Maguire Properties Inc. on Monday said its third quarter loss narrowed, as the office building owner reported slightly higher revenue and fewer charges despite the continued depressed commercial real estate market.

After the markets closed, the Los Angeles real estate investment trust reported a loss of $42.1 million (-97 cents a share), compared with a loss of $67.8 million (-$1.52) a year ago. Write-downs lowered results by $10.1 million, but that amount was 54 percent less than was taken a year ago.

Funds from operations, an industry metric that adjusts for depreciation and amortization expenses, showed a loss of 24 cents, compared with a 42-cent loss a year ago. Excluding one-time items, FFO was 6 cents. Analysts surveyed by Thomson Reuters expected 5 cents.

Total revenue rose 2 percent to $126.3 million, with rental revenue up more than 5 percent.

Maguire has been hurt by debt from real estate purchases at the height of the market bubble last year. The REIT in August announced it would default on seven of its buildings, and has put some on the market.

Shares earlier closed down 4 cents, or 2 percent, to $1.72 on the New York Stock Exchange.