Storagevault Canada Inc T.SVI

Andrew Pink - BNN comment- TOP PICK

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TOP PICK

StorageVault Canada(SVI-T)

08/01/2024

 

An essential service, and SVI is the only public storage company in Canada. Not a REIT. Have strong organic growth, but also buy companies with a good track record in a fragmented industry in Canada. So there are lots of opportunities to buy smaller companies. They target 4-6% same property growth. Lease terms are typically 1.5-2 years, so prices can be reset. They keep capital costs very low, and are diversified geographically. Defensive. Is 16% below February 2023, so there's room to run.

(Analysts’ price target is $5.91)

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Storage Vault (SVI TSX)

Storage Vault is a unique, real estate operating company with a portfolio of storage facilities in strategic locations across Canada. Storage is a needs-based product for individuals, families, and businesses. SVI is a consolidator in a fragmented industry and provides investors with the prospect for reliable long-term growth. Seasonal rental turnover provides management with ongoing market price discovery which helps support a targeted four per cent to six per cent same property net operating income annual growth rate.