Boston-based REIT Winthrop Realty Trust has reported a net loss of $22.4 million for the period ended March 31, compared to net income of $6.3 million for the same period last year, a $28.7 million negative swing. 

This decrease in earnings for the comparable periods was due primarily to a $17.7 million loss attributable to impairment charges and an $11.1 million unrealized loss on securities carried at fair value, the trust said.

Of this unrealized loss, $9.8 million was attributable to ownership of Lexington Realty Trust common shares and the balance of $1.3 million was attributable to investments in other REIT bonds and preferred equity shares, the trust said. 

The trust also appointed Carolyn Tiffany as the company’s president, effective Jan. 1. Tiffany previously served as the company’s chief operating officer from Jan. 1, 2004 through Jan. 31, 2007.

The trust declared a regular quarterly cash dividend of $0.25 per common share, which was paid April 15 to common shareholders of record on March 31