NEW YORK (
TheStreet) -- It's another disappointing week for initial public offerings, as all of the companies that came to market so far priced below expectations.
(TRNO - Get Report) are falling 6.5% to $18.70 after the company raised just $175 million selling 8.75 million shares for $20 each.
The industrial real estate investment trust previously delayed its IPO, which was slated for January. At the time, the company expected to raise $300 million selling 15 million shares for $20 apiece.
Piedmont Office Realty Trust
(PDM - Get Report) sold 12 million shares for $14.50 on Wednesday, lower than the 18 million shares it expected to sell for $16 to $18 each.
But shares of the company are rising 4.8% to $15.19 in its trading debut.
cut the size of its IPO in half. It now expects to raise about $175 million by offering 16.7 million shares for $10 to $11. Graham originally expected to raise $350 million by selling 23.3 million shares for between $14 and $16.