Opinions Peter Imhof
StorageVault CanadaSVI.TOHOLDJun 13, 2018
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
People often rent for a few months, but hold it two or three times longer than planned. He owns it and sees good growth opportunity that will allow the share price to grow into the relatively expensive multiples. If you continue to hold, the earnings growth will grow into the price and the stock will look cheap. Tuck it away and hold on.