ABC Arbitrage SA reduced its stake in shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX – Free Report) by 81.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,559 shares of the company’s stock after selling 117,799 shares during the period. ABC Arbitrage SA’s holdings in Corporacion Inmobiliaria Vesta were worth $885,000 at the end of the most recent reporting period.
Separately, Lazard Asset Management LLC increased its holdings 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 in the last quarter. 6.61% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on VTMX shares. UBS Group raised their price objective on shares of Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a report on Friday, May 22nd. Wall Street Zen cut shares of Corporacion Inmobiliaria Vesta from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Barclays lifted their price target on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.
Insider Activity
In other Corporacion Inmobiliaria Vesta news, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the business’s 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 transaction, the chief financial officer directly owned 1,254,120 shares in the company, valued at approximately $4,376,878.80. The trade was a 7.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carranza Lorenzo Dominiq Berho sold 50,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $3.42, for a total value of $171,000.00. Following the transaction, the chief executive officer directly owned 3,943,199 shares in the company, valued at approximately $13,485,740.58. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,384,697 shares of company stock valued at $8,202,933 in the last 90 days.
Corporacion Inmobiliaria Vesta Trading Down 0.9%
Shares of VTMX stock opened at $33.88 on Tuesday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 3.09 and a beta of 0.64. 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 firm has a 50-day moving average price of $34.38 and a 200 day moving average price of $33.66. Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR has a twelve month low of $24.99 and a twelve month high of $37.41.
Corporacion Inmobiliaria Vesta (NYSE:VTMX – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.85. The company had revenue of $76.75 million for the quarter, compared to analysts’ expectations of $73.32 million. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. Research analysts forecast that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.52 earnings per share for the current fiscal year.
Corporacion Inmobiliaria Vesta Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Tuesday, July 14th will be given a dividend of $0.1999 per share. The ex-dividend date is Tuesday, July 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is 4.91%.
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.
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