Corporacion Inmobiliaria Vesta (NYSE:VTMX) Hits New 1-Year High – Here’s Why

Shares of Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR (NYSE:VTMX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.51 and last traded at $32.2050, with a volume of 5185 shares traded. The stock had previously closed at $31.94.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VTMX. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday, October 8th. Scotiabank cut shares of Corporacion Inmobiliaria Vesta from a “sector outperform” rating to a “hold” rating in a research report on Wednesday, December 10th. 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. UBS Group increased their price objective on shares of Corporacion Inmobiliaria Vesta from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Barclays boosted their target price on Corporacion Inmobiliaria Vesta from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $33.33.

Corporacion Inmobiliaria Vesta Price Performance

The company’s 50-day simple moving average is $30.97 and its 200 day simple moving average is $28.74. The company has a market cap of $2.73 billion, a PE ratio of 1,610.05, a PEG ratio of 4.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.97 and a current ratio of 2.97.

Corporacion Inmobiliaria Vesta (NYSE:VTMX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The company had revenue of $72.43 million for the quarter, compared to analysts’ expectations of $1.30 billion. Corporacion Inmobiliaria Vesta had a return on equity of 0.19% and a net margin of 1.83%. On average, sell-side analysts predict that Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corporacion Inmobiliaria Vesta

Several hedge funds and other institutional investors have recently made changes to their positions in VTMX. BNP Paribas Financial Markets increased its stake 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 buying an additional 10,236 shares during the period. ABC Arbitrage SA increased its position in shares of Corporacion Inmobiliaria Vesta by 252.0% in the 2nd 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 last quarter. Lazard Asset Management LLC raised 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 in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Corporacion Inmobiliaria Vesta by 4.9% during the 3rd quarter. Centersquare Investment Management LLC now owns 366,102 shares of the company’s stock worth $10,357,000 after purchasing an additional 17,110 shares during the last quarter. Hedge funds and other institutional investors own 6.61% of the company’s stock.

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.