Mortgage and Realty Trust Reports Loss Narrowed

Mortgage and Realty Trust, a real estate investment trust with offices in Burbank and Elkin Park, Pa., said its fiscal first-quarter net loss narrowed to $4.6 million from $5.5 million a year ago.

However, the trust said the narrower net loss for the three months that ended Dec. 31 did not include certain reserves, including provisions for losses on real estate loans and investments.