Business
Parkit Enterprise Reports Q1 2026 Results
Toronto, Ontario--(Newsfile Corp. - May 7, 2026) - Parkit Enterprise Inc. (TSXV: PKT) ...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"Parkit Enterprise Reports Q1 2026 ResultsToronto, Ontario--(Newsfile Corp. - May 7, 2026) - Parkit Enterprise Inc. (TSXV: PKT) (\"Parkit\" or the \"Company\"), today reported the Company's first quarter 2026 results. Steven Scott, Chair of Parkit, commented:\"Parkit achieved 5% same property NOI growth and 38% FFO growth while executing on a disciplined capital allocation strategy. Operationally, we signed approximately 45,000 square feet of new leases and renewed nearly 30,000 square feet of leases at market rates with an average increase in lease rate of approximately 21%, demonstrating continued demand for our industrial portfolio. With 92% of our debt being fixed and strong liquidity, we are well positioned to pursue disciplined acquisitions and further grow revenue, NRI and FFO in the upcoming year.\"2026 Q1 Results and Recent Business HighlightsRevenue, net rental income and investment income. Investment properties revenue and net rental income increased as the Company increased its investment properties, signed new leases and streamlined operations. Investment properties revenue for the three months ended March 31, 2026 decreased by 17% to $5,903,426, compared to $7,121,141 for the three months ended March 31, 2025. Net rental income (\"NRI\"), decreased by 15% to $4,142,437, for the three months ended March 31, 2026 compared to $4,886,036 for the three months ended March 31, 2025. The difference in total revenue and net rental income is a result of the change in the number of investment properties held and the investment income received from Parkit's investment in PROREIT.The revenue relating to investment properties not sold was $5,903,426 for the three months ended March 31, 2026, compared to $4,999,069 for the three months ended March 31, 2025. The net rental income relating to the investment properties not sold was $4,142,437 for three months ended March 31, 2026 compared to $3,628,026 for the three months ended March 31, 2025. The increase in net rental income from investment properties owned is due to lease renewals, new leases at market rates, and new acquisitions made by the Company.Stabilized comparative properties NOI. Stabilized Comparative Properties NOI, a Non-IFRS Measure, increased by 5%, to $3,392,590, for the three months ended March 31, 2026 compared to $3,233,183, for the three months ended M...