Hanover Capital Incurs Loss

Hanover Capital Mortgage Holdings Inc., a New York-based real estate investment trust, has reported a net loss of $700,000 ($0.08 per share) for the first quarter, compared with net income of $1.4 million ($0.16 per share) a year earlier.The mortgage REIT attributed the loss to the lower operating income of its REIT segment, primarily due to the difference in the gain on sale of mortgage assets. The sale of mortgage assets resulted in a loss of $100,000 in the first quarter, compared with a $2.3 million gain in the first quarter of 2005, Hanover reported. The company can be found online at http://www.hanovercapitalholdings.com