The lackluster public debuts of REITs today - including Tom Barrack's Colony Financial (CLNY) -...

|About: Colony Capital, Inc. (CLNY)|By:, SA News Editor

The lackluster public debuts of REITs today - including Tom Barrack's Colony Financial (CLNY) - may be due to a simple reason: There's a glut of similarly structured vulture funds looking for money. And most new REITs are opening below offering price, as an analyst says: "If you know it’s going to trade down, why buy in the IPO?"