Gyrodyne Company of America, Inc., a real estate investment trust (REIT), engages in the investment in and the acquisition, ownership, and management of a portfolio of properties. The company also involves in the development of industrial and residential properties. It focuses on acquiring, developing, owning, leasing, and managing medical, commercial, and industrial real estate. The company has elected to be taxed as REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income tax purposes, provided that it distributes at least 90% of its taxable income to its shareholders. The company was founded in 1946 and is headquartered in St. James, New York.