Vesta Lifts 2026 Revenue Growth Guidance to 11.5%-12.5% on Record Leasing
VTMX sits 34% above its 52-week low of $26.635.
Summary
Vesta raised full-year 2026 revenue growth guidance to 11.5%-12.5% from 10%-11%, citing stronger-than-expected rental income from properties leased this year, and lifted margin targets to 94.0% Adjusted NOI and 84.0% Adjusted EBITDA. Q3 rental revenue excluding energy rose 10.8% year over year to US$77.5 million, with Adjusted NOI up 10.4% to US$72.9 million. Leasing was the standout: 2.3 million sf signed in the quarter, including a record 1.6 million sf of new leases, pushing occupancy up 220 basis points sequentially to 93.9%. The soft spot is per-share cash flow — Vesta FFO fell 0.7% to US$47.1 million and FFO after tax per share dropped 26.0% to US$0.0358 on higher current tax expense and a larger share count following this year's equity offering. The guidance raise lands after two credit upgrades to BBB in August and the early repayment of US$105 million of private debt in September, both of which lowered financing costs. The earnings call is Friday, October 23 at 11:00 a.m. ET.
At the time of this announcement, VTMX was trading at $35.79 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $26.64 to $37.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.