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MARKETABLE SECURITIES | 9 Months Ended
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Sep. 30, 2024
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 $34.2 million as of September 30, 2024, which represents 1.7% of undepreciated assets (total assets excluding accumulated depreciation). The Company does not intend to increase its investments in this REIT securities portfolio. The REIT securities portfolio provides the Company with additional diversification, liquidity and income. As of September 30, 2024, the Company had total net unrealized losses of $36.2 million in its REIT securities portfolio. For the three and nine months ended September 30, 2024, the Company recorded increases of $5.5 million and $3.5 million, respectively, in the fair value of these marketable securities. The Company held seven securities that had unrealized losses as of September 30, 2024.

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