Excel Trust IPO prices at bottom of cut range-underwriter

NEW YORK, April 22 (Reuters) - Real estate investment trust Excel Trust Inc (EXL.N) priced shares in its initial public offering at the bottom of a lowered range on Thursday, according to an underwriter.

San Diego, Calif-based Excel sold 15 million shares for $14 each, raising about $210 million. It planned to sell 15 million shares for $14 to $15 each.

The company delayed the pricing of its IPO to Thursday from Wednesday and cut the expected price range from $16 to $18 a share earlier on Thursday. (Reporting by Clare Baldwin; editing by Carol Bishopric)