One company here in Canada, StorageVault Canada (SVI.V) has had a ton of success during the pandemic. This is a company we've been looking at for a while, but have always avoided simply due to valuations. But, it continues to impress.
In terms of publicly traded storage companies here in Canada, pureplay storage companies that is, SVI is one of your only options. And in terms of valuation, my thoughts remain the same. This is a company that is pretty expensive. It is trading at 47X trailing cash flow, 13 times trailing sales and nearly 40 times EV/EBITDA.
I think the margin of safety and room for error is very thin here. A slowing of growth coming out of the pandemic will very likely have the market reassessing what it is willing to pay for a company like SVI. However, the company could continue to put up impressive growth and acquisitions and continue to climb.
It is a high quality company that is commanding a extremely rich valuation right now.