CBRE, a global commercial real estate firm, is expected to report its third quarter earnings on Thursday, before the markets open.

Analysts estimate the company’s earnings to be 36 cents per share, the same figure it was last quarter. On the other hand, the company’s adjusted earnings per share is expected to be 50 cents according to analyst estimates, lower than last quarter’s adjusted earnings per share which was 52 cents. However, during the same period last year, the company’s earnings per share was 51 cents per share.

CBRE is expected to post revenue of  $3.14 billion, a 15.7 percent increase from $2.71 billion during the third quarter of last year. However, if this holds true, it will be a slip from last quarter’s figures, which were $3.21 billion.

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The commercial real estate market as a whole is sluggish right now, and that could weaken CBRE’s third quarter results. A semi-annual forecast about real estate markets in the U.S. released by Urban Land Institute estimates a gradual decline in transaction volume through 2018 due to drop in demand. Despite this, transaction volume remains relatively high—surpassed only by that in 2007 and 2014.

The issuance of commercial-backed mortgage securities, which is how real estate projects are largely financed, is also expected to decline this year according to the report.

Keefe, Bruyette and Woods, an investment banking firm, expects CBRE to market perform during the third quarter, with a 2.5 percent year-over-year growth in US sales revenue. The company’s transaction volumes seem to be doing better than expected given the marketplace, Jade Rahmani of KBW told Investment Journal. But the firm didn’t raise its estimates for the company.

This speaks to CBRE’s business model instead of a focus on this quarter. It is too diverse to change estimates based on one number. The Los Angeles-based firm caters to markets around the globe and is involved in a range of real estate activities. It offers market trend analysis and sources finances for large real estate projects. It is also provides services in sales and leasing for hotels, offices, retail spaces, healthcare facilities and other properties.

 “On one side of the equation is fundamental supply and demand within commercial real estate.    That affects CBRE’s businesses involved in leasing, property management, and corporate outsourcing,” Rahmani said. “On the other side of the equation is asset pricing and transaction volumes, which impacts CBRE’s capital markets businesses which include property sales, debt placement and its investment management business.”

That said, CBRE entered the “oversold” territory last Monday when its price dipped to $26.37 per share, as Forbes first reported. This wasn’t a surprise because even insider activity had been abuzz. In September, Michael Lafitte, CBRE’s global group president of business and client care, sold roughly 7 percent of his shares for a total of $747,725, leaving him with 338,053 shares,  according to public records.

CBRE’s stock opened at $27.91 today, a day ahead of the third quarter report, and has already seen a 0.04 percent rise since then.