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<PAGE>
Exhibit 11
G&L Realty Corp.
Computation of Per Share Earnings
Quarterly Report on Form 10-Q
September 30, 2000
(In thousands, except per share data)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
-------------- -------------
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Net Income (loss) $ 412 $ (4,250) $ 674 $ (1,184)
Less: Preferred Dividends
10.25% Series A Cumulative Preferred (951) (958) (2,853) (2,874)
9.8% Series B Cumulative Preferred (840) (845) (2,521) (2,535)
----------- --------- ----------- ---------
Net loss available to common shareholders $ (1,379) $ (6,053) $ (4,700) $ (6,593)
=========== ========= =========== =========
Options outstanding 251 214 251 214
=========== ========= =========== =========
Weighted average exercise price $ 11.31 $ 14.49 $ 11.31 $ 14.49
=========== ========= =========== =========
Proceeds upon exercise of options $ 2,839 $ 3,101 $ 2,839 $ 3,101
=========== ========= =========== =========
Treasury stock shares 251 205 251 202
=========== ========= =========== =========
Common share equivalents --- 9 --- 12
Average shares outstanding 2,334 3,889 2,394 3,934
----------- --------- ----------- ---------
Total common and common share equivalents 2,334 3,898 2,394 3,946
outstanding =========== ========= =========== =========
Per share earnings data:
------------------------
Basic $ (0.59) $ (1.56) $ (1.96) $ (1.68)
============ ========= =========== =========
Fully diluted $ (0.59) $ (1.56) $ (1.96) $ (1.68)
============ ========= =========== =========
</TABLE>
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