Shares in Maguire Properties Inc. stayed steady despite downtown Los Angeles’ largest office landlord posting its fourth-straight quarterly loss (and its seventh loss in the past eight quarters).

Maguire reported a first quarter loss of $13 million (-27 cents per share), a significant decrease from a profit of $84 million ($1.84) from the same period a year earlier, hurt mainly by acquisition costs as well as property sales, the company said.

The Los Angeles-based real estate investment trust also reported a 3 percent dip in revenues to $107 million due to diminishing occupancy, the company said.

The company’s results were also impacted by its $3 billion acquisition of 24 properties from private equity firm Blackstone Group LP. Maguire Properties is currently cherry picking properties from the portfolio, which includes office properties in Los Angeles, Orange and San Diego counties, for selected sales. Those deals have netted nearly $700 million so far.

Shares in Maguire were up 7 cents Wednesday despite the disappointing earnings to $35.84 in afternoon trading on the New York Stock Exchange.