Grubb & Ellis Company (Grubb & Ellis) is a commercial real estate services and investment management firm. The Company operates in three segments: Management Services, which includes property management, corporate facilities management, project management, client accounting, business services and engineering services for unrelated third parties and the properties owned by the investment programs it sponsors; Transaction Services, which consists of its real estate brokerage operations, and Investment Management, which includes providing acquisition, financing, disposition and asset management services with respect to its investment programs and dealer-manager services by its securities broker-dealer, which facilitates capital raising transactions for its real estate investment trust (REIT), tenant-in-common (TIC) and other investment programs. In July 2010, Grubb & Ellis Company acquired a 100% interest in its Las Vegas affiliate, Grubb & Ellis Las Vegas.
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BUYERS ACCUMULATING SHARES OF GRUBB & ELLIS ON 1.7X ABOVE-AVERAGE VOLUME (GBE)
Print Share Jan 06, 2011 (SmarTrend(R) News Watch via COMTEX) -- Shares of Grubb & Ellis (NYSE:GBE) are trading up 6.9% to $1.39 today on above average volume. Approximately 445,000 shares have traded hands today vs. average 30-day volume of 266,000 shares.
Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of GBE to see if this bullish momentum will continue.
SmarTrend currently has shares of Grubb & Ellis in an Uptrend and issued the Uptrend alert on August 03, 2010 at $1.24. The stock has risen 4.8% since the Uptrend alert was issued.
In the last five trading sessions, the 50-day MA has climbed 0.82% while the 200-day MA has slid 0.88%.
In the past 52 weeks, shares of Grubb & Ellis have traded between a low of $0.91 and a high of $2.35 and are now at $1.35, which is 48% above that low price.
Write to Chip Brian at cbrian@tradethetrend.com
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