Storagevault Canada Inc

SVI

Equity

ISIN CA86212H1055 / Valor 3493765

Toronto Stock Exchange (2024-12-24)

CAD 3.90-0.76%

Storagevault Canada Inc
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About company

StorageVault Canada Inc is the largest storage provider in Canada, with over 243 locations across the country. The company owns and operates 212 of these locations, along with over 5,000 portable storage units, representing over 11.8 million rentable square feet. StorageVault offers a variety of storage solutions under different regional brands, including Access Storage, Sentinel Storage, Depotium Mini-Entrepôt, and Cubeit Portable Storage. In addition to traditional storage services, StorageVault also provides last mile storage and logistics solutions through FlexSpace Logistics, as well as professional records management services through RecordXpress, catering to businesses, legal firms, healthcare institutions, and government sectors in Canada. With a focus on security, convenience, and peace of mind, StorageVault's platform is built on the latest technology to ensure the safety of customers' belongings.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

StorageVault Canada Inc. reported a revenue increase for the second quarter of 2024, reaching $74.1 million compared to $71.3 million in Q2 2023. This growth reflects the company's ability to enhance its financial performance despite market challenges.

Net Operating Income

For Q2 2024, StorageVault Canada Inc.'s net operating income (NOI) grew to $49.9 million from $48.4 million in the same period last year. This increase in NOI demonstrates the company's effective management of its storage operations and cost controls.

Adjusted Funds from Operations

StorageVault Canada Inc. reported an 8.1% increase in adjusted funds from operations (AFFO) for Q2 2024, reaching $23.2 million compared to $21.5 million in Q2 2023. On a per basic common share basis, AFFO increased by 9.4%, highlighting the company's improved financial efficiency.

Six Months Year to Date Results

For the six months ended June 30, 2024, StorageVault Canada Inc. saw its revenue increase to $145.5 million from $138.7 million in the same period last year. The company's NOI for this period also grew to $94.2 million from $91.0 million, reflecting a 3.5% increase year over year.

Dividend Increase

StorageVault Canada Inc. announced an increase in its quarterly dividend by 0.5% beginning Q3 2024, raising it to $0.002917 per common share. This decision underscores the company's commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

-23.7%1Y

-41.8%3Y

6.85%5Y

Performance

26.3%1Y

29.9%3Y

34.1%5Y

Volatility