This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CapLease Announces Third Quarter 2012 Results

Convertible Senior Notes:

The Company’s only other 2012 debt maturity was the remaining $35 million of its 7.5% convertible senior notes which could be put to the Company by the holders on October 1. We tendered for the notes during September, and $15.8 million of the notes were validly surrendered by the holders and purchased by us and retired on the put date. The remaining approximately $19.2 million of notes remain outstanding and cannot be put to us again for another five years though we may call the debt at any time.

Nine Month Results:

  For the Nine Months

Ended September 30,

(Amounts in thousands, except per share amounts)   2012   2011
Funds from operations   $ 42,048     $ 27,204  
Per Share   $ 0.63     $ 0.42  
Items that affect comparability (income) expense:  
Gain on investments other than real property, net (1,009 ) (648 )
(Gain) loss on extinguishment of debt, net (11,012 ) 3,698
Debt modification costs 916
Property acquisition costs     321       217  
Funds from operations, as adjusted for comparability   $ 31,264     $ 30,471  
Per Share   $ 0.47     $ 0.47  
 

For the nine months ended September 30, 2012, the Company reported total revenues of $120.5 million, compared to total revenues of $123.4 million in the comparable period of 2011. The total revenue decline reflects the impact of the 2011 CDO and other asset sales, offset in part by the growth in the owned property portfolio. Rental revenue was up seven percent for the 2012 period, reflecting the new properties acquired.

4 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs