Corporacion Inmobiliaria Vesta (NYSE:VTMX) Sets New 1-Year High – Here’s What Happened

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) shares reached a new 52-week high on Thursday . The company traded as high as $37.41 and last traded at $36.6580, with a volume of 168313 shares trading hands. The stock had previously closed at $36.82.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VTMX shares. Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Barclays increased their price objective on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Zacks Research lowered Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Scotiabank cut Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings upgraded Corporacion Inmobiliaria Vesta from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.33.

Corporacion Inmobiliaria Vesta Stock Down 0.4%

The stock has a market capitalization of $3.10 billion, a P/E ratio of 13.14 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.84 and a quick ratio of 2.97. The stock has a fifty day moving average price of $32.22 and a 200 day moving average price of $30.00.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last released its quarterly earnings data on Thursday, February 19th. The company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $1.21. Corporacion Inmobiliaria Vesta had a return on equity of 9.33% and a net margin of 85.41%.The company had revenue of $76.40 million for the quarter, compared to analyst estimates of $1.29 billion. On average, research analysts forecast that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.2 earnings per share for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, January 27th. Stockholders of record on Friday, January 16th were issued a $0.2041 dividend. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. This represents a dividend yield of 63.0%. Corporacion Inmobiliaria Vesta’s payout ratio is currently 6.09%.

Institutional Trading of Corporacion Inmobiliaria Vesta

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Centersquare Investment Management LLC lifted its stake in Corporacion Inmobiliaria Vesta by 4.9% in the 3rd 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. Lazard Asset Management LLC grew its position in shares of Corporacion Inmobiliaria Vesta by 6.6% during 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 in the last quarter. ABC Arbitrage SA increased its holdings in shares of Corporacion Inmobiliaria Vesta by 252.0% in the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock worth $5,458,000 after purchasing an additional 142,660 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Corporacion Inmobiliaria Vesta by 38.1% in the second quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock worth $1,017,000 after purchasing an additional 10,236 shares during the period. Institutional investors own 6.61% of the company’s stock.

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.