EXHIBIT 11
GRUBB & ELLIS COMPANY AND SUBSIDIARIES
EXHIBIT (11) STATEMENT RE COMPUTATION OF
PER SHARE EARNINGS - FORM 10-Q
for the three and nine months periods ended
March 31, 1997 and 1996
(Unaudited)
(in thousands, except for shares and per share amounts)
For the Three Months For the Nine Months
Ended March 31, Ended March 31,
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1997 1996 1997 1996
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Primary income (loss) per
share applicable to Common
Stock:
Weighted average common shares
and equivalents outstanding 19,963,770 8,883,970 15,150,338 8,861,519
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Net income (loss) $ 534 $ (5,116) $ 10,553 $ 812
Earnings applicable to
Senior Preferred Stock - (557) (1,032) (1,590)
Junior Preferred Stock - (214) - (627)
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Net income (loss) applicable
to Common Stockholders $ 534 $ (5,887) $ 9,521 $ (1,405)
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Net income (loss) per common
shares and equivalents
applicable to Common Stock-
From operations $ (.07) $ (.66) $ .26 $ (.16)
From extraordinary gain .10 - .37 -
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$ .03 $ (.66) $ .63 $ (.16)
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Fully-diluted income (loss)
per share applicable to
Common Stock:
Weighted average common shares
and equivalents outstanding 20,162,084 8,883,970 18,787,134 8,861,519
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Net income (loss) applicable
to Common Stockholders $ 534 $ (5,887) $ 10,553 $ (1,405)
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Net income (loss) per common
share and equivalents
applicable to Common Stock-
From operations $ (.07) $ (.66) $ .26 $ (.16)
From extraordinary gain .10 - .30 -
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$ .03 $ (.66) $ .56 $ (.16)
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