Mortgage Investments Plus Net Income Slips 19%

Mortgage Investments Plus, a real estate investment trust, said its third-quarter profit fell 19% from a year earlier.

The Woodland Hills-based firm reported net income in the three months ended Sept. 30 of $1.3 million, or 14 cents a share, compared to $1.6 million, or 18 cents a share, a year ago.

For the first nine months of 1987, Mortgage Investments’ earnings were down 20% from the comparable 1986 period, to $4.1 million, or 46 cents a share, from $5.1 million, or 56 cents a share.

Real estate investment trusts, or REITs, manage a portfolio of real estate. Most of their interest income, rental income and capital gains from those properties are then paid out to shareholders.