INVESTMENTS IN MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. INVESTMENTS IN MARKETABLE SECURITIES

Investments in marketable securities consist primarily of large capital corporate equity and debt securities in varying industries or issued by government agencies with readily determinable fair values. These securities are stated at market value, as determined by the most recent traded price of each security at the balance sheet date. Consistent with the Company's overall current investment objectives and activities its entire marketable securities portfolio is classified as trading. Accordingly, all unrealized gains (losses) on this portfolio are recorded in income. Included in investments in marketable securities is approximately $6.2 million and $8.3 million of large capital real estate investment trusts (REITs) as of December 31, 2016 and 2015, respectively.

For the years ended December 31, 2016 and 2015, net unrealized losses on trading securities were approximately $21,000 and $402,000, respectively.

	December 31, 2016						December 31, 2015
	Cost		Fair		Unrealized		Cost		Fair		Unrealized
Description	Basis		Value		Gain (loss)		Basis		Value		Gain (loss)
Real Estate Investment Trusts	$	6,197,000	$	6,249,000	$	52,000	$	8,108,000	$	8,320,000	$	212,000
Mutual Funds, ETF & other		222,000		244,000		22,000		755,000		753,000		(2,000)
Other Equity Securities		525,000		544,000		19,000		666,000		697,000		31,000
Total Equity Securities		6,944,000		7,037,000		93,000		9,529,000		9,770,000		241,000
Debt Securities		696,000		713,000		17,000		847,000		737,000		(110,000)
Total	$	7,640,000	$	7,750,000	$	110,000	$	10,376,000	$	10,507,000	$	131,000

As of December 31, 2016, debt securities are scheduled to mature as follows:

	Cost		Fair Value
2017 – 2021	$	50,000	$	50,000
2022 – 2026		187,000		199,000
2027 – thereafter		459,000		464,000
	$	696,000	$	713,000

Net gain (loss) from investments in marketable securities for the years ended December 31, 2016 and 2015 is summarized below:

Description	2016		2015
Net realized gain from sales of marketable securities	$	271,000	$	50,000
Net unrealized loss from marketable securities		(21,000)		(402,000)
Total net gain (loss) from investments in marketable securities	$	250,000	$	(352,000)

Net realized gain from sales of marketable securities consisted of approximately $648,000 of gains net of $377,000 of losses for the year ended December 31, 2016. The comparable amounts in fiscal year 2015 were approximately $487,000 of gains net of $437,000 of losses.

Consistent with the Company’s overall current investment objectives and activities the entire marketable securities portfolio is classified as trading (as defined by U.S. generally accepted accounting principles). Unrealized gains or losses of marketable securities on hand are recorded in income.

Investment gains and losses on marketable securities may fluctuate significantly from period to period in the future and could have a significant impact on the Company’s net earnings. However, the amount of investment gains or losses on marketable securities for any given period has no predictive value and variations in amount from period to period have no practical analytical value.

Investments in marketable securities give rise to exposure resulting from the volatility of capital markets. The Company attempts to mitigate its risk by diversifying its marketable securities portfolio.