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PRO Real Estate Investment ( ($TSE:PRV.UN) ) has provided an update.
PROREIT reported stable net operating income for the fourth quarter and fiscal year 2024, despite owning fewer properties. The company achieved a 7.7% year-over-year growth in Same Property NOI, driven by strong leasing performance and rent escalations. PROREIT’s strategic property sales and acquisitions, along with effective debt management, highlight its ability to navigate a high-interest-rate environment, maintaining a high occupancy rate of 97.8% and reducing total debt by $16.7 million.
More about PRO Real Estate Investment
PRO Real Estate Investment Trust (PROREIT) operates in the real estate industry, focusing primarily on industrial properties. The company is listed on the Toronto Stock Exchange under the symbol PRV.UN and is known for managing a portfolio that emphasizes stability and resilience in generating net operating income.
YTD Price Performance: -3.67%
Average Trading Volume: 52,564
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$302.6M
Learn more about PRV.UN stock on TipRanks’ Stock Analysis page.