StorageVault Canada (TSE:SVI) Cut to Hold at Desjardins

Desjardins lowered shares of StorageVault Canada (TSE:SVI - Free Report) from a moderate buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

Separately, National Bank Financial upgraded StorageVault Canada from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 17th.

StorageVault Canada Stock Down 6.9 %

Shares of StorageVault Canada stock traded down C$0.31 on Thursday, hitting C$4.19. 1,366,300 shares of the company were exchanged, compared to its average volume of 266,104. The stock has a market capitalization of C$1.56 billion, a price-to-earnings ratio of -52.38 and a beta of 0.89. The company has a 50-day moving average price of C$4.83 and a 200 day moving average price of C$4.76. StorageVault Canada has a 1-year low of C$3.90 and a 1-year high of C$5.50.

StorageVault Canada (TSE:SVI - Get Free Report) last issued its earnings results 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 company had revenue of C$78.96 million for 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.292 dividend. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from StorageVault Canada's previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a yield of 27.88%. StorageVault Canada's dividend 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.