Corporacion Inmobiliaria Vesta (NYSE:VTMX) Director Corona Lorenzo Manuel Berho Sells 300,000 Shares

Key Points

• Director Corona Lorenzo Manuel Berho sold 300,000 shares of Corporacion Inmobiliaria Vesta at an average price of $3.48, totaling about $1.04 million, and his ownership fell 1.42% afterward.
• The director also made two earlier sales this month, including 200,000 shares on May 26 and 1 million shares on May 20, signaling continued insider selling.
• Despite the insider sales, Vesta reported better-than-expected quarterly earnings and recently raised its annual dividend to $0.2181 per share; analysts currently have a Moderate Buy consensus with a $40 average target price.

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX - Get Free Report) Director Corona Lorenzo Manuel Berho sold 300,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $3.48, for a total transaction of $1,044,000.00. Following the transaction, the director owned 20,874,883 shares in the company, valued at approximately $72,644,592.84. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Corona Lorenzo Manuel Berho also recently made the following trade(s):

• On Tuesday, May 26th, Corona Lorenzo Manuel Berho sold 200,000 shares of Corporacion Inmobiliaria Vesta stock. The stock was sold at an average price of $3.48, for a total transaction of $696,000.00.
• On Wednesday, May 20th, Corona Lorenzo Manuel Berho sold 1,000,000 shares of Corporacion Inmobiliaria Vesta stock. The stock was sold at an average price of $3.41, for a total transaction of $3,410,000.00.

Corporacion Inmobiliaria Vesta Stock Performance

NYSE:VTMX traded up $0.05 during midday trading on Thursday, reaching $34.93. The stock had a trading volume of 111,058 shares, compared to its average volume of 160,392. The firm has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $32.94. Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR has a 12-month low of $24.99 and a 12-month high of $37.41. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.95 billion, a P/E ratio of 9.03, a P/E/G ratio of 3.45 and a beta of 0.67.

Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.85. Corporacion Inmobiliaria Vesta had a net margin of 111.99% and a return on equity of 12.23%. The firm had revenue of $76.75 million for the quarter, compared to analyst estimates of $73.32 million. On average, equities analysts expect that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.3 EPS for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.2181 per share. This represents a dividend yield of 61.0%. The ex-dividend date was Tuesday, May 5th. This is an increase from Corporacion Inmobiliaria Vesta's previous annual dividend of $0.20. Corporacion Inmobiliaria Vesta's payout ratio is presently 4.91%.

Institutional Investors Weigh In On Corporacion Inmobiliaria Vesta

Several institutional investors and hedge funds have recently made changes to their positions in the business. ABC Arbitrage SA boosted its position in shares of Corporacion Inmobiliaria Vesta by 148.8% in the 4th quarter. ABC Arbitrage SA now owns 144,358 shares of the company's stock worth $4,401,000 after buying an additional 86,328 shares in the last quarter. Centersquare Investment Management LLC boosted its position in shares of 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 buying an additional 17,110 shares in 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 worth $8,803,000 after buying an additional 19,967 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Corporacion Inmobiliaria Vesta by 38.1% in the 2nd 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 in the last quarter. 6.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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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