Two REITs Find IPO Climate Welcoming

For the most part, companies going public these days are profitable. American Financial Realty Trust, founded by former Salomon Brothers mortgage trader Lewis Ranieri, appears to be the more popular deal. The company had net income of $3.4 million in the first quarter. Maguire Properties recorded a loss of $1.5 million in the first quarter of this year.

American Financial was lately ahead $1.95, or 16%, to $14.45, while Maguire Properties was rising 11 cents, or 0.5%, to $20.80. The eight other IPOs of this year gained 7.4%, on average, on their first day of trading, according to IPOFinancial.com.