Newton-based real estate investment trust Five Star Quality Care has reported a fourth-quarter net loss of $7.4 million, compared to net income of $6.7 million for the same period a year ago – a $14.1 million drop.

Net loss from continuing operations for the fourth quarter of 2008 included several items that resulted in a negative impact of $7.9 million, the trust said.

These items included a $5.9 million unrealized loss on the trust’s holdings of auction rate securities, a $5.9 million loss due to impairment of goodwill and a $5.4 million loss due to the impairment of our investments in certain marketable securities held by the trust’s captive insurance companies.

In 2008, the trust reported a net loss of $4.5 million, compared to net income of $23.3 million for 2007 – a $27.8 million swing.