12 March, 2024 | #DatozByDatoz
Vesta, the real estate company specialized in the development and management of industrial buildings, is one of the issuers on the Mexican Stock Exchange (BMV) with the highest returns in the price of its stock since 2020, gaining almost 90% between January 2020 and the same month of 2024.
On the first day of January 2020, Vesta’s stock was trading on the BMV at $34.53 pesos. Four years later, it reached a price of $65.40 pesos. Vesta’s stock generated a cumulative return of 89%; 2023 and 2024 were the years with the highest returns, as until January 2022, the stock was trading at less than $40.00 pesos.
The performance in Vesta’s stock price occurs in a favorable environment for Mexico’s industrial real estate market, driven by trends such as nearshoring and e-commerce, which have revolutionized the dynamics of this market through historic demands for such spaces, reaching up to 70 million ft2 absorbed in the country’s 24 most important industrial markets in 2022, according to information from Datoz’s Analytics 2.0.
Vesta is one of the companies most favored by this context, as it has an inventory of 213 industrial properties, 37.3 million ft2 of gross leasable area (GLA) distributed across the most important markets in the north, center, and bajio regions of the country. The occupancy rate of these properties is 93.4%, with 2.5 million ft2 available.
At the close of 2023, Vesta’s revenues totaled $214 million dollars for the year, which was 20.5% higher than the previous year. This was driven by its strong leasing activity in 2023, which reached 7.9 million ft2: 4.5 million square feet were from new leases, and renewals reached 3.4 million, with a weighted average lease term of six years.
Currently, Vesta is developing 3.2 million ft2 of speculative buildings in the markets of Ciudad Juárez, Aguascalientes, San Luis Potosí, Querétaro, and Mexico City. These buildings represent an investment of $267.1 million dollars.
Additionally, the industrial developer has a land reserve of 31 million ft2, located in Monterrey, San Luis Potosí, Querétaro, Guanajuato, Aguascalientes, and Puebla.
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