KeyBanc Upgrades CapLease (LSE) to Buy, Story De-Risked

September 20, 2012 8:53 AM EDT
Get Alerts LSE Hot Sheet
Price: $8.53 --0%

Rating Summary:
    2 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc upgraded CapLease (NYSE: LSE) from Hold to Buy with a price target of $6.50.

The firm comments, "LSE has significantly de-risked the story over the past 18 months (i.e., reduced leverage and simplified the structure with the sale of the CDO business) and has shifted from offense to defense. The Company has sourced accretive deals that are focused more on long-term real estate values while trying to maintain an investment grade tenant roster. In addition, the recent pricing on the Realty Income/American Realty Capital merger (i.e., 5.9% cap rate) highlighted the downward trajectory of cap rates for triple-net assets with credit tenants and remaining term."

For an analyst ratings summary and ratings history on CapLease click here. For more ratings news on CapLease click here.

Shares of CapLease closed at $5.20 yesterday.

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