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

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) was the recipient of a significant drop in short interest in the month of 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. Based on an average daily volume of 152,150 shares, the short-interest ratio is presently 1.3 days. Approximately 0.2% of the shares of the stock are sold short.

Insider Transactions at Corporacion Inmobiliaria Vesta

In related news, insider Carranza Diego Berho sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.44, for a total value of $34,400.00. Following the completion of the sale, the insider owned 1,835,194 shares in the company, valued at $6,313,067.36. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Colmenares Sergio Raul Martin sold 34,239 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 1,800 shares of the company’s stock, valued at $6,156. This trade represents a 95.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,222,984 shares of company stock valued at $7,643,098.

Institutional Investors Weigh In On Corporacion Inmobiliaria Vesta

Several hedge funds have recently modified their holdings of VTMX. BNP Paribas Financial Markets boosted its position in shares of 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 last quarter. Lazard Asset Management LLC lifted its position in Corporacion Inmobiliaria Vesta by 6.6% during the second quarter. Lazard Asset Management LLC now owns 321,442 shares of the company’s stock valued at $8,803,000 after buying an additional 19,967 shares in the last quarter. Centersquare Investment Management LLC lifted its position in Corporacion Inmobiliaria Vesta by 4.9% during the third quarter. Centersquare Investment Management LLC now owns 366,102 shares of the company’s stock valued at $10,357,000 after buying an additional 17,110 shares in the last quarter. Finally, ABC Arbitrage SA lifted its position in Corporacion Inmobiliaria Vesta by 148.8% during the fourth quarter. ABC Arbitrage SA now owns 144,358 shares of the company’s stock valued at $4,401,000 after buying an additional 86,328 shares in the last quarter. 6.61% of the stock is owned by institutional investors and hedge funds.

Corporacion Inmobiliaria Vesta Trading Up 1.1%

Shares of NYSE VTMX traded up $0.37 during midday trading on Friday, reaching $34.26. 48,773 shares of the stock were exchanged, compared to its average volume of 122,844. The company has a market capitalization of $2.90 billion, a P/E ratio of 8.85, a P/E/G ratio of 3.10 and a beta of 0.64. Corporacion Inmobiliaria Vesta has a 52-week low of $24.99 and a 52-week high of $37.41. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $34.93 and a 200-day moving average price of $33.20.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last released its earnings results on Friday, April 24th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 business had revenue of $76.75 million for the quarter, compared to analysts’ expectations of $73.32 million. Equities research analysts expect that Corporacion Inmobiliaria Vesta will post 2.52 earnings per share for the current fiscal year.

Corporacion Inmobiliaria Vesta Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were given a $0.2181 dividend. This is a boost from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. This represents a dividend yield of 61.0%. The ex-dividend date of this dividend was Tuesday, May 5th. Corporacion Inmobiliaria Vesta’s dividend payout ratio is 4.65%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings restated a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a report on Friday, May 22nd. Barclays raised their target price 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. Finally, Zacks Research upgraded shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. One equities research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.