Corporacion Inmobiliaria Vesta (NYSE:VTMX) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Corporacion Inmobiliaria Vesta (NYSE:VTMX) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

VTMX has been the topic of several other research reports. Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday, October 8th. Barclays lifted their price target on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Scotiabank cut Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, UBS Group raised their price objective on Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $33.33.

Corporacion Inmobiliaria Vesta Stock Performance

NYSE VTMX opened at $31.67 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.97 and a quick ratio of 2.97. Corporacion Inmobiliaria Vesta has a 1-year low of $21.30 and a 1-year high of $32.21. The business has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $28.63. The stock has a market capitalization of $2.68 billion, a PE ratio of 1,583.50, a P/E/G ratio of 4.11 and a beta of 0.70.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.21). Corporacion Inmobiliaria Vesta had a return on equity of 0.19% and a net margin of 1.83%.The firm had revenue of $72.43 million for the quarter, compared to analysts’ expectations of $1.30 billion. On average, research analysts predict that Corporacion Inmobiliaria Vesta will post 2.2 EPS for the current fiscal year.

Institutional Trading of Corporacion Inmobiliaria Vesta

Several hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA boosted its holdings in Corporacion Inmobiliaria Vesta by 252.0% in the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock valued at $5,458,000 after purchasing an additional 142,660 shares during the period. BNP Paribas Financial Markets raised its position in Corporacion Inmobiliaria Vesta by 38.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock valued at $1,017,000 after purchasing an additional 10,236 shares in the last quarter. Lazard Asset Management LLC boosted its stake 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 valued at $8,803,000 after buying an additional 19,967 shares during the period. Finally, Centersquare Investment Management LLC boosted its stake in shares of Corporacion Inmobiliaria Vesta by 4.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 366,102 shares of the company’s stock valued at $10,357,000 after buying an additional 17,110 shares during the period. 6.61% of the stock is currently owned by institutional investors and hedge funds.

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.