StorageVault Canada (TSE:SVI) Stock Price Down 2.7% – Here’s Why

StorageVault Canada Inc. (TSE:SVI) traded down 2.7% during mid-day trading on Wednesday . The company traded as low as C$3.55 and last traded at C$3.56. 123,186 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 440,565 shares. The stock had previously closed at C$3.66.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SVI. Cibc World Mkts raised shares of StorageVault Canada to a “hold” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group upgraded shares of StorageVault Canada from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$5.00 to C$4.50 in a research note on Monday, February 24th. CIBC reduced their price objective on shares of StorageVault Canada from C$5.00 to C$4.75 in a report on Monday, February 24th. Scotiabank lowered their target price on shares of StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. Finally, Raymond James upgraded StorageVault Canada from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, StorageVault Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$5.47.

StorageVault Canada Stock Up 2.5 %

The firm has a fifty day moving average price of C$3.87 and a 200-day moving average price of C$4.10. The firm has a market cap of C$1.38 billion, a price-to-earnings ratio of -27.29 and a beta of 0.89.

StorageVault Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.0029 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, March 31st. StorageVault Canada’s dividend payout ratio (DPR) is presently -7.28%.

Insider Buying and Selling

In other StorageVault Canada news, insider StorageVault Canada Inc. bought 50,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of C$3.95 per share, with a total value of C$197,440.00. 38.49% of the stock is currently owned by corporate insiders.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations.