Corporacion Inmobiliaria Vesta (NYSE:VTMX) Sees Unusually-High Trading Volume – Here’s Why

Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) shares saw unusually-high trading volume on Tuesday . Approximately 30,922 shares traded hands during mid-day trading, a decline of 49% from the previous session’s volume of 60,175 shares.The stock last traded at $31.1160 and had previously closed at $30.73.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VTMX. Barclays boosted their target price on shares of Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Wall Street Zen raised shares of Corporacion Inmobiliaria Vesta from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Scotiabank cut shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday, October 8th. Finally, UBS Group lifted their target price on Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.33.

Corporacion Inmobiliaria Vesta Price Performance

The company has a market cap of $2.65 billion, a P/E ratio of 1,565.50, a P/E/G ratio of 5.06 and a beta of 0.69. The company’s 50-day moving average price is $30.23 and its two-hundred day moving average price is $28.36. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.50.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). The company had revenue of $72.43 million for the quarter, compared to the consensus estimate of $1.30 billion. Corporacion Inmobiliaria Vesta had a return on equity of 0.19% and a net margin of 1.83%. As a group, sell-side analysts expect 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 company also recently announced an annual dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Tuesday, October 14th were given a $0.2025 dividend. This represents a dividend yield of 78.0%. The ex-dividend date was Tuesday, October 14th. This is a positive change from Corporacion Inmobiliaria Vesta’s previous annual dividend of $0.20. Corporacion Inmobiliaria Vesta’s payout ratio is 850.00%.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings 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. 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 buying an additional 17,110 shares during the period. Lazard Asset Management LLC grew its position in shares of Corporacion Inmobiliaria Vesta by 6.6% during the 2nd 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 during the last quarter. Anson Funds Management LP acquired a new stake in Corporacion Inmobiliaria Vesta during the first quarter worth about $1,251,000. Finally, ABC Arbitrage SA raised its stake in Corporacion Inmobiliaria Vesta by 252.0% during the second quarter. ABC Arbitrage SA now owns 199,263 shares of the company’s stock worth $5,458,000 after acquiring an additional 142,660 shares during the period. 6.61% of the stock is currently owned by institutional investors.

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.