Desjardins Downgrades StorageVault Canada (TSE:SVI) to Hold

Desjardins cut shares of StorageVault Canada (TSE:SVI) from a moderate buy rating to a hold rating in a research note 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 report on Wednesday, July 17th.

StorageVault Canada Trading Down 6.9 %

TSE SVI opened at C$4.19 on Thursday. StorageVault Canada has a 1 year low of C$3.90 and a 1 year high of C$5.50. The company has a fifty day simple moving average of C$4.83 and a 200 day simple moving average of C$4.76. The company has a market cap of C$1.56 billion, a P/E ratio of -52.38 and a beta of 0.89.

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

StorageVault Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.292 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.17 dividend on an annualized basis and a yield of 27.88%. This is a positive change from StorageVault Canada’s previous quarterly dividend of $0.29. StorageVault Canada’s payout ratio is currently -12.50%.

About StorageVault Canada

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.