Opinions Greg Dean
StorageVault CanadaSVI.TOBUYJul 14, 2025
Greg DeanStock price when the opinion was issued
As of Jun 24, 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 bought this last year and feels it is fundamentally undervalued. There are challenges in the real estate space. It has a very good cash return and charges clients every two weeks , instead of bi-monthly. This gives it an extra payment. It focuses on value creation and optimizing operations. A comment was made that people often keep a locker longer than they first thought.