Key Points
- Director Corona Lorenzo Manuel Berho sold 300,000 shares of Corporacion Inmobiliaria Vesta at $3.48 each, totaling about $1.044 million. The sale trimmed his holdings by 1.42%, and he had also sold shares in two earlier transactions that week.
- The company beat quarterly earnings expectations, reporting $1.25 EPS versus the $0.40 consensus estimate and revenue of $76.75 million, above forecasts. Analysts expect Vesta to earn about 2.3 EPS for the full fiscal year.
- Vesta raised its annual dividend to $0.2181 from $0.20, and analysts currently have a Moderate Buy consensus with an average price target of $40.00. Barclays recently lifted its target to $41.00, while several firms upgraded the stock.
Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX - Get Free Report) insider Zamorano Barron Laura Ramirez sold 45,524 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $3.50, for a total transaction of $159,334.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Corporacion Inmobiliaria Vesta Stock Up 0.1%
VTMX stock opened at $34.93 on Friday. The firm has a market cap of $2.95 billion, a PE ratio of 9.03, a P/E/G ratio of 3.45 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.66 and a current ratio of 5.66. The firm's fifty day moving average is $34.62 and its 200 day moving average is $32.94. Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR has a one year low of $24.99 and a one year high of $37.41.
Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) last released its quarterly earnings results on Friday, April 24th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.40 by $0.85. The company had revenue of $76.75 million for the quarter, compared to analyst estimates of $73.32 million. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. On average, research analysts forecast that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.3 EPS for the current year.
Corporacion Inmobiliaria Vesta Increases Dividend
The firm also recently announced an annual dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.2181 per share. This is a positive change from Corporacion Inmobiliaria Vesta's previous annual dividend of $0.20. The ex-dividend date was Tuesday, May 5th. This represents a dividend yield of 61.0%. Corporacion Inmobiliaria Vesta's payout ratio is 4.91%.
Institutional Investors Weigh In On Corporacion Inmobiliaria Vesta
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 10,236 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Corporacion Inmobiliaria Vesta by 4.9% during 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 during the last quarter. Lazard Asset Management LLC boosted its stake in Corporacion Inmobiliaria Vesta by 6.6% during the 2nd quarter. Lazard Asset Management LLC now owns 321,442 shares of the company's stock worth $8,803,000 after purchasing an additional 19,967 shares during the last quarter. Finally, ABC Arbitrage SA boosted its stake in Corporacion Inmobiliaria Vesta by 148.8% during the 4th quarter. ABC Arbitrage SA now owns 144,358 shares of the company's stock worth $4,401,000 after purchasing an additional 86,328 shares during the last quarter. Institutional investors and hedge funds own 6.61% of the company's stock.
Analysts Set New Price Targets
VTMX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Corporacion Inmobiliaria Vesta in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. Zacks Research upgraded shares of Corporacion Inmobiliaria Vesta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Finally, Barclays upped their price target on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.00.
View Our Latest Report on Corporacion Inmobiliaria Vesta
About Corporacion Inmobiliaria Vesta
(
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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.
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