Corporación Inmobiliaria Vesta (NYSE:VTMX) Sets New 52-Week Low – Here’s Why

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $23.77 and last traded at $24.17, with a volume of 26164 shares changing hands. The stock had previously closed at $24.44.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VTMX. The Goldman Sachs Group dropped their price target on Corporación Inmobiliaria Vesta from $42.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Barclays dropped their price target on Corporación Inmobiliaria Vesta from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st.

Corporación Inmobiliaria Vesta Trading Down 0.6 %

The company has a market cap of $20.99 billion, a P/E ratio of 5.50 and a beta of 1.37. The business has a fifty day moving average price of $26.26 and a 200-day moving average price of $29.32. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.31.

Corporación Inmobiliaria Vesta Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, October 11th were given a $0.1843 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Corporación Inmobiliaria Vesta’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, October 11th. Corporación Inmobiliaria Vesta’s payout ratio is presently 3.39%.

Institutional Investors Weigh In On Corporación Inmobiliaria Vesta

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its position in Corporación Inmobiliaria Vesta by 54.3% during the second quarter. Rhumbline Advisers now owns 3,610 shares of the company’s stock valued at $108,000 after purchasing an additional 1,270 shares in the last quarter. Marshall Wace LLP raised its position in Corporación Inmobiliaria Vesta by 358.1% during the second quarter. Marshall Wace LLP now owns 144,167 shares of the company’s stock valued at $4,324,000 after purchasing an additional 112,699 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Corporación Inmobiliaria Vesta by 3,292.8% during the first quarter. Lazard Asset Management LLC now owns 336,600 shares of the company’s stock valued at $13,208,000 after purchasing an additional 326,679 shares in the last quarter. 6.94% of the stock is currently owned by institutional investors and hedge funds.

About Corporación Inmobiliaria Vesta

Corporación Inmobiliaria Vesta, SAB. de C.V., together with its subsidiaries, acquires, develops, manages, operates, and leases industrial buildings and distribution facilities in Mexico. The company was incorporated in 1998 and is headquartered in Mexico City, Mexico.