Quarterly Profits Up 10% at Mortgage Investments

Mortgage Investments Plus, a real estate investment trust in Woodland Hills, said its first-quarter profit rose 10% from a year earlier, to $952,200 from $867,700.

The company attributed the gain to higher rental income from its real estate properties, together with reduced losses on some joint ventures. However, Mortgage Investments said the gains were offset somewhat by lower net interest income on its financial investments.