ADVFN - Advanced Financial Network.
HOME» NYSE » G » GBE Stock Price » GBE Stock News

Grubb Ellis Share News

 Grubb & Ellis Stock Price
GBE Stock Price
 Grubb & Ellis Stock Chart
GBE Stock Chart
 Grubb & Ellis Stock News
GBE Stock News
 Grubb & Ellis Company Information
GBE Company Information
 Grubb & Ellis Stock Trades
GBE Stock Trades

Grubb & Ellis 3Q Loss Narrows, Missing Views, As Revenue Rises

DOW JONES NEWSWIRES Grubb & Ellis Co.'s (GBE) third-quarter loss narrowed amid higher revenue, but the bottom line missed analysts' expectations. The commercial real-estate service and investment firm was hit hard by the downturn in that market, but has seen signs of improvement of late. Demand for space in offices, shopping centers, apartments and hotels has been slack amid the tepid economic recovery. Nevertheless, larger rival CB Richard Ellis Group Inc. (CBG) last month reported its third-quarter profit more than tripled while Jones Lang LaSalle Inc.'s (JLL) earnings jumped 88%. Grubb & Ellis posted a loss of $14.8 million, or 27 cents a share, compared with a year-earlier loss of $21.4 million, or 34 cents a share. Analysts polled by Thomson Reuters most recently forecast a 24-cent loss. Revenue rose 6% to $144.3 million. The company said last month it expected to report $144 million, falling short of analysts' then-estimates. Revenue in Grubb's management-services segment, its largest on that basis, slid 3.2%. Transaction-services revenue jumped 29% but the unit's loss widened amid higher commissions and related costs. At the investment-management business, revenue dropped 24%. Shares closed Monday at $1.08 and were inactive premarket. The stock has retreated 16% so far this year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Grubb Ellis (GBE)
DateTimeHeadline
11/09/201008:58:28Grubb & Ellis 3Q Loss Narrows, Missing Views, As Revenue Rises

Grubb Ellis and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad