StorageVault Canada (TSE:SVI) PT Set at C$5.50 by Royal Bank of Canada

Royal Bank of Canada set a C$5.50 target price on StorageVault Canada (TSE:SVI) in a research report report published on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on SVI. Scotiabank cut their target price on shares of StorageVault Canada from C$5.50 to C$5.25 in a report on Thursday, January 30th. CIBC cut their target price on shares of StorageVault Canada from C$4.75 to C$4.25 in a report on Friday, April 25th. Desjardins cut their target price on shares of StorageVault Canada from C$4.75 to C$4.25 and set a “hold” rating on the stock in a report on Monday, April 28th. Raymond James raised their target price on shares of StorageVault Canada from C$4.70 to C$4.75 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Canaccord Genuity Group raised shares of StorageVault Canada from a “hold” rating to a “buy” rating and cut their target price for the stock from C$5.00 to C$4.50 in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, StorageVault Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$5.17.

StorageVault Canada Stock Up 1.6%

Shares of TSE SVI opened at C$3.79 on Wednesday. The firm’s 50-day moving average price is C$3.80 and its two-hundred day moving average price is C$3.89. StorageVault Canada has a 52-week low of C$3.53 and a 52-week high of C$5.26. The stock has a market capitalization of C$1.39 billion, a P/E ratio of -27.58 and a beta of 0.89.

StorageVault Canada Cuts Dividend

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

Insider Activity

In related news, Director Benjamin Harris sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of C$3.78, for a total transaction of C$113,439.00. Also, insider StorageVault Canada Inc. bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average cost of C$3.95 per share, for a total transaction of C$98,742.50. Over the last 90 days, insiders have acquired 41,600 shares of company stock valued at $162,890. Insiders own 38.49% of the company’s stock.

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.