Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) Sees Significant Drop in Short Interest

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 259,817 shares, a decline of 57.3% from the July 15th total of 608,709 shares. Based on an average daily volume of 108,198 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.3% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, insider Carranza Diego Berho sold 200,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.41, for a total transaction of $682,000.00. Following the completion of the sale, the insider directly owned 1,585,194 shares of the company’s stock, valued at approximately $5,405,511.54. This represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carranza Lorenzo Dominiq Berho sold 64,366 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $3.50, for a total transaction of $225,281.00. Following the sale, the chief executive officer owned 3,993,199 shares in the company, valued at $13,976,196.50. This trade represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,414,085 shares of company stock worth $8,303,647 in the last three months.

Institutional Trading of Corporacion Inmobiliaria Vesta

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in Corporacion Inmobiliaria Vesta by 38.1% during the second quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock worth $1,017,000 after acquiring an additional 10,236 shares in the last quarter. Lazard Asset Management LLC grew its stake in Corporacion Inmobiliaria Vesta by 6.6% in the second quarter. Lazard Asset Management LLC now owns 321,442 shares of the company’s stock valued at $8,803,000 after purchasing an additional 19,967 shares in the last quarter. Finally, ABC Arbitrage SA grew its stake in Corporacion Inmobiliaria Vesta by 148.8% in the fourth quarter. ABC Arbitrage SA now owns 144,358 shares of the company’s stock valued at $4,401,000 after purchasing an additional 86,328 shares in the last quarter. Institutional investors own 6.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on VTMX. Weiss Ratings restated a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a report on Friday, May 22nd. Barclays upped their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen cut Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research downgraded Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. 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 report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Corporacion Inmobiliaria Vesta Stock Up 0.3%

Corporacion Inmobiliaria Vesta stock traded up $0.09 during mid-day trading on Friday, reaching $33.94. The company’s stock had a trading volume of 27,160 shares, compared to its average volume of 83,379. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 3.61 and a beta of 0.64. Corporacion Inmobiliaria Vesta has a 12 month low of $25.59 and a 12 month high of $37.41. The business’s 50 day simple moving average is $34.13 and its 200 day simple moving average is $34.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.26 and a current ratio of 4.26.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $1.09 earnings per share (EPS) for the quarter. Corporacion Inmobiliaria Vesta had a net margin of 132.22% and a return on equity of 14.20%. The firm had revenue of $78.50 million for the quarter. As a group, research analysts anticipate that Corporacion Inmobiliaria Vesta will post 2.82 earnings per share for the current year.

Corporacion Inmobiliaria Vesta Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th were issued a $0.1999 dividend. The ex-dividend date was Tuesday, July 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is presently 14.78%.

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.