Canaccord Genuity analyst Mark Rothschild maintained a Buy rating on Storagevault Canada today and set a price target of C$5.75.
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Mark Rothschild’s rating is based on StorageVault Canada’s solid operating performance and promising growth prospects. The company reported a 9.5% year-over-year increase in funds from operations (FFO) per share for Q3/25, aligning with expectations and driven by a 5.2% growth in same-property net operating income (NOI). This growth was fueled by higher rents and improved occupancy rates, despite increased interest expenses from refinancing debt at higher rates.
Additionally, StorageVault’s strategic acquisitions have been accretive, with recent property purchases expected to enhance operating margins as occupancy improves. The company has achieved its annual acquisition target, acquiring $133 million worth of properties year-to-date. Furthermore, StorageVault’s stock trades at a discount to its net asset value (NAV) estimate, providing an attractive valuation compared to US self-storage REITs. These factors, combined with a stable dividend increase and a positive outlook for continued organic growth, underpin Rothschild’s Buy rating.