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Investments in Available for Sale Securities
9 Months Ended
Sep. 30, 2016
Unrealized Gain (Loss) on Investments [Abstract]  
Investments in Available for Sale Securities
Investments in Available for Sale Securities
 
At September 30, 2016, we owned 4,235,000 common shares of Five Star. We classify these shares as available for sale securities and carry them at fair market value in other assets in our condensed consolidated balance sheets, with unrealized gains and losses reported as a component of shareholders’ equity. Our historical cost basis for these shares is $14,230. At September 30, 2016, our investment in Five Star had a fair value of $8,089, resulting in a cumulative unrealized loss of $6,141 based on Five Star’s quoted share price at September 30, 2016 ($1.91 per share).
 
At September 30, 2016, we owned 2,637,408 shares of class A common stock of The RMR Group Inc., or RMR Inc. We classify these shares of RMR Inc. as available for sale securities and carry them at fair value in other assets in our condensed consolidated balance sheets, with unrealized gains and losses reported as a component of shareholders’ equity. Our historical cost basis for these shares is $69,826. At September 30, 2016, our investment in RMR Inc. had a fair value of $100,063, resulting in a cumulative unrealized gain of $30,237 based on RMR Inc.’s quoted share price at September 30, 2016 ($37.94 per share).
 
See Notes 7 and 10 below for further information regarding our investments in available for sale securities.