Corporacion Inmobiliaria Vesta (NYSE:VTMX) Releases Earnings Results, Beats Expectations By $0.59 EPS

Corporacion Inmobiliaria Vesta (NYSE:VTMX) announced its earnings results on Wednesday. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.59, Zacks reports. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. The company had revenue of $78.50 million during the quarter, compared to analysts’ expectations of $77.05 million.

Corporacion Inmobiliaria Vesta Price Performance

Corporacion Inmobiliaria Vesta stock opened at $34.12 on Thursday. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.89 billion, a PE ratio of 8.82, a P/E/G ratio of 3.05 and a beta of 0.64. Corporacion Inmobiliaria Vesta has a 12 month low of $25.28 and a 12 month high of $37.41. The stock has a 50-day moving average price of $34.22 and a two-hundred day moving average price of $33.83.

Corporacion Inmobiliaria Vesta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Tuesday, July 14th were issued a $0.1999 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, July 14th. Corporacion Inmobiliaria Vesta’s dividend payout ratio is presently 17.57%.

Analyst Ratings Changes

Several analysts have weighed in on VTMX shares. Zacks Research cut shares of Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen lowered shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Barclays raised their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Friday, May 22nd. Finally, UBS Group boosted their price target on Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Corporacion Inmobiliaria Vesta currently has a consensus rating of “Hold” and an average price target of $42.00.

Insider Activity at Corporacion Inmobiliaria Vesta

In other news, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $3.49, for a total value of $340,233.12. Following the completion of the transaction, the chief financial officer owned 1,254,120 shares of the company’s stock, valued at $4,376,878.80. This represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Colmenares Sergio Raul Martin sold 34,239 shares of Corporacion Inmobiliaria Vesta stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $3.42, for a total transaction of $117,097.38. Following the sale, the insider owned 1,800 shares in the company, valued at approximately $6,156. This represents a 95.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,384,697 shares of company stock valued at $8,202,933.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

An institutional investor recently raised its stake in Corporacion Inmobiliaria Vesta stock. Lazard Asset Management LLC raised its stake in shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 321,442 shares of the company’s stock after purchasing an additional 19,967 shares during the period. Lazard Asset Management LLC’s holdings in Corporacion Inmobiliaria Vesta were worth $8,803,000 at the end of the most recent 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.