American Residential Investment Trust, a Del Mar, Calif., real estate investment trust that investschiefly in nonconforming residential mortgage assets, has reported a net loss of $6.2 million ($0.77 per share)for 2000, compared with a net loss of 43.9 million ($0.48 per share) for 1999. TheREIT reported a net loss of $566,000 ($0.07 per share) for the fourth quarter. "Although short-term operatingincome suffered because the size of the portfolio has decreased, we believe our strategy to become a mortgage originatorwill provide new sources of revenue," said John M. Robbins Jr., the company's chairman and chief executiveofficer. The REIT's website address is http://www.amerreit.com.
Processing Content
