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
  -0.20p -0.14% 146.90p 146.70p 146.90p 147.70p 146.40p 147.10p 2,860,958 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 107.9 247.8 19.5 7.5 2,164.66

Tritax Big Box Share Discussion Threads

Showing 876 to 900 of 900 messages
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DateSubjectAuthorDiscuss
12/10/2018
07:20
Acquisition FORWARD FUNDED INVESTMENT IN A NEW PRE-LET LOGISTICS FACILITY AT MIDLANDS LOGISTICS PARK, CORBY, FOR £89.3 MILLION The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the Company has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new National Distribution Centre at Midlands Logistics Park ("MLP"), Corby. The property is pre-let to BSH Home Appliances Limited ("BSH"), part of the Bosch Group. The Bosch Group is the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide with high quality brands that include Bosch, Gaggenau, Neff and Siemens. The development represents an investment of £89.3 million, reflecting a net initial yield of 5.2% (net of acquisition costs to the Company). The property will comprise a cross-docked facility with 360-degree circulation, a minimum eaves height of 15 metres, together with extensive parking and a site cover of approximately 50%. The new prime facility will be purpose-built to a high specification with a gross internal area of c. 945,375 sq ft; it will become BSH's largest UK distribution centre. The site, situated adjacent to the pre-let Eddie Stobart Limited property owned by the Company, forms part of MLP, a new logistics park to the south of Corby. The property benefits from direct access onto the A43 dual carriageway, which has recently been upgraded, thereby providing improved access to the M1 southbound, the M6 and A1(M) via the A14 dual carriageway. MLP is capable of potentially accommodating approximately 5 million sq ft. of logistics space and benefits from a 500-metre rail siding and yard for a potential future connection onto the rail freight network. This potential bi-modal connection for MLP would provide enhanced connectivity for the site to the UK's ports and cities. Corby has attracted a number of major occupiers including Eddie Stobart, Wincanton, Matalan and Morrisons. Upon practical completion of the construction, targeted for Autumn 2019, the property will be let to BSH on a new 10-year lease, subject to five yearly upward only rent reviews indexed to the Retail Price Index, subject to a cap and collar. From completion of the land purchase and during the construction phase, the Company will receive an income return equivalent to the rent. more.....
skinny
04/10/2018
10:28
Not for me - I never buy anything that is trending down
davr0s
04/10/2018
10:20
Was also written up on iii on the 2nd Oct: www.ii.co.uk/analysis-commentary/stockwatch-defensive-high-yielder-buy-ii506870/
belgraviaboy
04/10/2018
10:09
Good opportunity to add below NAV here
belgraviaboy
03/10/2018
11:01
02 Oct 18 Barclays Capital Equal weight 147.35 - 160.00 Initiates/Starts
skinny
02/10/2018
07:35
A new £250m short-term debt facility: a term of 12 months, with an option to extend by a further six months, at the sole option of the Company. Strongly suggests this is bridging finance ahead of a new equity fundraising next year to repay the debt. About 11% of the equity will probably need to be raised which looks like an open offer to me.
jonwig
28/9/2018
16:08
Acquisition at yield of 4.9% which doesn`t excite me very much. After a 3% rent increase at the first review this goes up to 5.4%. I fail to see how the maths works for this.
tyranosaurus
26/9/2018
09:05
I think the fundraisings will slow. I seem to remember that TR Property wrote that they had asked BBOX to slow down the issue of equity and BBOX have suggested the next round will be debt financed. Looks good value to me here, trading around NAV.
belgraviaboy
10/8/2018
15:28
Speedsgh Thank you for Post 875 Do you happen to have the prices of the fundraisings?
sleepy
10/8/2018
10:22
Would be a good AGM question as to whether they see a slowdown after reaching a certain size. They may also become a stage, one way or another where it becomes harder to get the placings away so makes sense to do them while they can.
rustle2
09/8/2018
16:34
Hi jonwig. Yes, my suspicion re another fundraising was based partly on their comment in today's rns re currents funds being fully deployed relatively soon and partly on their previous history of tapping the market at regular intervals. I see no sign of them reducing that appetite in the near future although you would like to think it would slow/cease at some point. Maybe not before year end for the next round but certainly by next spring. Aimho Apr 2018 (£155.6m placing) May 2017 (£350m placing/open offer/offer for subscription) Sep/Oct 2016 (£350m placing/open offer/offer for subscription) Jan/Feb 2016 (£200m placing/open offer/offer for subscription) Jun 2015 (£54m placing) Mar 2015 (£175m placing/offer for subscription) Nov 2014 (£110m placing) Jun/Jul 2014 (£150m placing/open offer/offer for subscription) May 2014 (£20m placing) Admission: Dec 2013
speedsgh
09/8/2018
15:26
@ gwsredland - I guess it will move with the market but better than the property sector (so, flat in my view). Their debt is cheap, and much lower than their normal level. I can't find any reference to future fundraising, but they say they will have deployed the last one pretty soon. I hope they will hold off, as opportunities won't be cheap in one of the better property sectors.
jonwig
09/8/2018
15:17
Probably a bit further to fall but I would like to add!
gswredland
09/8/2018
14:49
Liberum Capital Hold 152.45 165.00 - Reiterates
skinny
09/8/2018
14:24
Sounds like business as usual although the tone is maybe a bit more cautious e.g. "We feel that Brexit does not yet appear to be affecting occupier demand for Big Box space significantly...". Previous results perhaps seemed more confident about demand outlook and talked about Brexit silver linings
angusf77
09/8/2018
12:11
@jonwig - In most cases I find companies' share price movements on the day of results releases illogical/arbitrary/meaningless. I see nothing in today's BBOX results out of the ordinary & therefore will not be lingering over them for too long. Expect another fundraising round before year end, nothing new there.
speedsgh
09/8/2018
11:59
Following my request, FT Markets Live: Tritax Big Box Reit PLC (BBOX:LSE): Last: 152.60, down 2.4 (-1.55%), High: 155.00, Low: 152.55, Volume: 587.76k 11:48 am DM Liberum, holders 11:48 am DM H1 results confirm a modest half year for Tritax with NAV +3% to 146p, in line with of our forecast and the dividend +5%, also in line and fully covered by earnings. Management continue to deploy capital following the recent ~£160m raise with a focus on forward funded development and current commitments expected to take the LTV back to the target 35%. Tritax’s long let income, backed by significant tenant investment and a strong structural tailwind is attractive at a marginal discount to industrial peers, but less exposure to the faster growing South is now more visible. The shares trade on a CY18E P/NAV of 1.03x vs the UK Real Estate sector on 0.90x and yield 4.3%. 11:48 am DM Industrial boxes a great business 11:49 am DM But the market knows that In other words, nothing to give an upward shove.
jonwig
09/8/2018
11:54
@ speedsgh - well, I can't find anything in these results to explain why it should underperform the sector and the wider market today. High street woes are pretty irrelevant I think. Brexit? They once said they would benefit! Weaker sterling might deter e-commerce in general, as consumers feel stretched.
jonwig
09/8/2018
11:19
The market is not impressed as the shares are currently down 2p. The dividend has just about been covered. Admin expenses have risen sharply and there is no breakdown in the accounts (that I could see) I continue to hold for the dividends and this is still a very safe stock.
tyranosaurus
09/8/2018
08:40
Interim Results cont'd... Richard Jewson, Chairman of Tritax Big Box REIT plc, commented: "The Group has an exceptional portfolio and is well positioned to take advantage of the changing dynamics in the logistics market, in particular technical innovation in the form of e-commerce. This is affecting fortunes on the high street with a number of well-publicised retailers having succumbed to a challenging trading environment. Despite the depreciation of Sterling having made imports more expensive, we feel that Brexit does not yet appear to be affecting occupier demand for Big Box space significantly. We expect to see continued healthy occupier requirements for well-located logistics buildings which enable occupiers to remain competitive by delivering economies of scale benefits, cost savings and improved operational efficiencies. Market rental growth remains ahead of underlying inflation and we believe that trend will continue in the near term. This supports the continued strong investment demand for UK logistics assets which produced further yield compression in the first half of this year. We are well capitalised and this will allow us to continue to add high-quality assets to the portfolio selectively. We expect to continue to do so at attractive prices. Our pipeline of identified investments, forward funded developments and land is strong. We have under offer opportunities which, assuming they proceed to completion, would see our last equity raise fully invested on a geared basis. Our high-quality income is now well matched against longer-term fixed or hedged debt which provides further comfort to our ambition to grow our dividend. The Company is well placed to continue to benefit from its strong position in the market and deliver attractive returns to our Shareholders."
speedsgh
09/8/2018
08:37
Interim Results for six months ended 30 June 2018 - HTTPS://www.investegate.co.uk/tritax-big-box-reit--bbox-/rns/interim-results-for-six-months-ended-30-june-2018/201808090700092669X/ Financial highlights · Fully covered dividends declared for the six-month period of 3.35 pence per share, putting the Company on track to hit its full-year target of 6.70 pence1. · Adjusted earnings per share for the six-month period of 3.38 pence per share2, an increase of 5.3% over H1 2017. · EPRA net asset value ("NAV") per share increased by 3.98 pence or 2.8% to 146.22 pence as at 30 June 2018 (31 December 2017: 142.24 pence). · Total return for the period was 5.10%, comparing well against the Company's medium-term target of at least 9% per annum. · Portfolio independently valued at £2.90 billion3 as at 30 June 2018 (31 December 2017: £2.61 billion), including all forward funded development commitments. This reflected a like-for-like valuation uplift during the six-month period of 1.9%. · Operating profit before changes in fair value of investment properties has increased by 34.7% to £57.42 million (30 June 2017: £42.64 million). · Contracted annual rent roll increased to £139.36 million (31 December 2017: £125.95 million), including all forward funded development commitments. · At the period end, the Group's independent valuer, CBRE, assessed the portfolio's headline Estimated Rental Value (ERV) 5.6% above contracted annual rent, at £147.19 million pa. · EPRA cost ratio maintained at 13.7%, when compared to the first half of last year (30 June 2017: 13.7%). · At 30 June 2018, the Group had a loan to value (LTV) ratio of 25% (31 December 2017: 27%). This compares with our medium-term target of up to 40% when fully invested and geared. The Group has a largely unsecured debt platform which provides the flexibility to raise further liquidity across multiple debt markets. · As a consequence of its fixed-rate debt and hedging policy, the Group has a capped cost of debt of 2.66% and an all-in running cost of borrowing of 2.44% at the period end. Operational highlights · At 30 June 2018, the weighted average unexpired lease term ("WAULT")5 6 was 14.1 years. · Average net initial yield of the property portfolio at acquisition is 5.6%5, against our period end valuation of 4.6% net initial yield5. · Acquired four Big Boxes off market with an aggregate purchase price of £221.60 million, a WAULT of 23 years and adding two new Customers to the portfolio. o Three of the assets acquired in the period were forward funded pre-let developments with an average unexpired lease term of 26 years. These three assets will add a total of approximately 1.8 million sq ft of new Big Box logistics space to the portfolio and increase the rent roll by £9.44 million pa. o +7.6%7 valuation increase over aggregate purchase price of the four assets acquired in the period. · At the period end, the portfolio comprised 50 assets, which are well diversified by building size, geography and Customer and covering more than 24.9 million sq ft of logistics space5. · The portfolio was fully let, or pre-let and income producing, during the period5. · Raised £155.57 million of equity in April 2018, through a substantially oversubscribed placing. · Good progress with our strategic land at Littlebrook, Dartford, within the M25, where demolition and site preparation continue to plan. Post Balance Sheet Highlights · On 3 July 2018, the Company completed on a new forward funded development of a new logistics facility pre-let to Amazon UK Services Limited for an investment price of £120.70 million. · Assets under offer, in exclusivity and in solicitors' hands totalling approximately £160 million. We expect to exchange contracts on these opportunities over the coming months.
speedsgh
26/7/2018
10:37
Fund raising to be announced on 9th hence current weakness?
gswredland
20/7/2018
09:01
Liberium retains HOLD. Ups tp to 165p from 152p
aishah
16/7/2018
07:21
Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust dedicated to investing in very large logistics warehouse assets in the UK, will announce its half year results for the six months ended 30 June 2018 on Thursday, 9 August 2018. A Company presentation for analysts and investors will be held at 9.30am on the day at the offices of Newgate, Sky Light City Tower, 50 Basinghall Street, EC2V 5DE. The presentation will also be accessible via a live conference call and on-demand via the Company website: http://tritaxbigbox.co.uk/investors/#results-centre. Those wishing to attend the presentation or access the live conference call are kindly asked to contact Newgate on tritax@newgatecomms.com or by telephone on +44 (0) 20 7680 6550.
skinny
09/7/2018
15:31
I think some investors are hedging their bets here and selling some of their holding and transferring to ebox
norland1
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