Corporacion Inmobiliaria Vesta (NYSE:VTMX) Cut to Hold at Scotiabank

Scotiabank lowered shares of Corporacion Inmobiliaria Vesta (NYSE:VTMX) from a sector outperform rating to a hold rating in a report released on Wednesday, Marketbeat Ratings reports.

Several other research analysts have also recently commented on VTMX. Barclays increased their price target on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Zacks Research upgraded Corporacion Inmobiliaria Vesta from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. UBS Group lowered their target price on shares of Corporacion Inmobiliaria Vesta from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Corporacion Inmobiliaria Vesta presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Corporacion Inmobiliaria Vesta Stock Down 1.1%

Corporacion Inmobiliaria Vesta stock opened at $30.79 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.50. Corporacion Inmobiliaria Vesta has a 1-year low of $21.30 and a 1-year high of $32.21. The company has a fifty day simple moving average of $29.48 and a 200 day simple moving average of $28.25. The company has a market cap of $2.60 billion, a P/E ratio of 1,539.30, a price-to-earnings-growth ratio of 5.05 and a beta of 0.69.

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

Corporacion Inmobiliaria Vesta Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Tuesday, October 14th were issued a dividend of $0.2025 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a yield of 78.0%. This is a positive change from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. Corporacion Inmobiliaria Vesta’s payout ratio is 850.00%.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings 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. Anson Funds Management LP bought a new position in Corporacion Inmobiliaria Vesta in the 1st quarter valued at about $1,251,000. ABC Arbitrage SA lifted its position in Corporacion Inmobiliaria Vesta by 252.0% during the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock worth $5,458,000 after acquiring an additional 142,660 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Corporacion Inmobiliaria Vesta by 6.6% during 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. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Corporacion Inmobiliaria Vesta by 4.9% during 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. 6.61% of the stock is owned by institutional investors.

About Corporacion Inmobiliaria Vesta

Corporación Inmobiliaria Vesta, SAB. de C.V., together with its subsidiaries, acquires, develops, manages, operates, and leases industrial buildings and distribution facilities in Mexico. The company was incorporated in 1998 and is headquartered in Mexico City, Mexico.