Tritax Eurobox Share Discussion Threads

[williamcooper104] 19/5/2024 22:10

Plus before it was a case of EBOX might cut the divi a little but you'd still have a good yield whereas if they cut it now then the yield wouldn't be so great

[williamcooper104] 19/5/2024 22:09

Yep agree with all of that Look at SHED, it's valued at not a lot much more of a multiple than EBOX And while EBOX may avoid a divi cut it's not going to raise it any time soon Did sell a little; will look at reducing further Although with management expenses being 24% of rent, SGRO or a US REIT could take it over

[hpcg] 18/5/2024 17:03

I agree Sky. I closed my spread bets on results day. There is a much bigger world than just REITs and there are plenty of opportunities for making money, no point leaving it where there isn't obvious good value.

[skyship] 18/5/2024 13:40

These are a good long-term HOLD. But after the recent 25% recovery the gloss has come off the overwhelming value. So, out for the time-being; but looking to be back in again soon. Of the continentals CLI & SERE currently better buys.

[nickrl] 17/5/2024 14:09

HY results favourable and even with recent disposals the NRI and resulting free cash flow covers the dividend easily. They've also paid back the RCF which gives them a bit more cover but burning platform here is that Green bond at a never to be repeated sub 1% rate so need a few more disposals to reduce the 500m to something more manageable.

[1knocker] 17/5/2024 11:33

I think it is just a case of getting in phase with the interest rate cycle. I am out of pocket on REIT purchases i made when interest rates were on the floor, nicely in profit on those i have bought after they rose and whose balance sheets looked sound whwn money was no longer free.

My mistake lay in not selling weaker companies as soon as it was clear that the interest rate season was turning.

[skinny] 16/5/2024 16:21

I was fleetingly back in profit earlier.

[lord gnome] 16/5/2024 14:52

Good decision Skyship. The market is quite clearly unimpressed. Looks like my LTH just got a bit longer.

[skyship] 16/5/2024 08:07

NAV 82.4p - slightly lower than I was looking for. Decided to take the profits...

[williamcooper104] 14/5/2024 15:00

Yep - that's the relevant calculation for sterling holders

[williamcooper104] 14/5/2024 15:00

Again - who cares - they lost money as indeed they would have buying a low yielding asset a few years ago and selling it today

[williamcooper104] 14/5/2024 14:59

Broadly in line does suggest a tiny discountBig deal; all values are just estimates and anything trading a little over or under is in line

[misterd1] 14/5/2024 12:31

Agree with virtually all today's posts -

broadly in line is a cop out,

ROC should have been disclosed, but

the reduction in debt is welcomed

[makinbuks] 14/5/2024 10:20

I agree Bagpuss, "broadly in line" just sounds such a blatant cover up as is the absence of any comment on ROC on the deal. Never the less, further debt reduction selling assets in the region of published NAV is welcome. They just need to hunker down and concentrate on getting rents higher to secure the dividend post refi

[fordtin] 14/5/2024 09:22

re post #1539

to convert to sterling, shouldn't you use the prevailing rates at the time of each transaction?

one SEK was about 8.5p in June 2021, its now ~7.35p

[wskill] 14/5/2024 09:07

Yes its a small mature asset no redevelopment potential , asset value per share is still 84p after this sale plus a 8% yield.
NAV has fallen from 145p to 84p in this time frame since it bought this asset.

[advfndean] 14/5/2024 08:39

Ouch, lost a packet on that deal. Bought in June 2021 for SEK474M and have just sold for SEK385M = SEK89M / £6.5M loss.

[cwa1] 14/5/2024 08:27

Because they don't like to admit it was SLIGHTLY less than the September valuation? ;-)

[bagpuss67] 14/5/2024 07:44

Maybe it's commercially sensitive?

[holts] 14/5/2024 07:35

Why state broadly in line ? Just give the figures .

[williamcooper104] 13/5/2024 10:32

4.5 to 4 NIY is 12.5% capital value uplift

[assetbackedvalue] 13/5/2024 09:48

Care to explain your methodology?

[skyship] 13/5/2024 09:31

Thoughts - indeed, sorry, but total tosh - "50bps lower yield corresponds to 12% higher property valuations"

You'll see the NAV on Thursday - c85p.