TRG | The Bottom Line – 3/12

On the heels of the passage of a $1.9 trillion stimulus relief package and as vaccines continue to roll out across the U.S., the stock market has been hitting record highs. 2020 saw meteoric rises in tech and healthcare sectors as the nation locked down during the COVID crisis. As the economy gingerly opens back up, there has been a greater focus on “old world” sectors, ones that will benefit from a residential “super cycle” and an a hold host of other secular trends that have come in the wake of COVID-19. Against that backdrop, TRG initiated coverage on WillScot Mobile Mini Holdings (WSC), the largest provider of modular space and portable storage leasing solutions. The need for these units have been and we think will continue to be diverse, ranging from flexible mobile spaces (think COVID-19 testing facilities) to managing overflow from congested U.S. ports (check out what TRG had to say about that on CNBC last week – click here).