Corporacion Inmobiliaria Vesta (NYSE:VTMX) Upgraded at Zacks Research

Zacks Research upgraded shares of Corporacion Inmobiliaria Vesta (NYSE:VTMX) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

VTMX has been the subject of a number of other research reports. UBS Group increased their target price on shares of Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen cut shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Scotiabank lowered shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a report on Wednesday, December 10th. Barclays lifted their target price on shares of Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings upgraded Corporacion Inmobiliaria Vesta from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Corporacion Inmobiliaria Vesta currently has a consensus rating of “Hold” and a consensus price target of $33.33.

Corporacion Inmobiliaria Vesta Stock Performance

Shares of NYSE:VTMX opened at $33.03 on Monday. The business’s fifty day moving average price is $32.87 and its two-hundred day moving average price is $30.41. Corporacion Inmobiliaria Vesta has a fifty-two week low of $21.30 and a fifty-two week high of $37.41. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 11.84 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.84 and a quick ratio of 2.97.

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, topping the consensus estimate 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 firm had revenue of $76.40 million during the quarter, compared to analyst estimates of $1.29 billion. As a group, analysts predict that Corporacion Inmobiliaria Vesta will post 2.2 EPS for the current fiscal year.

Corporacion Inmobiliaria Vesta Increases Dividend

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

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of Corporacion Inmobiliaria Vesta by 38.1% during the second quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock valued at $1,017,000 after purchasing an additional 10,236 shares during the last quarter. ABC Arbitrage SA raised its position in Corporacion Inmobiliaria Vesta by 148.8% in 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. Lazard Asset Management LLC lifted its holdings 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 buying an additional 19,967 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings 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 buying an additional 17,110 shares in the last quarter. 6.61% of the stock is currently owned by institutional investors and hedge funds.

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.