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GMH Communities Trust (GCT Quote) gained Tuesday on Monday's news that the Newtown Square, Pa.-based housing company named a new chief financial officer.
Patrick O'Grady, who is currently a partner with KPMG LLP, is expected to join the company on July 1, replacing Dennis J. O'Leary, the interim CFO. Also, GMH released estimated unaudited results for 2005. The company said its annual report will be delayed while management continues to finalize the 2005 financial statements and Ernst & Young performs additional audits.
The company said it will delay filing first-quarter results until the 2005 report is finished, but it expects to file its quarterly report on June 30. It estimates revenue at roughly $227.6 million and income around $6.2 million. Earnings are estimated to be 18 cents a share. Funds from operations, a common performance metric used by real estate investment trusts, are estimated at 69 cents a share. Shares gained 42 cents, or 3.7%, to $11.80 in recent trading. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
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