Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR $VTMX Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA sharply reduced its stake in Corporacion Inmobiliaria Vesta, cutting holdings by 81.6% in the first quarter to 26,559 shares worth about $885,000.
• Insiders sold significant shares, including Director Corona Lorenzo Manuel Berho’s sale of 1,000,000 shares for $3.41 million and insider Carranza Diego Berho’s sale of 200,000 shares.
• The company reported strong results and continued shareholder returns, beating earnings and revenue estimates last quarter and announcing a quarterly dividend of $0.1999 per share, yielding about 2.4% annually.

ABC Arbitrage SA lessened its holdings in 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 disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,559 shares of the company's stock after selling 117,799 shares during the quarter. ABC Arbitrage SA's holdings in Corporacion Inmobiliaria Vesta were worth $885,000 at the end of the most recent quarter.

Separately, Lazard Asset Management LLC lifted its stake in Corporacion Inmobiliaria Vesta by 6.6% during the second quarter. Lazard Asset Management LLC now owns 321,442 shares of the company's stock worth $8,803,000 after purchasing an additional 19,967 shares during the last quarter. 6.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Corporacion Inmobiliaria Vesta

In other news, Director Corona Lorenzo Manuel Berho sold 1,000,000 shares of the business'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 transaction, the director directly owned 21,374,883 shares in the company, valued at $72,888,351.03. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $682,000.00. Following the completion of the sale, the insider directly owned 1,585,194 shares in the company, valued at $5,405,511.54. This represents a 11.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,384,697 shares of company stock valued at $8,202,933.

Analyst Ratings Changes

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

Corporacion Inmobiliaria Vesta Price Performance

Corporacion Inmobiliaria Vesta stock opened at $33.88 on Tuesday. 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 debt-to-equity ratio of 0.41, a current ratio of 5.66 and a quick ratio of 5.66. The business has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $33.66. The stock has a market capitalization of $2.87 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64.

Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.85. The firm had revenue of $76.75 million for 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 analysts predict that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.52 earnings per share for the current year.

Corporacion Inmobiliaria Vesta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 14th will be issued a $0.1999 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. Corporacion Inmobiliaria Vesta's payout ratio is presently 4.91%.

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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