Corporacion Inmobiliaria Vesta (NYSE:VTMX) Releases Earnings Results, Beats Estimates By $0.63 EPS

Corporacion Inmobiliaria Vesta (NYSE:VTMX) announced its quarterly earnings results on Wednesday. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.63, FiscalAI reports. The firm had revenue of $78.50 million for the quarter, compared to the consensus estimate of $77.05 million. Corporacion Inmobiliaria Vesta had a return on equity of 12.23% and a net margin of 111.99%.

Corporacion Inmobiliaria Vesta Price Performance

Shares of Corporacion Inmobiliaria Vesta stock traded up $0.33 during trading on Wednesday, reaching $34.12. 249,438 shares of the company’s stock were exchanged, compared to its average volume of 88,017. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.66 and a current ratio of 5.66. Corporacion Inmobiliaria Vesta has a 1-year low of $25.28 and a 1-year high of $37.41. The company has a market cap of $2.89 billion, a P/E ratio of 8.82, a PEG ratio of 3.09 and a beta of 0.64. The firm’s 50-day moving average price is $34.23 and its 200 day moving average price is $33.81.

Corporacion Inmobiliaria Vesta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th will be paid a $0.1999 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is presently 17.57%.

Wall Street Analysts Forecast Growth

VTMX has been the topic of several research reports. Zacks Research downgraded shares of Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group increased their target price on Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Friday, May 22nd. Wall Street Zen cut shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Barclays increased their price objective 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.00.

Insiders Place Their Bets

In other Corporacion Inmobiliaria Vesta news, insider Carranza Diego Berho sold 10,000 shares of Corporacion Inmobiliaria Vesta stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.44, for a total value of $34,400.00. Following the transaction, the insider owned 1,835,194 shares in the company, valued at $6,313,067.36. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $3.49, for a total value of $340,233.12. Following the transaction, the chief financial officer directly owned 1,254,120 shares of the company’s stock, valued at approximately $4,376,878.80. The trade was a 7.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,384,697 shares of company stock valued at $8,202,933 over the last ninety days.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

An institutional investor recently raised its stake in Corporacion Inmobiliaria Vesta stock. BNP Paribas Financial Markets increased its stake in shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) by 38.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,116 shares of the company’s stock after purchasing an additional 10,236 shares during the quarter. BNP Paribas Financial Markets’ holdings in Corporacion Inmobiliaria Vesta were worth $1,017,000 at the end of the most recent reporting period. 6.61% of the stock is owned by hedge funds and other institutional investors.

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.