Anworth Mortgage Asset Corp. said Tuesday after markets closed that its second-quarter net income hit a record, largely due to the shuttering of a money-losing mortgage unit.

Net income for the Santa Monica-based real estate investment trust rose 579 percent to $24.3 million (29 cents a share) compared to $3.58 million (5 cents) in the same period a year earlier. The per-share consensus of analysts surveyed by Bloomberg News was 27 cents.

Anworth in March closed its Belvedere Trust Mortgage Corp. subsidiary, which had financed and invested in “jumbo” mortgages popular in high cost markets like California, where homeowners generally need more than a conventional $417,000 mortgage.

Anworth shares closed up 17 cents, or 2.9 percent, to $6.02 in trading on the New York Stock Exchange before the report. The shares have been down 27 percent so far this year.