Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. W. P. Carey Inc shares valued at $13,052 were sold by Zander Brian H on Dec 14 ’23. At $65.26 per share, Zander Brian H sold 200 shares. The insider’s holdings dropped to 4,224 shares worth approximately $0.23 million following the completion of this transaction.
Also, ALEXANDER MARK A purchased 1,000 shares, netting a total of over 72,479 in proceeds. Following the buying of shares at $72.48 each, the insider now holds 26,118 shares.
As published in their initiating research note from Barclays on March 27, 2024, W. P. Carey Inc [WPC] has been an Equal weight and the price target has been revised to $40. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of November 13, 2023, JMP Securities has decreased its “Mkt outperform” rating to a “Mkt perform” for WPC. Earlier on September 26, 2023, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for WPC stock which previously was a “an Outperform”.
Analyzing WPC Stock Performance
During the last five days, there has been a drop of approximately -1.20%. Over the course of the year, W. P. Carey Inc shares have dropped approximately -15.23%. Shares of the company reached a 52-week high of $67.40 on 01/12/24 and a 52-week low of $54.40 on 02/26/24. A 50-day SMA is recorded $57.88, while a 200-day SMA reached $61.36. Nevertheless, trading volume fell to 0.85 million shares from 1.03 million shares the previous day.
Support And Resistance Levels for W. P. Carey Inc (WPC)
According to the 24-hour chart, there is a support level at 54.72, which, if violated, would cause prices to drop to 54.50. In the upper region, resistance lies at 55.25. The next price resistance is at 55.57. RSI (Relative Strength Index) is 38.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.43, which suggests the price will decrease in the coming days. Percent R is at 94.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is W. P. Carey Inc subject to short interest?
Stocks of W. P. Carey Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -2.17 million shares to 5.64 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.81 million shares. A decline of -38.48% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) decline to 3.59.
