Corporacion Inmobiliaria Vesta (NYSE:VTMX) Reaches New 52-Week High Following Better-Than-Expected Earnings

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX)’s stock price reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $34.49 and last traded at $35.0650, with a volume of 1593 shares trading hands. The stock had previously closed at $33.62.

The company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $1.21. The company had revenue of $76.40 million during the quarter, compared to analyst estimates of $1.29 billion. Corporacion Inmobiliaria Vesta had a net margin of 1.83% and a return on equity of 0.19%.

Corporacion Inmobiliaria Vesta Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, January 27th. Investors of record on Friday, January 16th were paid a dividend of $0.2041 per share. This is a boost from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. The ex-dividend date was Friday, January 16th. This represents a dividend yield of 63.0%. Corporacion Inmobiliaria Vesta’s dividend payout ratio is presently 850.00%.

Analysts Set New Price Targets

A number of research firms recently commented on VTMX. UBS Group boosted their target price on Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Wednesday, January 21st. Barclays raised their price objective on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Scotiabank cut shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Zacks Research downgraded shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $33.33.

Institutional Trading of Corporacion Inmobiliaria Vesta

Hedge funds have recently made changes to their positions in the company. ABC Arbitrage SA lifted its position in Corporacion Inmobiliaria Vesta by 252.0% in the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock valued at $5,458,000 after buying an additional 142,660 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Corporacion Inmobiliaria Vesta by 6.6% in the 2nd quarter. Lazard Asset Management LLC now owns 321,442 shares of the company’s stock valued at $8,803,000 after purchasing an additional 19,967 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Corporacion Inmobiliaria Vesta by 38.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock worth $1,017,000 after acquiring an additional 10,236 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Corporacion Inmobiliaria Vesta by 4.9% during the third quarter. Centersquare Investment Management LLC now owns 366,102 shares of the company’s stock worth $10,357,000 after purchasing an additional 17,110 shares in the last quarter. Hedge funds and other institutional investors own 6.61% of the company’s stock.

Corporacion Inmobiliaria Vesta Stock Performance

The firm has a fifty day simple moving average of $31.77 and a 200-day simple moving average of $29.77. The company has a market cap of $2.95 billion, a PE ratio of 1,756.40 and a beta of 0.70. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.50.

Corporacion Inmobiliaria Vesta Company Profile

Corporación Inmobiliaria Vesta, trading as VTMX on the New York Stock Exchange, is a Mexico-based real estate investment trust (REIT) specializing in the development, acquisition and management of industrial properties. The company’s portfolio primarily consists of warehouses, distribution centers and manufacturing facilities tailored to multinational corporations, logistics operators and other businesses seeking modern, well-connected industrial space in Mexico.

Vesta’s core business activities include the design and construction of build-to-suit projects, the leasing of speculative and multi-tenant properties, and sale-leaseback transactions that convert existing facilities into long-term lease arrangements.