Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR $VTMX Shares Sold by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management reduced its stake in Corporacion Inmobiliaria Vesta by 9.8% in the fourth quarter, while institutional ownership remains modest at about 6.61% of shares outstanding.
• Vesta reported strong quarterly results, posting EPS of $1.25 versus the $0.40 consensus estimate and revenue of $76.75 million, topping expectations as well.
• The company raised its annual dividend to $0.2181 from $0.20, while analysts currently rate the stock a Moderate Buy with an average target price of $40.00.

Centersquare Investment Management LLC trimmed its holdings in shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,340 shares of the company's stock after selling 35,762 shares during the period. Centersquare Investment Management LLC owned about 0.39% of Corporacion Inmobiliaria Vesta worth $10,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VTMX. BNP Paribas Financial Markets lifted its position in Corporacion Inmobiliaria Vesta by 38.1% during the second quarter. BNP Paribas Financial Markets now owns 37,116 shares of the company's stock valued at $1,017,000 after buying an additional 10,236 shares in the last quarter. ABC Arbitrage SA lifted its position in Corporacion Inmobiliaria Vesta by 148.8% during the fourth quarter. ABC Arbitrage SA now owns 144,358 shares of the company's stock valued at $4,401,000 after buying an additional 86,328 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position 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 valued at $8,803,000 after buying an additional 19,967 shares in the last quarter. 6.61% of the stock is owned by institutional investors and hedge funds.

Corporacion Inmobiliaria Vesta Trading Up 0.7%

VTMX opened at $33.92 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 8.76, a P/E/G ratio of 3.05 and a beta of 0.64. The firm's fifty day moving average price is $34.93 and its 200 day moving average price is $33.19. 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, S.A.B. de C.V. Sponsored ADR has a 12-month low of $24.99 and a 12-month high of $37.41.

Corporacion Inmobiliaria Vesta (NYSE:VTMX - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.85. The firm 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%. As a group, research analysts expect that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.52 EPS for the current fiscal year.

Corporacion Inmobiliaria Vesta Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were issued a $0.2181 dividend. This is a boost from Corporacion Inmobiliaria Vesta's previous annual dividend of $0.20. This represents a yield of 61.0%. The ex-dividend date of this dividend was Tuesday, May 5th. Corporacion Inmobiliaria Vesta's dividend payout ratio is currently 4.91%.

Insider Transactions at Corporacion Inmobiliaria Vesta

In related news, CFO Achutegui Juan Felipe Sottil sold 97,488 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $3.49, for a total value of $340,233.12. Following the sale, the chief financial officer directly owned 1,254,120 shares of the company's stock, valued at $4,376,878.80. This represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Romero Alejandro Pucheu sold 50,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $3.49, for a total transaction of $174,500.00. Following the completion of the sale, the insider directly owned 412,287 shares in the company, valued at $1,438,881.63. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,222,984 shares of company stock valued at $7,643,098 over the last ninety days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corporacion Inmobiliaria Vesta in a research report on Friday, May 22nd. Barclays boosted their target price on shares of Corporacion Inmobiliaria Vesta from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. Finally, Zacks Research raised shares of Corporacion Inmobiliaria Vesta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, 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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