Contract Parking Volume Increase
Contract parking volumes increased 1.4% sequentially and 8% year to date, indicating a positive trend in long-term pricing power and utilization.
Residential Parking Growth
Residential monthly contracts increased approximately 75% year over year and are up nearly 60% since year-end, showing strong demand and providing a stable base of recurring income.
Positive Trends in Cleveland
Cleveland experienced transient growth of 8% over the previous year’s third quarter, with residential and commercial monthly contracts up over 50% year over year.
Successful Asset-Backed Securitization
Completed a $100 million refinancing via an asset-backed securitization of 19 facilities, extending maturities to 2030 and increasing capital flexibility.
Share Repurchase Program
Repurchased over 1 million shares at an average price of $3.36 per share, indicating strong financial management and confidence in company valuation.