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Parkit Enterprise ( (TSE:PKT) ) has provided an update.
Parkit Enterprise Inc. has completed the sale of a portfolio of six industrial properties in Winnipeg, Manitoba, to a subsidiary of PRO Real Estate Investment Trust for $96.5 million. As part of the transaction, Parkit received $40 million in PROREIT units, representing a 9.6% ownership interest. This strategic move enhances Parkit’s investment portfolio and establishes a significant partnership with PROREIT, allowing Parkit to nominate a trustee to PROREIT’s board, potentially leading to future collaborative 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 the acquisition, growth, and management of strategically located industrial properties across key urban markets in Canada. Additionally, Parkit holds parking assets across various markets in the United States. The company’s common shares are listed on the TSX Venture Exchange under the symbol PKT.
Average Trading Volume: 163,205
Technical Sentiment Signal: Sell
Current Market Cap: C$109M
Find detailed analytics on PKT stock on TipRanks’ Stock Analysis page.