Parkit Enterpris Stock Price, News & Analysis

Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property in Edmonton, Alberta from an arm's length vendor. The acquired property is a fully-leased multi-tenant industrial building featuring approximately 100,000 square feet of gross leasable area situated on 5.2 acres of land.

The property maintains a weighted average lease term of 3.2 years. According to CEO Iqbal Khan, this strategic acquisition provides immediate cash flows, potential for rent increases, and marks Parkit's entry into the Edmonton market, where the company sees growth opportunities.

Parkit Enterprise (TSXV: PKT) has completed the sale of six industrial properties in Winnipeg, Manitoba to PROREIT (TSX: PRV.UN) for $96.5 million. The transaction includes $40 million in PROREIT units, consisting of 3,776,613 trust units and 2,675,000 Class B LP Units at $6.20 per unit.

The portfolio comprises 678,177 square feet of gross leasable area. Through this deal, Parkit acquires an approximate 9.6% ownership stake in PROREIT. The agreement includes investor rights such as pre-emptive rights, registration rights, and board nomination rights, with Parkit's Chairman Steven Scott joining PROREIT's board of trustees.

Parkit Enterprise Inc. has agreed to sell a portfolio of six industrial buildings in Winnipeg, Manitoba to PRO REIT Limited Partnership for $96.5 million. The transaction includes:

- 678,177 square feet of gross leasable industrial area

- Approximately $40 million of the proceeds will be in PROREIT units at $6.20 per unit, totaling about 6.45 million units

Following the deal, Parkit will own approximately 9.6% of PROREIT. The agreement includes investor rights such as pre-emptive rights, registration rights, and board nomination rights, with Steven Scott, Parkit's Chairman, joining PROREIT's board. The transaction is expected to close in Q2 2025.

Parkit Enterprise (PKTEF) reported strong Q1 2025 results with significant growth across key metrics. The company acquired a new industrial property in Boisbriand, Quebec for $10.3 million, spanning 62,680 square feet on 2.5 acres. Financial highlights include an 18% increase in investment properties revenue to $7.12 million and a 21% rise in net rental income to $4.89 million. The company achieved impressive leasing activity, renewing 68,000 square feet at 24% higher rates and signing new leases for 43,000 square feet. FFO grew by 22% to $1.68 million, while same-property NOI increased by 10%. Despite these operational improvements, Parkit reported a net loss of $1.52 million, primarily due to unrealized losses from derivative instruments and increased finance costs. The company maintains a strong balance sheet with over $3.1 million in cash and 94% fixed-rate debt.

Parkit Enterprise (TSXV: PKT) has received conditional approval from the TSX Venture Exchange to renew its Normal Course Issuer Bid (NCIB). The new NCIB program will allow Parkit to purchase and cancel up to 11,088,361 common shares, representing 5% of outstanding shares, between March 28, 2025, and March 27, 2026.

The share purchases will be executed through TSX Venture Exchange or alternative trading systems, with National Bank Financial Inc. serving as the agent. Purchase prices will align with prevailing market rates, funded through available cash. Under the previous NCIB program ending March 27, 2025, Parkit acquired 5,819,130 common shares out of the authorized 11,394,158 shares.

The Board believes the current market price may not reflect the shares' underlying value and views the NCIB as an appropriate use of funds to create shareholder value.

Parkit Enterprise (TSXV: PKT) has reported its fiscal 2024 annual results, showing significant growth across key metrics. Investment properties revenue increased 26% to $26.04M, while net rental income rose 33% to $17.79M for the year ended December 31, 2024.

The company demonstrated strong leasing activity, signing 187,855 square feet of new leases at market rates and renewing 156,843 square feet with a 58% weighted average rental growth. Funds from operations (FFO) grew 64% to $6.75M.

Notable achievements include:

• Stabilized Comparative Properties NOI increased 17% to $10.30M
• Acquired 2 industrial properties totaling $15.8M with 222,640 square feet
• Maintained strong liquidity with over $5M in cash and cash equivalents
• 95% of debt is fixed
• Completed acquisition of remaining interest in Z Airport Parking for $2.3M

Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property in Boisbriand, Quebec for $10,250,000. The acquired asset, located at 1650 Boulevard Lionel-Bertrand, features approximately 62,680 square feet of gross leasable area on 2.5 acres of land. The property currently has two tenants with a Weighted Average Lease Term (WALT) of 9.3 years.

The purchase was financed through a combination of a first mortgage on the property and existing funds. The acquisition strengthens Parkit's presence in Quebec, being situated near their existing assets, and is expected to provide strong in-place cash flows and rental growth potential.

Parkit Enterprise (TSXV: PKT) has announced the issuance of 1,588,500 stock options to directors, officers, employees, and consultants. The options are exercisable at $0.60 per share and will expire on the tenth anniversary of issuance. Of the total options granted, 1,125,000 were allocated to directors and officers. The options vested immediately upon grant. The company is utilizing exemptions from formal valuation and minority approval requirements under Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9 for this issuance.

Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property at 1650 Comstock Rd, Ottawa, for $9.5 million. The acquired asset features a 140,000 square foot building situated on 2.8 acres of land. The property is currently tenanted and strategically located near Parkit's existing assets. The purchase is being financed through a combination of a first mortgage and available cash reserves. The acquisition aims to strengthen Parkit's Ottawa portfolio while providing strong cash flows and potential rental growth opportunities.