Gramercy Capital Corp Third Quarter Earnings Sneak Peek

Gramercy Capital Corp. (NYSE:GKK) will unveil its latest earnings on Thursday, November 8, 2012. Gramercy Capital is an integrated commercial real estate finance and property investment company.

Gramercy Capital Corp. Earnings Preview Cheat Sheet

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A Look Back: In the second quarter, the company dropped to a loss of $19.7 million (42 cents a share) from a profit of $17.3 million (31 cents) in the year-earlier quarter. Revenue fell 69.7% to $49.1 million from $162 million.

Stock Price Performance: Between August 9, 2012 and November 2, 2012, the stock price rose 41 cents (17.4%), from $2.36 to $2.77. The stock price saw one of its best stretches over the last year between August 9, 2012 and August 16, 2012, when shares rose for six straight days, increasing 10.6% (+25 cents) over that span. It saw one of its worst periods between October 2, 2012 and October 10, 2012 when shares fell for seven straight days, dropping 8.5% (-26 cents) over that span.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 15.6% in the third quarter of the last fiscal year, more than threefold in fourth quarter of the last fiscal year and 65.6% in the first quarter and then fell again in the second quarter.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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