Opinions Peter Imhof
StorageVault CanadaSVI.TOBUYApr 06, 2018
Peter ImhofStock price when the opinion was issued
As of Jul 03, 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
Despite the recent disappointing earnings, he continues to like holding it. A recent acquisition was quite sizable and he thinks this will allow earnings growth to continue. It may become a good take-over target and he likes the business model.