Corporacion Inmobiliaria Vesta (NYSE:VTMX) Posts Quarterly Earnings Results, Beats Estimates By $0.72 EPS

Corporacion Inmobiliaria Vesta (NYSE:VTMX) issued its earnings results on Thursday. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.72, Zacks reports. Corporacion Inmobiliaria Vesta had a net margin of 156.69% and a return on equity of 16.72%. The firm had revenue of $79.56 million during the quarter, compared to analysts’ expectations of $79.15 million.

Corporacion Inmobiliaria Vesta Stock Performance

Shares of NYSE VTMX traded up $0.55 during trading hours on Friday, reaching $36.34. The stock had a trading volume of 46,531 shares, compared to its average volume of 65,458. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 3.69 and a beta of 0.66. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.37. Corporacion Inmobiliaria Vesta has a fifty-two week low of $27.18 and a fifty-two week high of $37.41. The firm has a 50-day moving average of $34.06 and a 200-day moving average of $34.40.

Corporacion Inmobiliaria Vesta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Wednesday, October 14th were given a $0.1999 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, October 14th. Corporacion Inmobiliaria Vesta’s dividend payout ratio (DPR) is 14.57%.

Insider Buying and Selling at Corporacion Inmobiliaria Vesta

In related news, Director Lorenzo Berho sold 33,442 shares of Corporacion Inmobiliaria Vesta stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $3.51, for a total value of $117,381.42. Following the transaction, the director directly owned 20,683,228 shares in the company, valued at $72,598,130.28. This trade represents a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carranza Lorenzo Dominiq Berho sold 60,000 shares of Corporacion Inmobiliaria Vesta stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.58, for a total transaction of $214,800.00. Following the completion of the sale, the chief executive officer directly owned 3,833,109 shares in the company, valued at approximately $13,722,530.22. The trade was a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 126,203 shares of company stock worth $445,801.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VTMX shares. Zacks Research lowered shares of Corporacion Inmobiliaria Vesta from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Corporacion Inmobiliaria Vesta in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Corporacion Inmobiliaria Vesta presently has a consensus rating of “Hold” and a consensus target price of $42.00.

About Corporacion Inmobiliaria Vesta

Corporación Inmobiliaria Vesta, SAB. de C.V., commonly known as Vesta, is a Mexican industrial real estate company focused on the development, acquisition, ownership, leasing and management of industrial properties. Its portfolio is designed to support manufacturing, logistics, distribution and other business operations.

Vesta provides industrial buildings, build-to-suit facilities and logistics-oriented properties for domestic and international companies. The company’s properties are located in major industrial markets across Mexico, including regions serving automotive, aerospace, electronics, logistics and other manufacturing activities.

Vesta was established in Mexico in 1998 and has expanded its platform alongside the country’s manufacturing and nearshoring industries.