Corporacion Inmobiliaria Vesta (NYSE:VTMX) Announces Quarterly Earnings Results

Key Points

• Corporacion Inmobiliaria Vesta reported quarterly EPS of $1.09, well above the $0.46 consensus estimate, while revenue came in at $78.5 million, slightly ahead of expectations.
• The stock rose about 1% after the earnings release and was trading at $34.12, with the company carrying a market cap of $2.89 billion and a dividend yield of about 2.3%.
• Analyst sentiment remains cautious overall: several firms recently downgraded the stock to Hold, giving it a consensus rating of Hold with an average price target of $42.00.

Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.63, FiscalAI reports. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. The company had revenue of $78.50 million for the quarter, compared to analysts' expectations of $77.05 million.

Corporacion Inmobiliaria Vesta Stock Up 1.0%

NYSE:VTMX traded up $0.33 during trading hours on Wednesday, reaching $34.12. 249,438 shares of the stock were exchanged, compared to its average volume of 88,017. The stock has a market cap of $2.89 billion, a PE ratio of 8.82, a PEG ratio of 3.09 and a beta of 0.64. Corporacion Inmobiliaria Vesta has a twelve month low of $25.28 and a twelve month high of $37.41. The firm has a 50 day moving average of $34.23 and a 200 day moving average of $33.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.66 and a quick ratio of 5.66.

Corporacion Inmobiliaria Vesta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Tuesday, July 14th will be given a dividend of $0.1999 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Corporacion Inmobiliaria Vesta's dividend payout ratio is 17.57%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Zacks Research cut shares of Corporacion Inmobiliaria Vesta from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen downgraded Corporacion Inmobiliaria Vesta from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Barclays raised their price target on Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Corporacion Inmobiliaria Vesta in a report on Friday, May 22nd. Finally, UBS Group boosted their price objective on Corporacion Inmobiliaria Vesta from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Corporacion Inmobiliaria Vesta currently has an average rating of "Hold" and a consensus price target of $42.00.

Insider Buying and Selling

In related news, Director Corona Lorenzo Manuel Berho sold 53,700 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $3.49, for a total value of $187,413.00. Following the completion of the transaction, the director owned 20,771,183 shares of the company's stock, valued at approximately $72,491,428.67. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Colmenares Sergio Raul Martin sold 34,239 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 1,800 shares of the company's stock, valued at approximately $6,156. This trade represents a 95.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,384,697 shares of company stock valued at $8,202,933 over the last ninety days.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

A hedge fund recently raised its position in Corporacion Inmobiliaria Vesta stock. BNP Paribas Financial Markets raised its stake in Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX - Free Report) by 38.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,116 shares of the company's stock after purchasing an additional 10,236 shares during the quarter. BNP Paribas Financial Markets' holdings in Corporacion Inmobiliaria Vesta were worth $1,017,000 at the end of the most recent reporting period. 6.61% of the stock is currently owned by institutional investors.

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.

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