Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical screen not yet scored
Price33.72 USD
Fair value35.33
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markdown34.33-1.8% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Corporación Inmobiliaria Vesta, S.A.B. de C.V. holds its Markdown at $33.72. Consolidating, no directional conviction, held for 2 days.
As held on the ledger · 2026-09-18
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 2 days
Price at the screen
$33.72
Valuation
7.36 trailing · 16.17 forward price to earnings
Values screen
Not scored· score 70.0
Beta
0.27
The Workings
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
31.56%
Below 33%
Interest-bearing debt is just 31.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
6.24%
Below 49%
Money owed to the company is 6.2% of assets, under the 49% limit.
Pass
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. A 4.8% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus None. The average target sits +11% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Mexico Warehouse Landlord Trades Close To Value
Every time goods move through a Mexican industrial park the landlord collecting the rent has to navigate local rules, energy costs and shifting demand from nearshoring supply chains. Vesta sits in that flow yet our numbers show almost no margin of safety at the current price, so we pass.
Revenue is rising 14% a year and reported margins reach 112%, though much of that reflects property revaluations rather than steady cash flow. At 16 times forward earnings and a 12% return on equity the shares sit near our fair value with nothing left on the table despite the analyst consensus.
Mexico currency exposure, interest rate sensitivity and the usual real estate cycle remain real headwinds while the moat stays unclear. The ethical screen is clean but that alone does not create an opportunity. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Mexico and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
VTMX trades on the NYSE (the company is based in Mexico). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-16Markdown$33.04-3.5%Entry 5
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (5 analysts) rates it buy, with a mean price target of $37.
2026-08-16Markdown$34.23-0.3%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (5 analysts) rates it buy, with a mean price target of $37.
2026-07-18Markdown$34.33+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (5 analysts) rates it buy, with a mean price target of $37.
2026-07-03Markdown$34.33+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markdown$34.33Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
