MARKETABLE SECURITIES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Investments, Debt and Equity Securities [Abstract] | |
| MARKETABLE SECURITIES | NOTE 3 – MARKETABLE SECURITIES
The Company’s marketable securities consist primarily of marketable common and preferred stock of other REITs with a fair value of $29.7 million as of June 30, 2026, which represents 1.3% of undepreciated assets (total assets excluding accumulated depreciation). Other than purchasing marketable equity securities through automatic dividend reinvestments, the Company has not made any purchases of REIT securities during the six months ended June 30, 2026 and the Company does not intend to increase its investment in the REIT securities portfolio. The REIT securities portfolio provides the Company with additional diversification, liquidity and income.
For the six months ended June 30, 2026, the Company had a net gain of $5.9 million on our securities portfolio consisting of an increase in fair value of marketable securities of $42.3 million partially offset by a loss on sales of marketable securities of $36.4 million. As of June 30, 2026, the Company had total net unrealized gains of $1.5 million in its REIT securities portfolio. The Company held six securities that had unrealized losses as of June 30, 2026.
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