Parkit Enterpris Stock Price, News & Analysis

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.

Parkit Enterprise reported Q3 2024 results showing significant growth in multiple areas. Investment properties revenue increased 18% to $6.7M for Q3 and 28% to $19.1M for the nine months ended September 30, 2024. Net rental income grew 19% to $4.5M for Q3 and 35% to $12.8M for the nine-month period. The company renewed 70,491 square feet of leases with a 42% rate increase and signed new leases for 35,728 square feet. Funds from operations (FFO) rose 45% to $1.8M in Q3. Despite these operational improvements, the company reported a net loss of $2.1M for Q3 2024. Parkit maintains a strong liquidity position with over $7.7M in cash and cash equivalents.

Parkit Enterprise Inc. (TSXV: PKT) reported its Q2 2024 results, showing significant growth. Key highlights include:

- Investment properties revenue increased 12% to $6,332,263 for Q2 2024
- Net rental income rose 20% to $4,256,765 for Q2 2024
- Stabilized comparative properties NOI grew 16% to $2,602,549 for Q2 2024
- Funds from operations (FFO) increased 48% to $1,509,102 for Q2 2024

The company maintained a strong liquidity position with over $5.1 million in cash and cash equivalents. Parkit renewed 86,000 square feet of leases at 86% higher rates and signed a new 25,000 square feet lease. The company expects to increase revenue, NRI, and FFO in the upcoming year.

Parkit Enterprise Inc. (TSXV: PKT) reported strong Q1 2024 results with significant increases in investment properties revenue and net rental income. The company's FFO saw a 211% increase, showcasing growth in its core business. Parkit maintained a solid liquidity position with over $11.2 million in cash and cash equivalents. The acquisition of an industrial warehouse in Winnipeg demonstrates the company's commitment to strategic expansions. Parkit's focus on ESG initiatives and market rental spreads highlights its dedication to sustainable growth.