Anthracite Capital shares dive on $110 mln Q2 loss

* Q2 net loss $1.39/shr

* Q2 oper EPS $0.07 vs est $0.04

* Sees no new investment in 2009

* Sees not meeting certain principal paydown requirements

Aug 11 (Reuters) - Shares of Anthracite Capital Inc AHR.N, which invests in commercial real estate assets, dived as much as 26 percent Tuesday, a day after the company posted its third straight quarterly loss and said it does not expect to make any new investments in 2009. The company also said its current projections showed it would not be able to meet principal paydown requirements for certain secured lenders on Sept. 30.

For the second quarter, the company posted a net loss of $110.1 million, or $1.39 a share, compared with a profit of $28.2 million, or 38 cents a share, a year back.

The company has a market-capitalization of about $63 million, according to Reuters data.

On an operating basis, Anthracite earned 7 cents a share.

Two analysts on average were looking for a profit of 4 cents a share, excluding items, according to Reuters Estimates.

During the quarter, Anthracite had realized losses of $52.8 million, and it set aside $48.6 million for loan losses.

Anthracite, which is externally managed by a subsidiary of BlackRock Inc (BLK.N), said in March that its auditors raised substantial doubt about the company's ability to continue as a going concern.

Shares of the New York-based company, which traded as high as $7.28 last September, were down about 26 percent at 75 cents in premarket trade. (Reporting by Anurag Kotoky in Bangalore; Editing by Ratul Ray Chaudhuri)