The stock of W.P. Carey Inc. REIT (NYSE:WPC) gapped down by $0.13 today and has $59.98 target or 6.00% below today’s $63.81 share price. The 5 months technical chart setup indicates high risk for the $7.09B company. The gap down was reported on Oct, 4 by Barchart.com. If the $59.98 price target is reached, the company will be worth $425.40 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.12% or $0.72 on October 3, hitting $63.81. W.P. Carey Inc. REIT (NYSE:WPC) has risen 8.97% since March 1, 2016 and is uptrending. It has underperformed by 3.25% the S&P500.
Analysts await W.P. Carey Inc. REIT (NYSE:WPC) to report earnings on November, 1. They expect $1.17 EPS, down 1.68% or $0.02 from last year’s $1.19 per share. WPC’s profit will be $130.00 million for 13.63 P/E if the $1.17 EPS becomes a reality. After $1.24 actual EPS reported by W.P. Carey Inc. REIT for the previous quarter, Wall Street now forecasts -5.65% negative EPS growth.
W.P. Carey Inc. REIT (NYSE:WPC) Ratings Coverage
Out of 5 analysts covering WP Carey & Co LLC (NYSE:WPC), 1 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 20% are positive. WP Carey & Co LLC has been the topic of 7 analyst reports since August 5, 2015 according to StockzIntelligence Inc. BMO Capital Markets downgraded the stock to “Market Perform” rating in Wednesday, August 5 report. Ladenburg Thalmann downgraded W.P. Carey Inc. REIT (NYSE:WPC) on Thursday, February 11 to “Neutral” rating. The rating was downgraded by Citigroup to “Sell” on Friday, December 11. The company was downgraded on Thursday, February 11 by Capital One. The rating was upgraded by Zacks on Wednesday, August 26 to “Hold”.
According to Zacks Investment Research, “W. P. Carey Inc. is a real estate investment trust engaged in providing long-term sale-leaseback and build-to-suit financing for companies. The firm primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. W. P. Carey Inc., formerly known as W. P. Carey & Co. LLC, is based in New York.”
Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.08, from 1.31 in 2016Q1. The ratio increased, as 22 funds sold all W.P. Carey Inc. REIT shares owned while 87 reduced positions. 40 funds bought stakes while 111 increased positions. They now own 48.33 million shares or 2.47% more from 47.16 million shares in 2016Q1.
Martingale Asset Mngmt Ltd Partnership owns 330,197 shares or 0.38% of their US portfolio. Stevens L P has 29,252 shares for 0.08% of their US portfolio. Cannell Peter B & Com Incorporated has 0.12% invested in the company for 48,925 shares. Manufacturers Life Ins Co The accumulated 7,076 shares or 0% of the stock. Moreover, Employees Retirement System Of Texas has 0.02% invested in W.P. Carey Inc. REIT (NYSE:WPC) for 26,000 shares. Fisher Asset Mgmt Ltd last reported 4,973 shares in the company. Moreover, Lazard Asset Limited Liability Corp has 0% invested in W.P. Carey Inc. REIT (NYSE:WPC) for 3,200 shares. Tradewinds Cap Limited Liability has invested 0% of its portfolio in W.P. Carey Inc. REIT (NYSE:WPC). Citadel Ltd Com accumulated 0% or 63,319 shares. Natl Bank Of Montreal Can last reported 8,331 shares in the company. Oakworth Capital holds 501 shares or 0.01% of its portfolio. Evercore Wealth Mgmt Ltd Com holds 0% or 1,000 shares in its portfolio. Hsbc Public Ltd Company holds 14,939 shares or 0% of its portfolio. Moreover, Pnc Gru has 0% invested in W.P. Carey Inc. REIT (NYSE:WPC) for 52,920 shares. First Fincl In, a Indiana-based fund reported 200 shares.
Insider Transactions: Since May 9, 2016, the stock had 1 insider purchase, and 1 sale for $39,703 net activity. 1,000 shares with value of $63,080 were bought by VanDeWeghe Mary M on Monday, May 9. $23,377 worth of W.P. Carey Inc. REIT (NYSE:WPC) was sold by COOLIDGE NATHANIEL S.
More notable recent W.P. Carey Inc. REIT (NYSE:WPC) news were published by: Seekingalpha.com which released: “REIT Focus: W.P. Carey, Inc.” on June 15, 2016, also Fool.com with their article: “3 Reasons Why High-Yielding REIT WP Carey Inc Is a Buy” published on July 07, 2014, Marketwatch.com published: “WP Carey upgraded to outperform from market perform at BMO Capital” on December 21, 2009. More interesting news about W.P. Carey Inc. REIT (NYSE:WPC) were released by: Prnewswire.com and their article: “W. P. Carey Inc. Announces Election of Peter J. Farrell to Board of Directors” published on June 22, 2016 as well as Seekingalpha.com‘s news article titled: “Investing For The Long Run” with publication date: September 26, 2016.
WPC Company Profile
W.P. Carey Inc. (W.P. Carey), incorporated on February 15, 2012, is a self-managed diversified real estate investment trust (REIT). The Firm is an owner and manager of commercial real estate, primarily net leased to companies on a long-term basis. It operates through two divisions: Real Estate Ownership and Investment Management. The Firm owns and manages a diversified global investment portfolio of approximately 1,340 properties, including over 870 net-leased properties and three operating properties within its owned real estate portfolio. The Company’s portfolio consists of interest in over two hotels and one self-storage property. The Firm also acts as an advisor to a series of income-oriented non-traded real estate investment trusts, through its investment management business.
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