Desjardins Downgrades StorageVault Canada (TSE:SVI) to Hold

Desjardins lowered shares of StorageVault Canada (TSE:SVI) from a moderate buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

Separately, National Bank Financial raised shares of StorageVault Canada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 17th.

StorageVault Canada Stock Down 6.9 %

SVI stock opened at C$4.19 on Thursday. The company has a fifty day simple moving average of C$4.83 and a two-hundred day simple moving average of C$4.75. StorageVault Canada has a 52 week low of C$3.90 and a 52 week high of C$5.50. The firm has a market capitalization of C$1.56 billion, a P/E ratio of -52.38 and a beta of 0.89.

StorageVault Canada (TSE:SVI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C($0.02) EPS for the quarter, missing the consensus estimate of C$0.06 by C($0.08). The company had revenue of C$78.96 million during the quarter. StorageVault Canada had a negative return on equity of 14.77% and a negative net margin of 9.49%.

StorageVault Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a dividend of $0.292 per share. This is a positive change from StorageVault Canada’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, September 27th. This represents a $1.17 dividend on an annualized basis and a yield of 27.88%. StorageVault Canada’s dividend payout ratio (DPR) is presently -12.50%.

StorageVault Canada Company Profile

StorageVault Canada Inc owns, manages, and rents self-storage and portable storage space to individual and commercial customers in Canada. It operates through three segments: Self Storage, Portable Storage, and Management Division. The company manages various stores owned by third parties; and stores, shreds, and manages documents and records for customers.