Corporacion Inmobiliaria Vesta (NYSE:VTMX) Sees Strong Trading Volume – Here’s What Happened

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) saw strong trading volume on Thursday . 404,063 shares were traded during trading, an increase of 467% from the previous session’s volume of 71,287 shares.The stock last traded at $34.11 and had previously closed at $34.49.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Corporacion Inmobiliaria Vesta from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised shares of Corporacion Inmobiliaria Vesta from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Barclays boosted their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the company 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.00.

Corporacion Inmobiliaria Vesta Trading Down 1.3%

The stock’s 50 day moving average is $34.31 and its two-hundred day moving average is $32.65. The company has a market capitalization of $2.88 billion, a PE ratio of 8.79 and a beta of 0.67. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.41.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.85. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. The company had revenue of $76.75 million during the quarter, compared to analyst estimates of $73.32 million.

Corporacion Inmobiliaria Vesta Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were paid a $0.2181 dividend. This represents a yield of 61.0%. This is a boost from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, May 5th. Corporacion Inmobiliaria Vesta’s payout ratio is currently 4.91%.

Institutional Trading of Corporacion Inmobiliaria Vesta

A number of hedge funds have recently added to or reduced their stakes in VTMX. ABC Arbitrage SA lifted 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 worth $4,401,000 after acquiring an additional 86,328 shares during the period. Lazard Asset Management LLC lifted 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 worth $8,803,000 after acquiring an additional 19,967 shares during the period. Centersquare Investment Management LLC lifted its stake in Corporacion Inmobiliaria Vesta by 4.9% in the third quarter. Centersquare Investment Management LLC now owns 366,102 shares of the company’s stock worth $10,357,000 after acquiring an additional 17,110 shares during the period. Finally, 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 worth $1,017,000 after acquiring an additional 10,236 shares during the period. 6.61% of the stock is owned by hedge funds and other institutional investors.

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.