07:14 AM EST, 02/26/2025 (MT Newswires) -- Timbercreek Financial ( TBCRF ) overnight Tuesday, reported a decrease in net income and comprehensive income while also reporting a strong mortgage investment portfolio supported by improving market conditions.

The company reported net income and comprehensive income of $2.4 million and earnings per share of $0.03 for the three months ended Dec. 31, compared with $15 million and $0.18 per share, respectively, a year earlier.

Distributable income for Q4 was $17.7 million, compared to $17.5 million, in the prior year period. Net investment income fell to $27.9 million for the quarter versus $29.7 million, a year ago.

The quarterly net mortgage investment portfolio increased by $72.2 million to $1.09 billion as a result of advancing $241.9 million in net mortgage investments and receiving net mortgage repayments of $171.3 million.

"During 2024, we saw many commercial real estate asset classes emerging from a challenging post-pandemic environment, resulting in a significant improvement in the Company's business fundamentals in recent quarters," said Timbercreek Financial ( TBCRF ) Chief Executive Blair Tamblyn. "We are confident in our ability to drive higher transaction volumes and strong net investment income and distributable income in 2025."

Shares of the company closed up $0.08 or 1.2%, to $6.78 on Tuesday on the Toronto Stock Exchange.