Boston-based Winthrop Realty Trust, which named Carolyn Tiffany as president on Jan. 1, has reported a fourth-quarter net loss of $52.66 million, compared to a net loss of $24.37 million for the same period a year ago – a $28.29 million drop.

This trust said that the decrease in earnings for the comparable periods was due "primarily to $39.7 million of non-cash charges for asset impairments and loan loss reserves recognized by Lex-Win Concord, our debt platform joint venture, that resulted in an equity loss recognized by the company of $16.3 million for the fourth quarter 2008 coupled with a further $36.5 million other-than-temporary impairment to the carrying value of the company’s investment in Lex-Win Concord."

In 2008, the trust reported a net loss of $68.18 million, compared to net income of $2.48 million in 2007 – a $70.66 million swing.

Through February 2009, the trust repurchased a total of 1.9 million shares, having a redemption value of $48.5 million for a gross price of approximately $35.7 million, a 26.5 percent blended discount, the trust said.

Currently, 1.5 million of the company’s shares remain outstanding.

The trust also declared a regular quarterly cash dividend for the fourth quarter of $0.325 per common share and a special dividend of $0.05 per common share, both of which were paid on Jan. 15.