Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX) Form 6-K — Oct 22, 2026
Vesta reported strong Q3 2026 results with total rental revenue of US$79.6 million, up 9.9% year over year, and record leasing activity of 2.3 million square feet including 1.6 million sf of new leases with tenants such as BMW, DSV Logistics and Mercado Libre. Portfolio occupancy improved 220 basis points sequentially to 93.9%, while same-store NOI grew 4.4% year over year. The company raised full-year 2026 guidance, now expecting revenue growth of 11.5%-12.5% versus 10%-11% previously, and lifted Adjusted NOI and Adjusted EBITDA margin guidance to 94.0% and 84.0%. Adjusted NOI rose 10.4% to US$72.9 million with a 94.1% margin, and Adjusted EBITDA rose 9.2% to US$65.2 million.
Key figures
- Eps
- 0.1199
- Revenue
- 79563434
- Guidance
- Full-year 2026 revenue growth raised to 11.5%-12.5% (from 10%-11%); Adjusted NOI margin guidance 94.0% (from 93.5%); Adjusted EBITDA margin guidance 84.0% (from 83.0%)
- Net Income
- 110639296
- Revenue Yoy
- 9.9%
- Cash Position
- 240000000
- Gla sf
- 43.7 million sf
- Credit rating
- BBB stable (upgraded from BBB-)
- New leases sf
- 1.6 million sf (record)
- Vesta ffo yoy
- -0.7%
- Yield on cost
- 10.2%
- Adjusted noi yoy
- 10.4%
- Dividend q3 usd m
- 18.7
- Ffo after tax yoy
- -19.0%
- Same store noi yoy
- 4.4%
- Vesta ffo q3 usd m
- 47.1
- Adjusted noi margin
- 94.1%
- Fixed rate debt pct
- 86.0%
- Portfolio occupancy
- 93.9%
- Same store occupancy
- 95.5%
- Adjusted noi q3 usd m
- 72.9
- Debt prepayment usd m
- 105
- Adjusted ebitda margin
- 84.1%
- Leasing activity q3 sf
- 2.3 million sf (record)
- Portfolio value usd bn
- 4.5
- Adjusted ebitda q3 usd m
- 65.2
- Vesta ffo after tax usd m
- 33.6
- Construction in progress sf
- 3270255
- Construction investment usd m
- 282.5
- Q3 2026 dividend per share mxn
- 0.3669
- Weighted avg leasing spread ttm
- 10.0%
AI analysis
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