Share Name Share Symbol Market Type Share ISIN Share Description
Tritax Big Box REIT LSE:BBOX London Ordinary Share GB00BG49KP99 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.30p -0.21% 140.00p 139.80p 140.00p 141.00p 139.90p 140.30p 2,042,873 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 74.7 91.9 10.5 13.3 1,547.96

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Date Time Title Posts
27/4/201714:07Tritax Big Box REIT plc584.00

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Tritax Big Box (BBOX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-04-28 15:51:52141.002,4013,385.41O
2017-04-28 15:51:06140.0034,45648,238.40NT
2017-04-28 15:49:05140.6415,05921,178.78NT
2017-04-28 15:49:05140.657,15210,059.18NT
2017-04-28 15:36:33140.0086,610121,254.00O
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Tritax Big Box Daily Update: Tritax Big Box REIT is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker BBOX. The last closing price for Tritax Big Box was 140.30p.
Tritax Big Box REIT has a 4 week average price of 139.60p and a 12 week average price of 138p.
The 1 year high share price is 149p while the 1 year low share price is currently 114.50p.
There are currently 1,105,688,057 shares in issue and the average daily traded volume is 3,832,942 shares. The market capitalisation of Tritax Big Box REIT is £1,547,963,279.80.
jonwig: Citywire: A £200 million equity raise by property fund Tritax (BBOX), which invests in ‘big box’ large logistics warehouses, will help strengthen the income potential, says Jefferies. Analyst Mike Prew retained his ‘buy’ recommendation and target price of 165p on the stock after the company said it was seeking to raise £200 million of new equity at a share price offer of 136p to fund a pipeline of ‘attractive investment assets’, including three assets in advance negotiations. It currently has 36 assets and a commitment to forward funded developments for Howdens. Prew said the investment would spread the fixed operating costs over a large base. ‘At full-year 2016, the company detailed that the big box market remained strong with income growth potential,’ he said. ‘The tenant line-up reads like an AAA corporate bond portfolio with 25 assets of which 80% have been bought off market and the low-risk income trisected between the foundation assets of the portfolio, value add, and growth, and the longest income in the UK Reit sector with only 6% of rent expiring in five years.’
nimbo1: Firstly as they are trading above NAV, which means their shares are in demand - the company know they can access more money. From the companies perspective their aim is to keep growing bigger. This is the first time a raise has been conducted at a premium to the NAV which is also beneficial to existing holders, granted it doesn't move the needle much. (ignoring the short term inevitable fall in the share price). The share price will probably do what it always does, go down a bit and then recover as if they use the dosh well again it will be earnings enhancing per share.
nimbo1: Companies whose share price exceeds the NAV can never resist raising more money at or above the NAV. I'll be taking up my allocation.
skinny: FULL YEAR RESULTS Financial highlights · Dividends declared in relation to 2016 totalled 6.20 pence per share, in line with our target. Dividends fully covered by Adjusted earnings per share of 6.51 pence. · Total Shareholder return for the period was 15.1% (based on the increase in share price assuming dividends reinvested), as compared to the FTSE 250 Index, the FTSE All-Share REIT Index and the EPRA NAREIT UK index which delivered total returns of 6.7%, (7.0%) and (8.5%) respectively. · EPRA net asset value per share increased by 3.46% or 4.71%1 on a like-for-like basis to 129.00 pence at 31 December (31 December 2015: 124.68 pence). · Total return (being the increase in EPRA NAV plus dividends paid) for the year was 9.6%, compared to our medium-term target of 9% per annum. · Market capitalisation of £1.54 billion as at 31 December 2016. · Portfolio independently valued at £1.89 billion2 as at 31 December 2016 which includes all forward funded commitments. · The portfolio's contracted annual rent roll has increased to £99.66 million (31 December 2015: £68.37million), which includes all forward funded commitments. · Further diversified our sources of borrowing, with a new £72 million, long-term, fixed-rate facility with Canada Life. The Loan to Value (LTV) as at 31 December 2016 was 30.0%. · A reducing EPRA cost and total expense ratio of 15.8% and 1.06% respectively, reflecting the benefits of increased scale. · Raised £550 million of equity during 2016, through two substantially oversubscribed share issues. Operational highlights · Acquired 10 Big Boxes during the year with an aggregate purchase price of £524.4 million, further diversifying the portfolio by geography and tenant. · As at the year-end our portfolio comprised 35 assets, covering more than 18.2 million sq ft of logistics space. · Four forward funded pre-let developments reached practical completion in the year, with a total valuation of £272.8 million at 31 December 2016. · Average net initial yield of the portfolio at acquisition is 5.70%, against our year-end valuation of 4.93%. · Our portfolio was fully let, or pre-let and income producing during the year. · At the year-end, the weighted average unexpired lease term ("WAULT") was 15.3 years, against our target of at least 12 years. Post Balance Sheet Activity · Progressive dividend target of 6.40 pence per share announced for 2017. · Invested in the forward funded development pre-let to Hachette UK. · Agreed a new 10 year fixed term loan facility with a fixed rate payable of 2.54%pa. 1 Having stripped out the effect of the different timings of dividend payments between December 2015 and December 2016. 2 Excludes Howdens units II and III at Warth Park, Raunds. * Each year makes reference to 31 December.
skinny: TRADING UPDATE The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the following update ahead of the publication of the Company's results for the year ended 31 December 2016 (currently expected to be released on or around 8 March 2017). PORTFOLIO HIGHLIGHTS · A portfolio of £1,877 million (including forward funded commitments)1 invested in 35 Big Box assets let to 29 tenants · 33 standing assets and two pre-let forward funded developments, with a combined floor space of 18.2 million sq. ft. (of which 1.1 million sq. ft. is under construction) · Ten new investments made in 2016, with an aggregate purchase price of £524 million · Contracts exchanged on 23 December 2016 for two forward funded developments totalling £102 million, both pre-let to Howdens Joinery Group Plc, conditional on receiving planning consent. Planning consent is expected to be obtained in March 2017, which will further enhance the portfolio value · 80% of assets acquired off-market since inception with average purchase yield of 5.7% · Current weighted average unexpired lease term across the portfolio of 15.3 years2 · Portfolio 100% let with contracted annual rental income of £99.7 million as at 31 December 2016 · All leases provide for upward only rent reviews, of which 44% are open market, 35% are fixed uplift, 14% are RPI/CPI-linked and 7% are hybrid · High quality institutional grade tenant mix with strong financial covenants - 81% of tenants are listed PLCs (61% in the FTSE 100 or FTSE 250)3 · Strong price resilience observed in the industrial logistics sector with modest capital value improvement during H2 2016 · Strong pipeline of attractively priced, off-market investment opportunities identified with several properties currently under offer FINANCIAL HIGHLIGHTS · Progressive dividend policy with target dividend of 6.2p per share for the year ended 31 December 2016, of which 4.65p per share has been paid for the nine months ended 30 September 2016 · Share price total return of 15.1% over 2016 compared to 10.2% for the FTSE EPRA/NAREIT UK Index over the same period4 · Extension of the Investment Management Agreement ("IMA") (earliest termination date of 31 December 2021), between the Company and the Manager, Tritax Management LLP, has resulted in a reduction of the management fee at new upper bands and lowers the Company's total expense ratio. · Successful oversubscribed £350 million equity issue in October 2016 · £691.5 million of committed debt financing in place of which £541.5 million is currently drawn (30% LTV) · Weighted average term to maturity of debt facilities of 4.8 years as at 31 December 2016, increasing to 5.6 years with extension options · Current blended margin payable of 1.43% above three month LIBOR or the referenced GILT rate and a weighted average capped cost of borrowing of 2.82% · Market capitalisation of £1,542 million4; FTSE 250, FTSE EPRA/NAREIT and MSCI index constituent · £3.5 million average daily traded value in 2016; £5.2 million average daily traded value post the October 2016 equity raise5 more.....
scbscb: Even if the share price does fall to the placing price, it would still be cheaper to pick up in the placing because you would save on stamp duty and commission.
anley: Are you able to spell please? The reaction to the share price is quite typical when a placing/rights issue is announced..........the price will also reflect ex-divided soon and the announcement as to how much has been taken up will drive the price back up to 140 early in the new year provided Trump has not declared world war!!!!!
tyranosaurus: Last time I was not a shareholder and still got most of the shares I applied for. Could be a better bet than buying now, but that is anybody`s guess. Looking at the share price chart shows that February`s offer was only a short term blip in the share price.
izztre: Positive update. Can't see any bad news. However can't predict the share price at open!
wirralowl: Considering we have a placing in the offing, and the general state of the market, the share price performance here is very impressive.
Tritax Big Box share price data is direct from the London Stock Exchange
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