Corporacion Inmobiliaria Vesta (NYSE:VTMX) Issues Quarterly Earnings Results, Beats Expectations By $0.63 EPS

Corporacion Inmobiliaria Vesta (NYSE:VTMX) announced its earnings results on Wednesday. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.46 by $0.63, FiscalAI reports. Corporacion Inmobiliaria Vesta had a return on equity of 12.23% and a net margin of 111.99%.The firm had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $77.05 million.

Corporacion Inmobiliaria Vesta Trading Up 1.0%

Corporacion Inmobiliaria Vesta stock traded up $0.33 during midday trading on Wednesday, reaching $34.12. The stock had a trading volume of 249,439 shares, compared to its average volume of 88,017. The firm’s fifty day simple moving average is $34.23 and its two-hundred day simple moving average is $33.81. Corporacion Inmobiliaria Vesta has a twelve month low of $25.28 and a twelve month high of $37.41. 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 market cap of $2.89 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 3.09 and a beta of 0.64.

Corporacion Inmobiliaria Vesta Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, July 14th. Corporacion Inmobiliaria Vesta’s dividend payout ratio is 17.57%.

Insider Activity at Corporacion Inmobiliaria Vesta

In other news, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 owned 1,254,120 shares in the company, valued at $4,376,878.80. This represents a 7.21% decrease in their ownership of the stock. 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 10,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $3.44, for a total value of $34,400.00. Following the completion of the sale, the insider directly owned 1,835,194 shares of the company’s stock, valued at approximately $6,313,067.36. This trade represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,384,697 shares of company stock worth $8,202,933.

Institutional Investors Weigh In On Corporacion Inmobiliaria Vesta

A hedge fund recently raised its position in Corporacion Inmobiliaria Vesta stock. Lazard Asset Management LLC raised its holdings in shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,442 shares of the company’s stock after acquiring an additional 19,967 shares during the quarter. Lazard Asset Management LLC’s holdings in Corporacion Inmobiliaria Vesta were worth $8,803,000 at the end of the most recent quarter. Institutional investors own 6.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VTMX shares. Wall Street Zen lowered shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Friday, May 22nd. Barclays raised their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. UBS Group lifted their price target on shares of Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Zacks Research cut Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corporacion Inmobiliaria Vesta has an average rating of “Hold” and a consensus price target of $42.00.

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.