Corporacion Inmobiliaria Vesta (NYSE:VTMX) Lowered to Hold Rating by Zacks Research

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

VTMX has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Friday, May 22nd. UBS Group increased their price objective on shares of Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Wall Street Zen lowered shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Barclays lifted 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 report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Corporacion Inmobiliaria Vesta presently has an average rating of “Hold” and a consensus target price of $42.00.

Corporacion Inmobiliaria Vesta Price Performance

Shares of NYSE VTMX opened at $34.70 on Monday. The stock’s 50-day moving average is $34.49 and its two-hundred day moving average is $33.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.66 and a quick ratio of 5.66. Corporacion Inmobiliaria Vesta has a 1-year low of $24.99 and a 1-year high of $37.41. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 3.16 and a beta of 0.64.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.85. Corporacion Inmobiliaria Vesta had a return on equity of 12.23% and a net margin of 111.99%.The business had revenue of $76.75 million during the quarter, compared to analysts’ expectations of $73.32 million. Analysts forecast that Corporacion Inmobiliaria Vesta will post 2.52 EPS for the current fiscal year.

Corporacion Inmobiliaria Vesta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Tuesday, July 14th will be given a $0.1999 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 14th. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is 4.91%.

Insider Activity

In related news, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $3.49, for a total value of $340,233.12. Following the completion of the sale, the chief financial officer directly owned 1,254,120 shares of the company’s stock, valued at $4,376,878.80. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Colmenares Sergio Raul Martin sold 34,239 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $3.42, for a total transaction of $117,097.38. Following the completion of the transaction, the insider owned 1,800 shares of the company’s stock, valued at $6,156. This represents a 95.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,384,697 shares of company stock worth $8,202,933 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Corporacion Inmobiliaria Vesta by 38.1% in the second quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company’s stock valued at $1,017,000 after buying an additional 10,236 shares during the last quarter. ABC Arbitrage SA grew its position in shares of Corporacion Inmobiliaria Vesta by 148.8% during the fourth quarter. ABC Arbitrage SA now owns 144,358 shares of the company’s stock worth $4,401,000 after acquiring an additional 86,328 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings 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 acquiring an additional 19,967 shares during the period. Hedge funds and other institutional investors own 6.61% of the company’s stock.

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.