W. P. Carey (NYSE:WPC) major shareholder H Augustus Carey sold 1,083,000 shares of W. P. Carey stock on the open market in a transaction dated Monday, September 9th. The shares were sold at an average price of $65.00, for a total value of $70,395,000.00. Following the completion of the sale, the insider now directly owns 115,252 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on WPC shares. Analysts at BMO Capital Markets initiated coverage on shares of W. P. Carey (NYSE:WPC) in a research note to investors on Wednesday. They set an “outperform” rating and a $74.00 price target on the stock. Separately, analysts at Zacks upgraded shares of W. P. Carey (NYSE:WPC) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, August 1st. They now have a $72.60 price target on the stock. Finally, analysts at Ladenburg Thalmann upgraded shares of W. P. Carey (NYSE:WPC) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, June 19th. They now have a $77.00 price target on the stock, up previously from $71.00.
W. P. Carey (NYSE:WPC) traded up 0.70% during mid-day trading on Wednesday, hitting $66.16. The stock had a trading volume of 278,487 shares. W. P. Carey has a one year low of $43.38 and a one year high of $79.34. The stock has a 50-day moving average of $67.24 and a 200-day moving average of $67.80. The company has a market cap of $4.514 billion and a price-to-earnings ratio of 54.75.
W. P. Carey (NYSE:WPC) last released its earnings data on Tuesday, August 6th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.69. The company had revenue of $103.60 million for the quarter, compared to the consensus estimate of $46.60 million. On average, analysts predict that W. P. Carey will post $2.69 earnings per share for the current fiscal year.
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio.
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