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Shares of Walker & Dunlop stall after IPO debuts

Investors are showing little interest in commercial real estate financier Walker & Dunlop Inc. after the company’s initial public offering debuted at a lower-than-expected price.

The offer of 10 million shares was priced at $10 per share, undercutting the company’s expected range of $14 to $16, and stalled at $9.91 in morning trading.

The Bethesda  company sells commercial real estate loans, particularly for apartment buildings, and services apartment-building mortgages and other commercial real estate financing products.

Walker & Dunlop has said it expects to net up to $89.5 million and that it will use the money to execute its growth strategy, fund working capital needs and for general corporate purposes.

The company trades under the ticker symbol “WD.”