Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) Sees Significant Decrease in Short Interest

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 205,020 shares, a drop of 47.6% from the May 14th total of 391,121 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 152,150 shares, the days-to-cover ratio is currently 1.3 days.

Corporacion Inmobiliaria Vesta Stock Performance

VTMX opened at $34.30 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.66 and a quick ratio of 5.66. The firm has a fifty day moving average price of $34.94 and a 200 day moving average price of $33.25. Corporacion Inmobiliaria Vesta has a 1 year low of $24.99 and a 1 year high of $37.41. The stock has a market cap of $2.90 billion, a P/E ratio of 8.86, a P/E/G ratio of 3.10 and a beta of 0.64.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $73.32 million. Equities research analysts anticipate that Corporacion Inmobiliaria Vesta will post 2.52 earnings per share for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

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

Insider Activity

In related news, Director Corona Lorenzo Manuel Berho sold 1,000,000 shares of Corporacion Inmobiliaria Vesta stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.41, for a total value of $3,410,000.00. Following the completion of the sale, the director directly owned 21,374,883 shares in the company, valued at $72,888,351.03. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Carranza Diego Berho sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.41, for a total transaction of $682,000.00. Following the transaction, the insider owned 1,585,194 shares in the company, valued at $5,405,511.54. The trade was a 11.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,222,984 shares of company stock valued at $7,643,098.

Institutional Trading of Corporacion Inmobiliaria Vesta

Several institutional investors have recently bought and sold shares of VTMX. BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 10,236 shares during the period. Centersquare Investment Management LLC grew its stake in 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 acquiring an additional 17,110 shares during the period. Lazard Asset Management LLC increased its holdings in Corporacion Inmobiliaria Vesta by 6.6% in the 2nd 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 in the last quarter. Finally, ABC Arbitrage SA increased its holdings in Corporacion Inmobiliaria Vesta by 148.8% in the 4th 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 in the last quarter. 6.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research upgraded Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Barclays upped their price objective on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Corporacion Inmobiliaria Vesta currently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.