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$0.90 0.05 (5.88%)
11/21/2008 12:46 PM

Gramercy Capital Corp. (GKK)

CAPS Rating:
***

A commercial real estate finance company that focuses on the direct origination and acquisition of whole loans, subordinate interests in whole loans, mezzanine loans, preferred equity, and net lease investments throughout the U.S.

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1

Avatar Cicciano (< 20) Submitted: 8/22/08 10:03 AM : Outperform Start Price: $6.11 GKK Score: -44.87

This stock isn't very transparent, and one reason that it has been beaten down so hard is that nobody really knows how much more risk is built into its portfolio. But we are talking commercial real estate, not residential, so its has been beaten down a bit more than deserved. Don't look for this to be a short term winner, but as the smoke clears, look for Gramercy to rise up to the low teens, where I believe its fair value lies.

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