Corporacion Inmobiliaria Vesta (NYSE:VTMX) Sets New 52-Week High – Still a Buy?

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.41 and last traded at $36.6580, with a volume of 168313 shares. The stock had previously closed at $36.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VTMX shares. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Barclays increased their target price on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Weiss Ratings raised Corporacion Inmobiliaria Vesta from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday. Zacks Research downgraded Corporacion Inmobiliaria Vesta from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Finally, Scotiabank lowered Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corporacion Inmobiliaria Vesta has an average rating of “Hold” and an average target price of $33.33.

Corporacion Inmobiliaria Vesta Price Performance

The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 13.18 and a beta of 0.70. The company has a fifty day simple moving average of $32.46 and a two-hundred day simple moving average of $30.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.97 and a current ratio of 4.84.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $1.21. The business had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $1.29 billion. Corporacion Inmobiliaria Vesta had a return on equity of 9.33% and a net margin of 85.41%. As a group, research analysts anticipate that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.2 earnings per share for the current year.

Corporacion Inmobiliaria Vesta Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, January 27th. Shareholders of record on Friday, January 16th were issued a $0.2041 dividend. This is a positive change from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. The ex-dividend date was Friday, January 16th. This represents a yield of 63.0%. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is presently 6.09%.

Institutional Investors Weigh In On Corporacion Inmobiliaria Vesta

Several hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA grew its holdings in Corporacion Inmobiliaria Vesta by 252.0% in the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock valued at $5,458,000 after purchasing an additional 142,660 shares during the period. Lazard Asset Management LLC boosted its holdings 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 valued at $8,803,000 after purchasing an additional 19,967 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings 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 valued at $10,357,000 after purchasing an additional 17,110 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Corporacion Inmobiliaria Vesta by 38.1% during the 2nd 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 during the period. 6.61% of the stock is owned by institutional investors and hedge funds.

About Corporacion Inmobiliaria Vesta

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.