Key Developments: CapLease Inc (LSE)
7.55USD
20 May 2013
$-0.02 (-0.26%)
$7.57
$7.54
$7.63
$7.46
372,865
807,868
$7.72
$3.85
Latest Key Developments (Source: Significant Developments)
Caplease Inc Reaffirms FY 2013 FFO Guidance
Caplease Inc announced that it expects fiscal 2013 FFO to be in the range of $0.55 to $0.60 per share, and earnings per share (EPS) to be in the range of $(0.07) to $(0.03). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $0.57 for fiscal 2013. Full Article
Caplease Inc Agrees to Acquire Office Property
Caplease Inc announced that it has entered into a binding contract to acquire a Class A office building in a major market in the Northeastern United States for a purchase price of approximately $50 million. The property is leased to an investment grade tenant for an approximately 9.5 year remaining lease term, and the Company`s average capitalization rate for the property will be over 8%. The acquisition is scheduled to close during the second quarter of 2013, although closing is subject to customary closing conditions and, therefore, no assurance can be given that CapLease will complete such transaction on the agreed upon terms or at all. Full Article
Caplease Inc Prices And Upsizes Common Stock Offering
Caplease Inc announced that it has priced previously announced common stock offering. The offering was priced at $5.97 per share and consisted of 7,500,000 shares of common stock. The offering was increased by 1,000,000 shares from the originally announced offering of 6,500,000 shares. CapLease has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock to cover over-allotments, if any. CapLease expects the offering to close on April 9, 2013. CapLease intends to use the net proceeds of the offering for general corporate purposes, which is expected to primarily include funding real property acquisitions in pipeline. Wells Fargo Securities is the sole book-running manager of the offering. JMP Securities and Stifel are the co-managers for the offering. Full Article
Caplease Inc Announces Public Offering of Common Stock
Caplease Inc announced the commencement of a public offering of 6,500,000 shares of its common stock. CapLease intends to use the net proceeds of the offering for general corporate purposes, which is expected to primarily include funding real property acquisitions in its pipeline. CapLease intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 975,000 shares of its common stock to cover over-allotments, if any. Wells Fargo Securities is the sole book-running manager of the offering. Full Article
Caplease Inc Announces Dividend Increase
Caplease Inc announced an increase in the Company’s quarterly dividend by 3% beginning with the first quarter of 2013 to $0.0775 per share. The Company’s Board of Directors also declared a cash dividend of $0.5078125 per share of 8.125% Series A Cumulative Redeemable Preferred Stock, a cash dividend of $0.5234375 per share of 8.375% Series B Cumulative Redeemable Preferred Stock, and a cash dividend of $$0.4027778 per share of 7.25% Series C Cumulative Redeemable Preferred Stock, all for the first quarter of 2013. The first quarter 2013 common and preferred dividends are payable on April 15, 2013 to stockholders of record as of April 4, 2013. Full Article
Caplease Inc Issues FY 2013 FFO Guidance Below Analysts' Estimates
Caplease Inc announced that it expects fiscal 2013 FFO to be in the range of $0.55 to $0.60 per share, and earnings per share (EPS) to be in the range of $(0.07) to $(0.03). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $0.61 for fiscal 2013. Full Article
Caplease Inc Announces Pricing Of 7.25% Series C Preferred Stock
Caplease Inc announced that it has priced an underwritten public offering of 850,000 shares of its new 7.25% Series C Cumulative Redeemable Preferred Stock, at a public offering price of $23.75 per share, for gross proceeds of approximately $20 million. The offering, which was significantly oversubscribed, is expected to close on January 25, 2013, subject to customary closing conditions. CapLease has filed an application to list the Series C Preferred Stock on the New York Stock Exchange under the symbol LSEPrC. If that application is approved, trading of the Series C Preferred Stock on the New York Stock Exchange is expected to begin within 30 days after the date of initial issuance of the Series C Preferred Stock. CapLease intends to use the net proceeds from the offering for general corporate purposes, which are expected to primarily include repurchase or redemption of its issued and outstanding 8.125% Series A Preferred Stock. Full Article
Caplease Inc Announces Public Offering Of New Series C Preferred Stock
Caplease Inc announced the commencement of an initial public offering of a new 7.25% Series C Preferred Stock. CapLease intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol LSEPrC. MLV & Co. LLC and JMP Securities LLC are acting as underwriters to offer and sell the Series C Preferred Stock. CapLease intends to use the net proceeds of the offering for general corporate purposes, which are expected to primarily include repurchase or redemption of Series A preferred stock. MLV & Co. LLC is acting as sole book-runner for the offering, and JMP Securities LLC is acting as lead manager for the offering. Full Article
Caplease Inc Closes $18.1 Million Acquisition Of Class A Office Building
Caplease Inc announced that it closed in December 2012, the previously announced acquisition of an $18.1 million office building, located in San Antonio, Texas. Inclusive of this purchase, the Company's 2012 acquisition volume exceeds $185 million. Full Article
Caplease Inc Enters Into Binding Contract To Acquire Office Building
Caplease Inc announced that it that it has entered into a binding contract to acquire a Class A office building located in the South Central United States for a total purchase price of $18.1 million. The Company's average capitalization rate for the property will be about 9%. The Company also announced that it has now closed on the previously announced acquisition of two adjacent single tenant office properties located in Englewood, Colorado outside of Denver for a total purchase price of $26.1 million. One property is an approximately 61,000 square foot single story office building leased to Comcast Corporation for a term scheduled to mature in December 2020. The other property is an approximately 95,000 square foot three story office building leased to Pulte Mortgage LLC, as its corporate headquarters. The Pulte lease is scheduled to mature in March 2020. The Company's average capitalization rate across the two properties is approximately 9.1%. In addition, the Company announced that it has obtained long-term financing of the approximately 145,000 square foot Class A office building located in the Energy Corridor of Houston, Texas which was purchased earlier this month for $35.5 million. CapLease secured a $19.5 million first mortgage loan, which equates to a 55% ratio of the loan principal to the Company's purchase price. Full Article
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