Corporacion Inmobiliaria Vesta (NYSE:VTMX) Reaches New 1-Year High After Better-Than-Expected Earnings

Shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) hit a new 52-week high during 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 traded. The stock had previously closed at $33.62.

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 0.19% and a net margin of 1.83%.The company had revenue of $76.40 million during 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. Investors of record on Friday, January 16th were issued a dividend of $0.2041 per share. This is an increase from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. This represents a yield of 63.0%. The ex-dividend date was Friday, January 16th. Corporacion Inmobiliaria Vesta’s dividend payout ratio is presently 850.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VTMX. Wall Street Zen raised Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Scotiabank downgraded Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. Barclays boosted their price objective on shares of Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Zacks Research lowered shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Finally, UBS Group increased their target price on Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $33.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Centersquare Investment Management LLC lifted its stake 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 during the last quarter. Lazard Asset Management LLC grew 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 worth $8,803,000 after buying an additional 19,967 shares during the last quarter. ABC Arbitrage SA raised its holdings in Corporacion Inmobiliaria Vesta by 252.0% in the 2nd 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 10,236 shares during the period. 6.61% of the stock is owned by institutional investors.

Corporacion Inmobiliaria Vesta Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.97 and a quick ratio of 2.97. The firm has a 50-day simple moving average of $31.77 and a 200 day simple moving average of $29.77. The firm has a market cap of $2.95 billion, a PE ratio of 1,756.40 and a beta of 0.70.

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.