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INVESTMENTS IN MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2018
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 $1.76 million and $2.96 million of large capital real estate investment trusts (REITs) as of December 31, 2018 and 2017, respectively.
 
For the years ended December 31, 2018 and 2017, net unrealized (losses) gains on trading securities were approximately ($454,000) and $199,000, respectively.
 
 
 
December 31, 2018
 
 
December 31, 2017
 
Description
 
Cost

Basis
 
 
Fair

Value
 
 
Unrealized

Gain
 
 
Cost

Basis
 
 
Fair

Value
 
 
Unrealized

Gain
 
Real Estate Investment Trusts
 
$
1,888,000
 
 
$
1,760,000
 
 
$
(128,000
)
 
$
2,848,000
 
 
$
2,958,000
 
 
$
110,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mutual Funds, ETF & other
 
 
210,000
 
 
 
206,000
 
 
 
(4,000
)
 
 
258,000
 
 
 
290,000
 
 
 
32,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Equity Securities
 
 
606,000
 
 
 
608,000
 
 
 
2,000
 
 
 
650,000
 
 
 
785,000
 
 
 
135,000
 
Total Equity Securities
 
 
2,704,000
 
 
 
2,574,000
 
 
 
(130,000
)
 
 
3,756,000
 
 
 
4,033,000
 
 
 
276,000
 
Debt Securities
 
 
517,000
 
 
 
502,000
 
 
 
(15,000
)
 
 
485,000
 
 
 
517,000
 
 
 
32,000
 
Total
 
$
3,221,000
 
 
$
3,076,000
 
 
$
(145,000
)
 
$
4,241,000
 
 
$
4,550,000
 
 
$
309,000
 
 
As of December 31, 2018, debt securities are scheduled to mature as follows:
 
 
 
Cost
 
 
Fair Value
 
2019 – 2023
 
$
111,000
 
 
$
110,000
 
2024 – 2028
 
 
153,000
 
 
 
146,000
 
2029 – thereafter
 
 
253,000
 
 
 
246,000
 
 
 
$
517,000
 
 
$
502,000
 
 
Net (loss) gain from investments in marketable securities for the years ended December 31, 2018 and 2017 is summarized below:
 
Description
 
2018
 
 
2017
 
Net realized gains from sales of marketable securities
 
$
51,000
 
 
$
62,000
 
Net unrealized (losses) gains from marketable securities
 
 
(454,000
)
 
 
199,000
 
Total net (losses) gains from investments in marketable securities
 
$
(403,000
)
 
$
261,000
 
 
Net realized gain from sales of marketable securities consisted of approximately $240,000 of gains net of $189,000 of losses for the year ended December 31, 2017. The comparable amounts in fiscal year 2017 were approximately $364,000 of gains net of $302,000 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.