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 decline in short interest in May. As of May 29th, there was short interest totaling 205,020 shares, a decline of 47.6% from the May 14th total of 391,121 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 152,150 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

A number of brokerages have weighed in on VTMX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research report on Friday, May 22nd. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. Barclays boosted their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Insider Activity

In other Corporacion Inmobiliaria Vesta news, insider Carranza Diego Berho sold 200,000 shares of Corporacion Inmobiliaria Vesta stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.41, for a total transaction of $682,000.00. Following the transaction, the insider directly owned 1,585,194 shares of the company’s stock, valued at $5,405,511.54. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of Corporacion Inmobiliaria Vesta stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $3.49, for a total transaction of $340,233.12. Following the transaction, the chief financial officer directly owned 1,254,120 shares in the company, valued at approximately $4,376,878.80. This trade represents a 7.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,222,984 shares of company stock valued at $7,643,098 over the last quarter.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

Several hedge funds and other institutional investors have recently modified their holdings of VTMX. BNP Paribas Financial Markets boosted 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 acquiring an additional 10,236 shares during the period. 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 valued at $8,803,000 after acquiring an additional 19,967 shares during the period. 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 valued at $10,357,000 after acquiring an additional 17,110 shares during the period. Finally, ABC Arbitrage SA boosted its holdings in shares of 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 acquiring an additional 86,328 shares during the period. Institutional investors and hedge funds own 6.61% of the company’s stock.

Corporacion Inmobiliaria Vesta Stock Up 1.1%

Shares of NYSE:VTMX traded up $0.37 during midday trading on Friday, reaching $34.26. The company had a trading volume of 48,773 shares, compared to its average volume of 122,844. 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 stock’s fifty day moving average price is $34.93 and its 200-day moving average price is $33.20. The stock has a market capitalization of $2.90 billion, a P/E ratio of 8.85, a PEG ratio of 3.10 and a beta of 0.64. Corporacion Inmobiliaria Vesta has a one year low of $24.99 and a one year high of $37.41.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last issued its quarterly earnings results on Friday, April 24th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.85. The business had revenue of $76.75 million during the quarter, compared to analyst estimates of $73.32 million. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. 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 firm also recently announced an annual dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.2181 per share. The ex-dividend date was Tuesday, May 5th. This is a positive change from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. This represents a yield of 61.0%. Corporacion Inmobiliaria Vesta’s payout ratio is presently 4.65%.

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.