W. P. Carey Inc. (WPC) gets rating Downgrade from BofA Securities

W. P. Carey Inc.’s filing revealed that its Director ALEXANDER MARK A acquired Company’s shares for reported $72479.0 on May 02. In the deal valued at $72.48 per share,1,000 shares were bought. As a result of this transaction, ALEXANDER MARK A now holds 26,118 shares worth roughly $ 1.65 million.

Then, Zander Brian H sold 200 shares, generating $16,812 in total proceeds. Upon selling the shares at $84.14, the Chief Accounting Officer now owns 4,266 shares.

BofA Securities downgraded its W. P. Carey Inc. [WPC] rating to an Underperform from a a Neutral in a research note published on Monday, August 14, 2023; the price target was decreased to $67 from $78. PT values the company’s stock at a premium of 5.81 to its Monday closing price.

Price Performance Review of WPC

On Monday, W. P. Carey Inc. [NYSE:WPC] saw its stock fall -1.51% to $63.11. On the same session, the stock had its day’s lowest price of $63.10, but rose to a high of $64.249. Over the last five days, the stock has lost -0.35%. W. P. Carey Inc. shares have fallen nearly -19.25% since the year began. Nevertheless, the stocks have fallen -24.38% over the past one year. While a 52-week high of $85.94 was reached on 01/30/23, a 52-week low of $62.68 was recorded on 09/12/23. SMA at 50 days reached $66.59, while 200 days put it at $73.99. A total of 1.34 million shares were traded, compared to the trading of 0.9 million shares in the previous session.

Levels Of Support And Resistance For WPC Stock

The 24-hour chart illustrates a support level at 62.72, which if violated will result in even more drops to 62.34. On the upside, there is a resistance level at 63.87. A further resistance level may holdings at 64.64. The Relative Strength Index (RSI) on the 14-day chart is 38.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.98%. Stochastics %K at 32.33% indicates the stock is a holding.

How much short interest is there in W. P. Carey Inc.?

A steep rise in short interest was recorded in W. P. Carey Inc. stocks on Aug 30, 2023, growing by 0.3 million shares to a total of 5.94 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 5.64 million shares. There was a rise of 5.05%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.26% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.15.

W. P. Carey Inc. [WPC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 29,682,629 shares, or roughly 13.88% of the outstanding WPC shares. In other words, the investor’s shares have fallen by -119,752 from its previous 13-F filing of 29802381.0. Additionally, BlackRock Fund Advisors increased 1.72% of its stake after which the total value it holdings stand at $696,406,696, while SSgA Funds Management, Inc. reduced -1.38% of its stake to hold $656.19 million in the firm. Over the last quarter, JPMorgan Investment Management, I sold -339,698 shares of W. P. Carey Inc., while Geode Capital Management LLC sold 127,177 shares. At present, Dimensional Fund Advisors LP is holding 2,914,341 shares valued at $189.58 million. Legal & General Investment Manage owned 2,385,395 shares of the company at the time of its most recent 13F filing, worth $155.17 million.

According to FactSet, W. P. Carey Inc.’s share price will average $74.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.82 percent from its previous closing price of $64.08. Analysts expect W. P. Carey Inc. stock to reach the higher price of $82.00, while the lowest price estimate is $67.00. However, 11 analysts have rated WPC stock as an Overweight in their predictions for 2023.