Keefe Bruyette & Woods Comments On Caplease Following Recent Earnings Release

Caplease LSE reported Q1 FFO/share of $0.17, $0.01 above Keefe Bruyette & Woods estimate & consensus. Upside from G&A, KBW is raising full year estimates for the beat. Caplease has had its second significant acquisition since '07 under contract; potential pipeline growing. It kept 2011 guidance of $0.65-$0.70. LSE has another steady quarter, with acquisition activity showing a modest pick-up - a positive development. Keefe Bruyette & Woods price target for CapLease is subject to risks and uncertainties including, but not limited to, interest rates, tenant credit risks and capital needs to fund growth. KBW has a $6 PT and Market Perform rating on Caplease LSE is trading lower at $5.29