Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) Short Interest Down 57.3% in July

Key Points

• Short interest fell 57.3% in July to 259,817 shares, representing 0.3% of outstanding shares and a 2.4-day short-interest ratio.
• Insiders sold 2.41 million shares worth approximately $8.3 million over the last quarter, while institutional investors own 6.61% of Vesta’s stock.
• Vesta reported $1.09 in quarterly EPS on $78.5 million in revenue and declared a quarterly dividend of $0.1999, equivalent to an annualized yield of about 2.4%. Analysts’ consensus rating is “Hold,” with a $42 price target.

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX - Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 259,817 shares, a decline of 57.3% from the July 15th total of 608,709 shares. Currently, 0.3% of the company's shares are short sold. Based on an average daily volume of 108,198 shares, the days-to-cover ratio is presently 2.4 days.

Insider Activity at Corporacion Inmobiliaria Vesta

In other news, insider Carranza Diego Berho sold 200,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $3.41, for a total value of $682,000.00. Following the transaction, the insider owned 1,585,194 shares of the company's stock, valued at approximately $5,405,511.54. This trade represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Corona Lorenzo Manuel Berho sold 1,000,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $3.41, for a total transaction of $3,410,000.00. Following the completion of the transaction, the director directly owned 21,374,883 shares in the company, valued at $72,888,351.03. This trade represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,414,085 shares of company stock worth $8,303,647.

Institutional Trading of Corporacion Inmobiliaria Vesta

Hedge funds have recently added to or reduced their stakes in the business. ABC Arbitrage SA grew its stake in Corporacion Inmobiliaria Vesta by 148.8% in 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. Lazard Asset Management LLC increased its holdings in shares of Corporacion Inmobiliaria Vesta by 6.6% in the second quarter. Lazard Asset Management LLC now owns 321,442 shares of the company's stock worth $8,803,000 after acquiring an additional 19,967 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position 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 worth $1,017,000 after purchasing an additional 10,236 shares during the period. Institutional investors and hedge funds own 6.61% of the company's stock.

Corporacion Inmobiliaria Vesta Trading Up 0.3%

Corporacion Inmobiliaria Vesta stock traded up $0.09 during midday trading on Friday, hitting $33.94. 27,160 shares of the stock were exchanged, compared to its average volume of 83,379. The stock has a market capitalization of $2.87 billion, a PE ratio of 7.38, a P/E/G ratio of 3.61 and a beta of 0.64. The company has a fifty day simple moving average of $34.13 and a two-hundred day simple moving average of $34.12. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.37. Corporacion Inmobiliaria Vesta has a 52 week low of $25.59 and a 52 week high of $37.41.

Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $1.09 EPS for the quarter. The firm had revenue of $78.50 million during the quarter. Corporacion Inmobiliaria Vesta had a net margin of 132.22% and a return on equity of 14.20%. Equities research analysts anticipate that Corporacion Inmobiliaria Vesta will post 2.82 EPS for the current fiscal year.

Corporacion Inmobiliaria Vesta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th were issued a $0.1999 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. Corporacion Inmobiliaria Vesta's payout ratio is 14.78%.

Analyst Ratings Changes

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

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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