Two companies for whom rising interest rates could crimp business -- real estate investment trust Gladstone Commercial (GOOD) - Get Report and regional bank Texas Capital Bancshares (TCBI) - Get Report -- made their public debut Wednesday.

Perhaps not coincidently, both of the new issues got a mild reception on their first days of trading.

Gladstone Commercial rose 3 cents, or 0.2%, to $15.03, while Texas Capital -- which postponed its offering in October, citing uncertain market conditions -- closed up 99 cents, or 9%, to $11.99. The performances trailed average debut gains of 14.9% for IPOs this year, according to

Dealogic

.

"Both of the stocks are exposed to a changing interest rate environment," said Paul Bard, an analyst at Renaissance Capital's

IPOHome.com

, who has followed the Texas Capital deal more closely.

"Higher interest rates could put pressure on

TST Recommends

Texas Capital's earnings and growth," he said.

The weakness in Wednesday's showings could also be attributed to deal specifics, according to experts.

David Menlow, an analyst at

IPOFinancial.com

, raised concern about the recent track record of Gladstone Commercial's underwriter, Washington-based Ferris Baker Watts.

"Ferris Baker Watts will no doubt be partially judged by the last deal they did one year ago,

Windrose Medical

(WRS)

," he wrote in a pre-opening research note Wednesday. "It's not the end of the world, but this stock has the distinction of being one of four IPOs to price in the last 52 weeks to still be below its IPO price."