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Opinions Colin Stewart
StorageVault CanadaSVI.TOCOMMENTFeb 15, 2017
Colin StewartStock price when the opinion was issued
As of Jun 12, 2026. Market Open.
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SVI operates in a structure relatively similar to a REIT but is much more growth-focussed. It needs to utilize debt in order to be able to grow its portfolio of assets which it rents out. It has also grown primarily via acquisition. The rising rate environment has created cost pressures, however we do think the outlook is positive. As Canada has already begun cutting rates, we think SVI stands to benefit from lower interest expenses (bottom-line expansion) and being able to isse more debt to finance growth (top line expansion). The industry is capital intensive so while high debt is a risk, it is somewhat unavoidable. We like the outlook for SVI.
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Robert McWhirterRobert McWhirter
There is a scarcity value. There are really no other publicly traded self storage businesses in Canada. Over the last few years, the sector has probably been one of the best performing in the US. He likes management and he likes the story. Not cheap, but thinks it will continue to do well and acquire more units.