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TheStreet Wire

Gramercy Stock Gaps Down On Today's Open (GKK)

By TheStreet Wire 05/09/11 - 11:22 AM EDT

Find out if (GKK) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Shares of Gramercy Capital Corporation (NYSE:GKK) were gapping down Monday morning with an open price 18.5% lower than Friday's closing price. The stock closed at $2.70 Friday and opened today's trading at $2.20.

The average volume for Gramercy has been 791,500 shares per day over the past 30 days. Gramercy has a market cap of $135.8 million and is part of the financial sector and real estate industry. Shares are up 16.9% year to date as of the previous trading day's close.

Operates as a real estate specialty finance company focused on originating and acquiring, for its own account, loans, distressed debt, mortgage backed securities, mezzanine loans and preferred equity interests in entities that own commercial real estate.

TheStreet Ratings rates Gramercy as a sell. Among the areas we feel are negative, one of the most important has been poor debt management on most measures. You can view the full Gramercy Ratings Report.

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