Corporacion Inmobiliaria Vesta (NYSE:VTMX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Corporacion Inmobiliaria Vesta (NYSE:VTMX) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

VTMX has been the topic of several other research reports. Weiss Ratings raised Corporacion Inmobiliaria Vesta from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Barclays increased their target price on Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Corporacion Inmobiliaria Vesta Stock Performance

Shares of Corporacion Inmobiliaria Vesta stock opened at $34.60 on Tuesday. The company has a market capitalization of $2.93 billion, a PE ratio of 8.94, a PEG ratio of 3.37 and a beta of 0.67. Corporacion Inmobiliaria Vesta has a 12 month low of $24.99 and a 12 month high of $37.41. 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 stock’s fifty day simple moving average is $34.38 and its 200 day simple moving average is $32.76.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last issued its quarterly earnings data on Friday, April 24th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.40 by $0.85. The business had revenue of $76.75 million for the quarter, compared to the consensus estimate of $73.32 million. Corporacion Inmobiliaria Vesta had a return on equity of 12.23% and a net margin of 111.99%. On average, research analysts predict that Corporacion Inmobiliaria Vesta will post 2.3 EPS for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.2181 per share. This is a boost from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. The ex-dividend date was Tuesday, May 5th. This represents a yield of 61.0%. Corporacion Inmobiliaria Vesta’s dividend payout ratio is currently 4.65%.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in Corporacion Inmobiliaria Vesta by 38.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock worth $1,017,000 after purchasing an additional 10,236 shares in the last quarter. Centersquare Investment Management LLC increased 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 purchasing an additional 17,110 shares in the last quarter. Lazard Asset Management LLC increased 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 purchasing an additional 19,967 shares in the last quarter. Finally, ABC Arbitrage SA increased its holdings in Corporacion Inmobiliaria Vesta by 148.8% during 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 in the last quarter. Institutional investors own 6.61% of the company’s stock.

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.