Corporacion Inmobiliaria Vesta (NYSE:VTMX) Sees Unusually-High Trading Volume – Here’s What Happened

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) shares saw strong trading volume on Thursday . 109,626 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 49,832 shares.The stock last traded at $32.4090 and had previously closed at $32.28.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen raised Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Zacks Research lowered shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Scotiabank downgraded shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $33.33.

Corporacion Inmobiliaria Vesta Trading Down 0.4%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.97 and a current ratio of 2.97. The business has a 50 day simple moving average of $31.15 and a 200-day simple moving average of $28.96. The stock has a market capitalization of $2.70 billion, a P/E ratio of 1,595.50, a price-to-earnings-growth ratio of 4.16 and a beta of 0.70.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last released its earnings results on Thursday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $72.43 million for the quarter, compared to analyst estimates of $1.30 billion. On average, analysts predict that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.2 EPS for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 27th. Investors of record on Friday, January 16th will be issued a $0.2041 dividend. This represents a dividend yield of 63.0%. The ex-dividend date is Friday, January 16th. This is an increase from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. Corporacion Inmobiliaria Vesta’s payout ratio is presently 850.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ABC Arbitrage SA increased its holdings in shares of Corporacion Inmobiliaria Vesta by 252.0% in the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock valued at $5,458,000 after buying an additional 142,660 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings 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 valued at $1,017,000 after purchasing an additional 10,236 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Corporacion Inmobiliaria Vesta by 6.6% in the 2nd quarter. Lazard Asset Management LLC now owns 321,442 shares of the company’s stock valued at $8,803,000 after purchasing an additional 19,967 shares during the period. Finally, Centersquare Investment Management LLC increased 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 worth $10,357,000 after purchasing an additional 17,110 shares in the last quarter. Institutional investors and hedge funds 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.