LSE
Caplease, Inc.NYSE
LSE is defunct.
  • Nov. 5, 2013, 5:57 PM
    • Caplease, Inc. (LSE) declares $0.031/share quarterly dividend.
    • Forward yield 1.45%
    • Payable Nov. 18; for shareholders of record Nov. 4; ex-div Oct. 31.
    | Nov. 5, 2013, 5:57 PM
  • Oct. 14, 2013, 2:59 PM
    • "The Baa3 issuer rating reflects ARCP's portfolio of good quality, well-occupied, freestanding, single-tenant, triple-net leased properties throughout the United States and Puerto Rico," says Moody's, whose analysis incorporates the CapLease (LSE) and ARCT IV mergers and other planned acquisitions.
    • The strengths are offset by the company's high effective leverage, short track record as a publicly traded company, and aggressive growth strategy. ARCP's plan to become internally managed by no later than the end of the year is a "key consideration" in the rating.
    | Oct. 14, 2013, 2:59 PM
  • Sep. 23, 2013, 3:34 PM
    • Total property losses are expected at nearly $2B, with about half housing and the rest from commercial and government sectors.
    • Franklin Street Properties (FSP -0.2%) is the most exposed, with 14.3% of its current portfolio in the affected area, according to SNL Financial. Next is CoreSite Realty (COR), whose two data center assets in the area account for 13.3% of the company's property count. Next is newly public Independence Realty Trust (IRT +2.2%) - which only owns one property there, but it accounts for 12.5% of its portfolio.
    • Others (in order of percentage of portfolio in affected area): RLJ, OFC, DRH, INN, FR, GOV, REG, CHSP, EQR, LSE, LTC, GEO, TCO, AIV, CPT, CWH, EPR, ELS, WRI, MPW, MNR, PSA.
    | Sep. 23, 2013, 3:34 PM
  • Sep. 16, 2013, 10:44 AM
    • Notably lower today is American Realty Capital Properties (ARCP -1.7%) after agreeing to issue via private placement about 21.7M shares of Series D preferred stock with a 5.81% coupon to institutional holders of Series C convertible preferred stock upon the closing of the merger with CapLease (LSE). Other Series C holders will be issued approximately 15.1M shares of common stock. ARCP expects net proceeds to the company from these transactions of about $481M.
    • ARCP also agrees to purchase about 28.4M Series C preferred CVRs for about $25.6M or $0.90 per share - a $1.10 discount to face value.
    • The conversion of the Series C preferred frees up about $445M on the balance sheet for more acquisitions.
    | Sep. 16, 2013, 10:44 AM
  • Sep. 11, 2013, 12:44 PM
    • Caplease, Inc. (LSE) declares $0.0775/share quarterly dividend, in line with previous.
    • Forward yield 3.65%
    • Payable Oct. 15; for shareholders of record Sept. 23; ex-div Sept. 19.
    | Sep. 11, 2013, 12:44 PM
  • Sep. 3, 2013, 7:22 AM
    • The company expects to close on the acquisition of about 150 net lease properties for around $550M in Q3, putting ARCP ahead of its targeted acquisition volume for the period. The properties are 100% occupied with 65% leased to investment grade tenants (bears on ARCP point to the recent increase in lower-credit tenants). The average weighted cap rate is 7.8%.
    • The company continues to expect $1.1B in acquisitions for H2.
    • The CapLease (LSE) acquisition is expected to close ASAP following a shareholder vote on September 10. The previously announced $0.03 dividend hike (to $0.94) will take effect upon the closing.
    | Sep. 3, 2013, 7:22 AM
  • Aug. 6, 2013, 8:55 AM
    • CapLease (LSE): Q2 FFO of $0.14 beats by $0.01.
    • Revenue of $45.12M (+14% Y/Y) beats by $7.22M. (PR)
    | Aug. 6, 2013, 8:55 AM
  • Jul. 8, 2013, 7:45 AM

    American Realty Capital Properties (ARCP) announces its intention to close its purchase of CapLease (LSE) ahead of schedule in Q3. The 40-day "go shop" period just ended without any alternative proposals stepping forward. (PR)

    | Jul. 8, 2013, 7:45 AM
  • Jun. 12, 2013, 5:17 PM
    CapLease (LSE) declares $0.0775/share quarterly dividend, in line with previous. Forward yield 3.64 %. For shareholders of record June 28. Payable July 15.Ex-div date June 26(PR)
    | Jun. 12, 2013, 5:17 PM
  • Jun. 4, 2013, 7:02 AM

    American Capital Realty Properties (ARCP) announces a private sale of about 29.4M shares at $15.47 each (where stock closed last night) and about 28.4M shares of 5.81% convertible preferred. Net proceeds of about $898M will be used mostly to fund recent acquisitions, including the $807M portfolio purchased from GE Capital and the $2.2B buy of CapLease (LSE). (PR)

    | Jun. 4, 2013, 7:02 AM
  • May 29, 2013, 9:23 AM

    SA Pro's Dane Bowler - who penned well-timed bullish calls (I, II) on American Realty Capital Properties (ARCP) and CapLease (LSE)  - gives a thumbs up on yesterday's deal, calling it beneficial for owners of both firms. There exists a non-negligible chance of LSE finding a higher bidder, he says, noting yesterday's $8.55 close vs. the $8.50 buyout price. Look for a more detailed analysis from Bowler soon on SA Pro.

    | May 29, 2013, 9:23 AM | 5 Comments
  • May 28, 2013, 3:38 PM

    More on the American Realty Capital (ARCP +0.7%) purchase of CapLease (LSE +20.8%): The deal continues the trend of consolidation in the net lease sector, says Stifel's Josh Barber, noting ARCP itself is the product of recent merger. ARCP raised its FY13 guidance $0.11 to $1.19/share and will up its dividend $0.03 to $0.94/share after the deal closes. ARCP was recently rebuffed in its effort to purchase Cole Credit Properties Trust III.

    | May 28, 2013, 3:38 PM
  • May 28, 2013, 12:45 PM
    Midday top 10 gainers: VRTB +23%. PIP +21%. LSE +20%. CSIQ +19%. HSOL +18%. HYGS +17%. BLDP +16%. OBCI +13%. SVA +14%. UACL +12%.
    Midday top 10 Losers: ENOC -19%. FSGI -13%. RSOL -12%. OXBT -12%. HGSH -11%. BDL -10%. CLNT -10%. VIPS -9%. RPI -9%. ZIOP -9%.
    | May 28, 2013, 12:45 PM
  • May 28, 2013, 9:38 AM

    American Realty Capital (ARCP +2.8%) announces the purchase of CapLease (LSE +16.3%) in a deal valued at about $2.2B, or $8.50/share in cash. (8-K)

    | May 28, 2013, 9:38 AM | 1 Comment
  • May 8, 2013, 7:07 AM
    Capital Lease Funding (LSE): Q1 FFO of $0.14 in-line. Revenue of $43M (+11% Y/Y) beats by $6.23M. (PR)
    | May 8, 2013, 7:07 AM
  • May 8, 2013, 12:05 AM

    Notable earnings before Wednesday’s open: AOL, ARQL, CTSH, CWH, DTEGY.PK, ENB, EZCH, FSYS, FUN, KRO, LMCA, LSE, MPEL, NAVB, NICE, POZN, SODA, STWD, THI, TTI, VVUS, WEN, WMC

    | May 8, 2013, 12:05 AM