01:44 PM EDT, 05/13/2025 (MT Newswires) -- National Bank of Canada on Tuesday reiterated its sector-perform rating on the units of PRO Real Estate Investment Trust (PRV-UN.TO) and its $5.00 price target after the REIT agreed to acquire six properties in Winnipeg, Manitoba.

PROREIT on Tuesday agreed to buy a 100% interest in a portfolio of six high-quality industrial properties in Winnipeg for about $96.5 million, excluding closing costs, from Parkit Enterprise ( PKTEF ) .

The bank said the purchase increases the REIT's industrial composition to 83% of base rent (from 81%) while improving portfolio scale and doing so accretively without materially moving leverage. The bank added that, according to its numbers, the transaction is around 1% accretive to earnings, has a negligible impact on net debt / EBITDA forecasts and the equity issued to the vendor is priced at roughly the bank's net asset value (NAV) estimate.

The bank said the transaction also establishes a strategic relationship with Parkit ( PKTEF ), that could be leveraged for future growth.

Price: 5.11, Change: +0.02, Percent Change: +0.39