 44
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 8,292 49,750 SH   SOLE   0 0 49,750
BIOGEN INC COM 09062x103 547 2,000 SH   SOLE   0 0 2,000
BLACKROCK INC COM 09247x101 1,151 3,000 SH   SOLE   0 0 3,000
BRIXMOR PPTY GROUP INC COM 11120u105 880 41,000 SH   SOLE   12,000 0 29,000
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 3,502 96,073 SH   SOLE   31,500 0 64,573
CARLYLE GROUP L P COM UTS LTD PTN 14309l102 159 10,000 SH   SOLE   0 0 10,000
CATERPILLAR INC DEL COM 149123101 909 9,800 SH   SOLE   500 0 9,300
CENTRAL FD CDA LTD CL A 153501101 193 15,000 SH   SOLE   0 0 15,000
CHARTER COMMUNICATIONS INC N CL A 16119p108 472 1,443 SH   SOLE   0 0 1,443
CHESAPEAKE ENERGY CORP COM 165167107 157 26,400 SH   SOLE   0 0 26,400
CHEVRON CORP NEW COM 166764100 3,130 29,150 SH   SOLE   10,000 0 19,150
CHUBB LIMITED COM h1467j104 4,578 33,600 SH   SOLE   18,300 0 15,300
CIGNA CORPORATION COM 125509109 879 6,000 SH   SOLE   0 0 6,000
COCA COLA CO COM 191216100 899 21,200 SH   SOLE   9,500 0 11,700
COLGATE PALMOLIVE CO COM 194162103 937 12,800 SH   SOLE   0 0 12,800
COLONY STARWOOD HOMES COM 19625x102 2,977 87,700 SH   SOLE   21,400 0 66,300
COMCAST CORP NEW CL A 20030n101 2,609 69,400 SH   SOLE   15,000 0 54,400
CONOCOPHILLIPS COM 20825c104 329 6,597 SH   SOLE   0 0 6,597
CONTRAFECT CORP COM 212326102 46 25,725 SH   SOLE   0 0 25,725
CORECIVIC INC COM 21871n101 7,023 223,500 SH   SOLE   58,000 0 165,500
CREDIT SUISSE GROUP SPONSORED ADR 225401108 297 20,000 SH   SOLE   0 0 20,000
CYRUSONE INC COM 23283R100 1,594 30,970 SH   SOLE   3,800 0 27,170
D R HORTON INC COM 23331a109 400 12,000 SH   SOLE   0 0 12,000
DELTA AIR LINES INC DEL COM NEW 247361702 368 8,000 SH   SOLE   8,000 0 0
DIAGEO P L C SPON ADR NEW 25243q205 8,045 69,600 SH   SOLE   14,050 0 55,550
DIAMONDROCK HOSPITALITY CO COM 252784301 883 79,200 SH   SOLE   4,900 0 74,300
DISNEY WALT CO COM DISNEY 254687106 2,619 23,100 SH   SOLE   5,000 0 18,100
DOLLAR GEN CORP NEW COM 256677105 662 9,500 SH   SOLE   2,000 0 7,500
DU PONT E I DE NEMOURS & CO COM 263534109 482 6,000 SH   SOLE   0 0 6,000
DUKE REALTY CORP COM NEW 264411505 447 17,000 SH   SOLE   10,000 0 7,000
DUN & BRADSTREET CORP DEL NE COM 26483e100 459 4,250 SH   SOLE   0 0 4,250
ECOLAB INC COM 278865100 1,308 10,436 SH   SOLE   0 0 10,436
EMPIRE ST RLTY TR INC CL A 292104106 437 21,200 SH   SOLE   0 0 21,200
EXXON MOBIL CORP COM 30231g102 6,239 76,078 SH   SOLE   16,600 0 59,478
FACEBOOK INC CL A 30303m102 2,141 15,075 SH   SOLE   0 0 15,075
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620r303 448 11,500 SH   SOLE   0 0 11,500
FIRST REP BK SAN FRANCISCO C COM 33616c100 375 4,000 SH   SOLE   3,000 0 1,000
FOREST CITY RLTY TR INC COM CL A 345605109 2,854 131,000 SH   SOLE   15,000 0 116,000
FRANCO NEVADA CORP COM 351858105 449 6,850 SH   SOLE   0 0 6,850
GENERAL ELECTRIC CO COM 369604103 7,259 243,575 SH   SOLE   62,500 0 181,075
GLADSTONE LD CORP COM 376549101 172 15,500 SH   SOLE   0 0 15,500
GOLDMAN SACHS GROUP INC COM 38141g104 241 1,050 SH   SOLE   0 0 1,050
GULFMARK OFFSHORE INC CL A NEW 402629208 4 10,100 SH   SOLE   0 0 10,100
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 288 15,350 SH   SOLE   2,500 0 12,850
HILTON WORLDWIDE HLDGS INC COM 43300a203 1,563 26,740 SH   SOLE   15,333 0 11,407
HOST HOTELS & RESORTS INC COM 44107p104 2,068 110,858 SH   SOLE   12,700 0 98,158
HOWARD HUGHES CORP COM 44267d107 410 3,500 SH   SOLE   0 0 3,500
INTERSECTIONS INC COM 460981301 212 52,645 SH   SOLE   0 0 52,645
ISHARES MSCI FRANCE ETF 464286707 570 21,500 SH   SOLE   0 0 21,500
ISHARES MSCI SZ CAP ETF 464286749 629 19,679 SH   SOLE   0 0 19,679
ISHARES GOLD TRUST ISHARES 464285105 3,531 294,000 SH   SOLE   0 0 294,000
ISHARES TR GLOBAL 100 ETF 464287572 687 8,400 SH   SOLE   0 0 8,400
ISHARES TR SELECT DIVID ETF 464287168 1,018 11,175 SH   SOLE   0 0 11,175
JOHNSON & JOHNSON COM 478160104 4,497 36,100 SH   SOLE   4,500 0 31,600
JPMORGAN CHASE & CO COM 46625h100 7,510 85,500 SH   SOLE   5,700 0 79,800
KELLOGG CO COM 487836108 363 5,000 SH   SOLE   5,000 0 0
KEYCORP NEW COM 493267108 178 10,000 SH   SOLE   10,000 0 0
KIMCO RLTY CORP COM 49446r109 1,537 69,600 SH   SOLE   8,500 0 61,100
KINDER MORGAN INC DEL COM 49456b101 435 20,000 SH   SOLE   0 0 20,000
LABORATORY CORP AMER HLDGS COM NEW 50540r409 1,004 7,000 SH   SOLE   0 0 7,000
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 271 7,000 SH   SOLE   0 0 7,000
LILLY ELI & CO COM 532457108 871 10,350 SH   SOLE   0 0 10,350
MACK CALI RLTY CORP COM 554489104 700 26,000 SH   SOLE   5,000 0 21,000
MARRIOTT VACATIONS WRLDWDE C COM 57164y107 292 2,925 SH   SOLE   180 0 2,745
MARSH & MCLENNAN COS INC COM 571748102 6,897 93,350 SH   SOLE   18,300 0 75,050
MCDONALDS CORP COM 580135101 907 7,000 SH   SOLE   7,000 0 0
MERCK & CO INC COM 58933y105 330 5,200 SH   SOLE   0 0 5,200
METLIFE INC COM 59156r108 2,107 39,900 SH   SOLE   11,200 0 28,700
MICROSOFT CORP COM 594918104 3,828 58,120 SH   SOLE   26,500 0 31,620
MONDELEZ INTL INC CL A 609207105 969 22,500 SH   SOLE   2,000 0 20,500
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,523 106,692 SH   SOLE   20,000 0 86,692
MONSANTO CO NEW COM 61166w101 2,626 23,200 SH   SOLE   0 0 23,200
NAVIGATOR HOLDINGS LTD SHS y62132108 2,076 151,000 SH   SOLE   5,000 0 146,000
NEW YORK REIT INC COM 64976L109 291 30,000 SH   SOLE   5,000 0 25,000
NEXTERA ENERGY INC COM 65339f101 899 7,000 SH   SOLE   0 0 7,000
NOBLE ENERGY INC COM 655044105 3,399 99,000 SH   SOLE   20,700 0 78,300
NOVARTIS A G SPONSORED ADR 66987v109 754 10,150 SH   SOLE   0 0 10,150
PARK HOTELS RESORTS INC COM 700517105 257 10,032 SH   SOLE   3,462 0 6,570
PEPSICO INC COM 713448108 4,758 42,530 SH   SOLE   5,200 0 37,330
PFIZER INC COM 717081103 1,406 41,100 SH   SOLE   19,000 0 22,100
PHYSICIANS RLTY TR COM 71943u104 244 12,300 SH   SOLE   6,000 0 6,300
PINNACLE WEST CAP CORP COM 723484101 1,042 12,500 SH   SOLE   0 0 12,500
PNC FINL SVCS GROUP INC COM 693475105 601 5,000 SH   SOLE   5,000 0 0
PROCTER AND GAMBLE CO COM 742718109 7,463 83,056 SH   SOLE   18,000 0 65,056
PROLOGIS INC COM 74340w103 1,305 25,150 SH   SOLE   14,500 0 10,650
QUEST DIAGNOSTICS INC COM 74834l100 344 3,500 SH   SOLE   0 0 3,500
RAYTHEON CO COM NEW 755111507 1,067 7,000 SH   SOLE   7,000 0 0
REPUBLIC SVCS INC COM 760759100 1,068 17,000 SH   SOLE   11,500 0 5,500
RETAIL OPPORTUNITY INVTS COR COM 76131n101 1,603 76,200 SH   SOLE   25,500 0 50,700
REXFORD INDL RLTY INC COM 76169c100 721 32,000 SH   SOLE   15,000 0 17,000
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 290 5,500 SH   SOLE   0 0 5,500
SCHLUMBERGER LTD COM 806857108 6,083 77,896 SH   SOLE   20,200 0 57,696
SCHWAB CHARLES CORP NEW COM 808513105 612 15,000 SH   SOLE   15,000 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369y308 1,638 30,000 SH   SOLE   10,000 0 20,000
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369y209 1,487 20,000 SH   SOLE   10,000 0 10,000
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369y506 4,495 64,300 SH   SOLE   20,300 0 44,000
SELECT SECTOR SPDR TR SBI INT-FINL 81369y605 356 15,000 SH   SOLE   15,000 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369y803 800 15,000 SH   SOLE   0 0 15,000
SIMON PPTY GROUP INC NEW COM 828806109 1,548 9,000 SH   SOLE   2,600 0 6,400
SPDR GOLD TRUST GOLD SHS 78463v107 22,546 189,907 SH   SOLE   7,365 0 182,542
SPDR S&P 500 ETF TR TR UNIT 78462f103 3,734 15,840 SH   SOLE   0 0 15,840
SPDR SERIES TRUST S&P DIVID ETF 78464a763 793 9,000 SH   SOLE   0 0 9,000
SUMMIT HOTEL PPTYS COM 866082100 559 35,000 SH   SOLE   10,000 0 25,000
SUNTRUST BKS INC COM 867914103 553 10,000 SH   SOLE   10,000 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 868 26,500 SH   SOLE   4,000 0 22,500
TARGET CORP COM 87612e106 1,187 21,500 SH   SOLE   4,800 0 16,700
TAUBMAN CTRS INC COM 876664103 838 12,700 SH   SOLE   1,000 0 11,700
TIME WARNER INC COM NEW 887317303 1,393 14,250 SH   SOLE   0 0 14,250
TJX COS INC NEW COM 872540109 9,087 114,900 SH   SOLE   27,600 0 87,300
TOTAL S A SPONSORED ADR 89151e109 252 5,000 SH   SOLE   0 0 5,000
TRANSCANADA CORP COM 89353d107 808 17,500 SH   SOLE   0 0 17,500
UBS GROUP AG SHS h42097107 319 20,000 SH   SOLE   0 0 20,000
UMH PPTYS INC COM 903002103 649 42,708 SH   SOLE   5,000 0 37,708
UNILEVER N V N Y SHS NEW 904784709 5,594 112,600 SH   SOLE   26,000 0 86,600
UNITED TECHNOLOGIES CORP COM 913017109 224 2,000 SH   SOLE   0 0 2,000
URSTADT BIDDLE PPTYS INC CL A 917286205 504 24,500 SH   SOLE   4,500 0 20,000
VALIDUS HOLDINGS LTD COM SHS g9319h102 2,035 36,100 SH   SOLE   4,000 0 32,100
VANECK VECTORS ETF TR GOLD MINERS ETF 92189f106 3,725 163,318 SH   SOLE   2,000 0 161,318
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,346 16,600 SH   SOLE   0 0 16,600
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 1,701 17,025 SH   SOLE   0 0 17,025
VANGUARD INDEX FDS TOTAL STK MKT 922908769 6,175 50,900 SH   SOLE   0 0 50,900
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 1,058 22,130 SH   SOLE   0 0 22,130
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 1,393 27,000 SH   SOLE   0 0 27,000
VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 373 3,630 SH   SOLE   0 0 3,630
VANTIV INC CL A 92210h105 321 5,000 SH   SOLE   0 0 5,000
VECTOR GROUP LTD COM 92240m108 1,209 58,127 SH   SOLE   0 0 58,127
VERIZON COMMUNICATIONS INC COM 92343v104 394 8,080 SH   SOLE   460 0 7,620
VORNADO RLTY TR SH BEN INT 929042109 6,379 63,600 SH   SOLE   11,600 0 52,000
WALGREENS BOOTS ALLIANCE INC COM 931427108 345 4,150 SH   SOLE   0 0 4,150
WAL-MART STORES INC COM 931142103 1,081 15,000 SH   SOLE   13,000 0 2,000
WASTE MGMT INC DEL COM 94106l109 1,167 16,000 SH   SOLE   15,000 0 1,000
WELLS FARGO & CO NEW COM 949746101 4,139 74,358 SH   SOLE   25,300 0 49,058
WESTERN COPPER & GOLD CORP COM 95805v108 13 10,000 SH   SOLE   0 0 10,000
WEYERHAEUSER CO COM 962166104 1,631 48,000 SH   SOLE   16,000 0 32,000
WILLIAMS COS INC DEL COM 969457100 590 19,950 SH   SOLE   0 0 19,950