Mortgage Investments’ Net Income Down 33%

Mortgage Investments Plus said its net income in the second quarter that ended June 30 fell 33% to $923,954, or 10 cents a share.

The Woodland Hills real estate investment trust, which is advised by Weyerhaeuser Mortgage Co., said depreciation and other non-cash charges were higher in the quarter than they were a year earlier.

For the six months, net income fell 37% to $1.8 million, or 20 cents a share.