>>Gramercy Capital Corporation (GKK) is an interesting stock that should offer investors a limited downside, due to its strong cash position, while potentially representing, on the upside, a kind of an "option" on the turnaround of commercial real estate property in the USA.Some lateral thinking, however, rather than a more classical investing approach, may be necessary/useful to understand why the company, in spite of its recent near-death experience, can belong to the "value investing" category, although some risks that could derail the happy ending still exist. Patience may also be required, as the story doesn't really seem close to get a catalyst.
There are several interesting articles about this stock on the Internet that we suggest you should read, including Plan Maestro's analysis, available also here on Seeking Alpha (I, II), as well as a recent post by Laminar Capital Management - we'll try to add to this commentary our view and an update to the most recent Q4 2011 results.
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