Storagevault Canada Inc T.SVI.DB.B

Primary Symbol: T.SVI Alternate Symbol(s): SVAUF | T.SVI.DB | T.SVI.DB.C

StorageVault Canada Inc. is a Canada-based storage company. The Company's primary business is owning, managing and renting self-storage and portable storage space to individuals and commercial customers. It operates three business segments: self storage, portable storage and management fees. It is represented regionally under the various brands: Access Storage, Sentinel Storage, Depotium Mini-Entrepot and Cubeit Portable Storage. It also provides last mile storage and logistics solutions through FlexSpace Logistics and professional records management services, such as document and media storage, imaging and shredding services through RecordXpress. It owns and operates approximately 251 storage locations across Canada. It owns 221 of these locations plus over 5,000 portable storage units representing over 12.5 million rentable square feet on over 725 acres of land. It offers self-storage solutions to residential clients who are in a state of transition.

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Storagevault Canada Inc

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Post by Possibleidiot01on Oct 08, 2024 7:24pm

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Post# 36258635

Johsua Varghese - BNN - Top Pick

Storagevault (SVI TSX)

Storagevault is a real estate company characterized by a strong and well-aligned management team, a unique asset class within the Canadian real estate sector, and a track record of value creation. It is the largest publicly traded owner of storage facilities in Canada, owning over 12 million square feet of storage space. After several years of double-digit net operating income growth, it has seen slowing fundamentals due to a weaker residential property market (with a resulting decrease in demand for storage space), causing the stock price to come down 33 per cent from its high in 2022. This represents a compelling entry point for an investor to get exposure to a potential recovery in residential markets as interest rates decline and invest at a good price with a well-proven management team that knows how to create value for unitholders.

TOP PICK

Demand endures and it's a low capex business. It trades at only a 5.5% cap rate and 3-4% net operating income growth, down from double-digit but seems to be troughing. Will benefit from lower interest rates as more people move homes and need storage space.

(Analysts’ price target is $5.78)

Transportation

$4.870