Opinions Peter Imhof
StorageVault CanadaSVI.TOCOMMENTDec 21, 2017
Peter ImhofStock price when the opinion was issued
As of Jun 26, 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
He really likes this. This is storage, and they are great, because you don't need a lot of operations and are able to raise their prices. This is the "go to" name in Canada. They've done a number of acquisitions as the business is still highly fragmented, and it gives opportunities for a lot of people to bend their assets into storage faults in a tax efficient way.