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Parkit Enterprise ( (TSE:PKT) ) has issued an update.
Parkit Enterprise Inc. has agreed to sell a portfolio of six industrial buildings in Winnipeg to PRO REIT Limited Partnership for $96.5 million, with approximately $40 million of the proceeds in the form of PROREIT units. This transaction will result in Parkit holding a 9.6% ownership interest in PROREIT and entering into a strategic relationship with them, including investor rights and board representation. The sale is expected to enhance Parkit’s market positioning by strengthening its ties with PROREIT, allowing for potential future growth opportunities.
The most recent analyst rating on (TSE:PKT) stock is a Buy with a C$0.80 price target. To see the full list of analyst forecasts on Parkit Enterprise stock, see the TSE:PKT Stock Forecast page.
More about Parkit Enterprise
Parkit Enterprise Inc. is an industrial real estate platform focused on acquiring, growing, and managing strategically located industrial properties across key urban markets in Canada. Additionally, Parkit holds parking assets across various markets in the United States.
Average Trading Volume: 92,401
Technical Sentiment Signal: Sell
Current Market Cap: C$82.07M
Find detailed analytics on PKT stock on TipRanks’ Stock Analysis page.