Corporacion Inmobiliaria Vesta (NYSE:VTMX) Price Target Raised to $39.00

Corporacion Inmobiliaria Vesta (NYSE:VTMX) had its target price upped by UBS Group from $35.00 to $39.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

VTMX has been the subject of a number of other research reports. Barclays increased their target price on shares of Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Scotiabank cut shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.33.

Corporacion Inmobiliaria Vesta Stock Performance

Shares of NYSE VTMX opened at $30.73 on Wednesday. The business has a fifty day simple moving average of $29.92 and a 200 day simple moving average of $28.31. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1,536.50, a PEG ratio of 5.01 and a beta of 0.69. Corporacion Inmobiliaria Vesta has a one year low of $21.30 and a one year high of $32.21. 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 (NYSE:VTMX) last posted its 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). Corporacion Inmobiliaria Vesta had a return on equity of 0.19% and a net margin of 1.83%.The company had revenue of $72.43 million for the quarter, compared to the consensus estimate of $1.30 billion. Sell-side analysts expect that Corporacion Inmobiliaria Vesta will post 2.2 EPS for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VTMX. BNP Paribas Financial Markets raised its stake in shares of Corporacion Inmobiliaria Vesta by 38.1% during the second 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 last quarter. Anson Funds Management LP bought a new position in Corporacion Inmobiliaria Vesta in the first quarter valued at approximately $1,251,000. ABC Arbitrage SA grew its holdings in Corporacion Inmobiliaria Vesta by 252.0% during the 2nd 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 period. Lazard Asset Management LLC raised its position in shares of Corporacion Inmobiliaria Vesta by 6.6% during the 2nd quarter. Lazard Asset Management LLC now owns 321,442 shares of the company’s stock valued at $8,803,000 after acquiring an additional 19,967 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in shares of Corporacion Inmobiliaria Vesta by 4.9% during 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 last quarter. Institutional investors own 6.61% of the company’s stock.

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.