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Parkit Enterprise Inc. - PKTEF STOCK NEWS

Welcome to our dedicated page for Parkit Enterprise news (Ticker: PKTEF), a resource for investors and traders seeking the latest updates and insights on Parkit Enterprise stock.

Parkit Enterprise Inc. (PKTEF) is an industrial real estate platform focusing on strategically located industrial properties in key urban markets in Canada. The company also manages parking assets in various U.S. markets. With recent acquisitions and strong financials, Parkit continues to enhance its net rental income and margins while prioritizing growth and disciplined acquisitions. Contact Investor Relations for more information.

News

Parkit Enterprise Reports Q1 2024 Results

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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.

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Parkit Completes Acquisition of Industrial Asset in Winnipeg

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Parkit Enterprise Inc. completes the acquisition of industrial asset in Winnipeg, Manitoba, for $6.3 million, enhancing its portfolio and potential rental growth.
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Parkit Announces Normal Course Issuer Bid

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Parkit Enterprise Inc. (PKTEF) has received conditional acceptance from the TSX Venture Exchange to renew its Normal Course Issuer Bid (NCIB) to repurchase up to 11,394,158 common shares over a 12-month period, aiming to enhance shareholder value by leveraging available cash. The repurchase will be executed through the TSX Venture Exchange or alternative trading systems, with National Bank Financial Inc. acting as Parkit's agent. The repurchase price will be based on prevailing market prices, reflecting Parkit's belief that its shares are undervalued.
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Parkit Enterprise Reports Fiscal 2023 Annual Results; Highlighting Acquisitions; Provides 2024 Outlook

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Parkit Enterprise Inc. reported its full-year 2023 audited results, showcasing significant growth in investment properties revenue, net rental income, and funds from operations. The company saw a substantial increase in revenue and income, with a strong liquidity position and successful acquisitions. Despite a net loss for the period, Parkit remains focused on disciplined acquisitions and revenue growth.
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Parkit Announces Grant of Options

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Parkit Enterprise Inc. (PKT) announced the issuance of 2,228,500 options to certain directors, officers, employees, and consultants under its option plan. The options are exercisable into one common share at an exercise price of $0.63 and vested on grant. 1,790,000 options were granted to directors and officers of Parkit. The company relied on exemptions from formal valuation and minority approval requirements for the issuance of these options.
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Parkit to Acquire Industrial Asset in Winnipeg

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Parkit Enterprise Inc. (TSXV: PKT) to acquire industrial building in Winnipeg, Manitoba for $6.5 million. The property includes an 82,400 square feet building on 4.6 acres of land, with potential rental growth and close proximity to Winnipeg Richardson International Airport. The acquisition is expected to close in Q1 of 2024.
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Parkit Enterprise Reports Q3 Results

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Parkit Enterprise Inc. (TSXV: PKT) reported Q3 2023 results, showing significant revenue and net rental income growth through successful negotiations with new and existing tenants. Industrial properties revenue and net rental income rose 99% and 95%, respectively, to $5,671,599 and $14,900,662. The Company maintained a strong liquidity position with over $5,000,000 in cash and cash equivalents. Funds from operations (
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Access Results Management Services Inc. Purchases 3,000,000 Common Shares of Parkit Enterprise Inc.

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Parkit Enterprise Inc. (TSXV: PKT) announced that Access Results Management Services Inc. (ARMS) has acquired 3,000,000 common shares of Parkit on the open market for $0.68 per share, representing a total purchase price of $2,040,000. This acquisition now gives ARMS a 1.30% ownership stake in Parkit, with joint actors Steven Scott and SRS Realty Group Inc. owning a combined 13.44% ownership stake. ARMS has stated that it currently has no plans for further acquisitions but may consider it in the future based on market conditions.
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Parkit Enterprise Reports Q2 Results

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Parkit Enterprise Reports Q1 Results

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FAQ

What is Parkit Enterprise Inc. focused on?

Parkit is primarily focused on acquiring and managing industrial properties in strategic locations in Canada.

Where does Parkit Enterprise Inc. have parking assets?

Parkit also manages parking assets in various markets across the United States of America.

How does Parkit plan to increase revenue and FFO for the upcoming year?

Parkit aims to continue being disciplined on acquisitions and maximize cash flows on its industrial portfolio.

What recent acquisition did Parkit Enterprise Inc. complete?

Parkit recently completed the acquisition of an industrial asset in Winnipeg, Manitoba, further enhancing its portfolio.

How does Parkit Enterprise Inc. plan to create shareholder value?

Parkit believes that repurchasing its Common Shares under the NCIB program is an appropriate use of funds to create shareholder value.

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Parkit Enterprise Inc.

OTC:PKTEF

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PKTEF Stock Data

108.27M
142.73M
38.3%
22.95%
Facilities Support Services
Administrative and Support and Waste Management and Remediation Services
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United States of America
Toronto