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

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX)’s share price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock 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 (EPS) for the quarter, beating the consensus estimate of $0.80 by $1.21. Corporacion Inmobiliaria Vesta had a net margin of 85.41% and a return on equity of 9.52%. The firm had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $1.29 billion.

Corporacion Inmobiliaria Vesta Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, January 27th. Stockholders of record on Friday, January 16th were given a dividend of $0.2041 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 850.00%.

Analyst Upgrades and Downgrades

VTMX has been the subject of a number of research reports. Scotiabank lowered Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Wednesday, January 21st. Zacks Research downgraded Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Barclays lifted their price objective on shares of Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Corporacion Inmobiliaria Vesta currently has a consensus rating of “Reduce” and an average target price of $33.33.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

Several hedge funds have recently bought and sold shares of the business. ABC Arbitrage SA increased its stake in 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. Lazard Asset Management LLC grew its holdings in shares of Corporacion Inmobiliaria Vesta by 6.6% in the second 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. Centersquare Investment Management LLC increased 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 buying an additional 17,110 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Corporacion Inmobiliaria Vesta by 38.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock worth $1,017,000 after buying an additional 10,236 shares during the period. Institutional investors own 6.61% of the company’s stock.

Corporacion Inmobiliaria Vesta Stock Up 6.9%

The company has a market cap of $3.04 billion, a P/E ratio of 12.90 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.97 and a current ratio of 2.97. The business’s fifty day moving average is $31.87 and its two-hundred day moving average is $29.82.

About Corporacion Inmobiliaria Vesta

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.