Opinions
Andrew Pink
StorageVault Canada
SVI-T
HOLD
Apr 30, 2025
$3.705
Stock price when the opinion was issued
Transportation
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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
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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misc consumer products
Likes the company and what they're doing. National presence. He sold because US counterparts were struggling, and he feared those struggles would bleed into the Canadian market. A big pending IPO in the US could take some of the lustre out of this name. CEO fears seasonal trends may not develop as usual this year.
At these levels, definitely hold. Might be a 2026 story. Be patient.
Disclaimer: He's pretty close with the CEO.