Tritax Big Box Reit Share Discussion Threads

[olderandwiserone] 27/1/2014 15:19

Thank you.

[daveofdevon] 27/1/2014 13:10

From the prospectus page 8

The investment objective of the Company is to invest in
UK Big Box assets benefiting from long-term leases with
institutional-grade tenants, to deliver, following
substantially full investment of the Net Proceeds:
• a minimum targeted annual dividend yield of 6 per
cent. by reference to the Issue Price, with the
potential to grow through regular upward-only
inflation-protected long-term lease agreements;
and
• a targeted net total shareholder return in excess of
9 per cent. per annum over the medium term

[olderandwiserone] 27/1/2014 11:47

Where does the company state they are targetting a div yield of 6%-9%?

[jaws6] 23/1/2014 12:26

RNS out on Transfer

[mach100] 13/1/2014 16:42

Nice tick up today. Will take a lot to shift the price I would have thought so 114p would be ambitious in the short-run, Its high yield will be very appealing in this low-rate environment and I think there must be more news flow to come. Love this share though as a slow but steady riser.

[gswredland] 13/1/2014 16:23

Thanks Dave

[daveofdevon] 13/1/2014 11:30

Jan 13th : Jefferies initiates with a target price of 114p and a buy recommendation.

[wirralowl] 03/1/2014 12:32

Thanks very much, DAVEOFDEVON.

[daveofdevon] 03/1/2014 12:07

From the prospectus

The Company intends to pay dividends on a half-yearly
basis in cash, but with a scrip alternative, with the first
interim dividend expected to be declared in August 2014.
After the Company attains REIT status, the Company will
be required to meet a minimum distribution test for each
accounting period that it is a REIT. This minimum
distribution test requires the Company to distribute a
minimum of 90 per cent. of the income profits of the
Property Rental Business for each accounting period, as
adjusted for tax purposes.
Although it is anticipated (as at the date of this
document) that dividends will be paid regularly following
Admission, the dividend targeted will only be delivered
after substantially full investment of the Net Proceeds.
The Company expects to have substantially invested or
committed the Net Proceeds within a six month period
following Admission.
The Company will seek to grow the dividend over the
medium term as rent reviews are triggered on
the portfolio of assets. Over a five year period, the
Directors expect that the dividend will grow at a rate
reflecting CPI/RPI due to the upward only rent reviews
typically contained in the leases of the target assets

[skinny] 03/1/2014 12:06

There is nothing currently on their

[wirralowl] 03/1/2014 12:01

Does anyone know when the proposed dividend dates are for BBOX?
TIA.

[gilotron] 23/12/2013 11:46

Well I'm onboard now. Gl all!

[mach100] 21/12/2013 16:02

Yes and with a divi of 6-9% targeted it each year, you will have a free ride after 11 to 17 years. Not many companies can match their scale and Amazon etc won't deal with tiddlers. As safe as houses!

[daveofdevon] 20/12/2013 17:49

My thinking as well

[gilotron] 20/12/2013 17:44

I wouldn't normally buy a property fund but I like this as a picks and shovels bet on online retail growth.

[gilotron] 20/12/2013 17:43

Ah okay I follow, so the hope is that the assets they buy with the float will increase in value and provide a yield from the rent, and the assets of this specific public part of the business will only be big box warehouses.

[daveofdevon] 20/12/2013 17:05

This company is not Tritax it is one of the investment funds being run by Tritax. The fund has no financials because it is a new investment vehicle.

The assets of the fund started as £200m cash less floatation costs.

[gilotron] 20/12/2013 17:00

Heya all,

Sorry to be daft here so if the company is valued at 200m what's the value of it's assets? The site mentions this on the front page "Tritax had total assets under management with an acquisition value of approximately £1.2 billion, across more than 30 investment vehicles, consisting of over 5 million sq. ft." The director Mark Shaw seems to have some good credentials. Would companies house have their pre float financials?

g.

[edwardt] 13/12/2013 14:20

Nice article in daily mail today.

[cottoner] 13/12/2013 12:14

Expecting another acquisition to be announced shortly.

'Tritax Big Box expects to have three warehouses under its belt before Christmas with a fourth shortly after and two more within six months.'

[skinny] 13/12/2013 12:03

AGREEMENT TO ACQUIRE THE MARKS & SPENCER EAST MIDLANDS DISTRIBUTION CENTRE FOR £82.575 MILLION

The Board of Tritax Big Box REIT plc is pleased to announce that it has exchanged contracts for the acquisition of the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire for a purchase price of £82.575 million (net of acquisition costs) reflecting a net initial yield of 5.2%. Completion is expected to take place on 17 December 2013. The purchase will initially be funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

The regional distribution centre was purpose-built for Marks & Spencer in 2011 and comprises over 900,000 sq. ft. of ground floor area with 25 metre eaves height, with associated offices, car park and vehicle maintenance unit and with the benefit of an adjacent rail freight terminal and sidings. It is strategically located with excellent transportation connections via road (M1 motorway), rail and air for central UK distribution of general merchandise for both e-commerce and national stores.

The distribution centre is being acquired with an unexpired lease term of approximately 23 years, which is subject to a five yearly open market rent review with a minimum increase equivalent to 1.5% per annum and a maximum increase equivalent to 2.5% per annum (in each case on a compounded basis).

[jaws6] 13/12/2013 11:07

Good move on up now 102 102.5
edit-rns on marks spencer move

[topvest] 12/12/2013 13:33

Itinvestor - yes, it's disappointing. Can't see why the SFM is unsuitable for investors, but the rubbish on AIM is..I think this is more of a LSE regulatory requirement, so not really under their control. Access to companies on the SCM are generally out of bounds to the retail investor.

Oh well...everything else about Charles Stanley is excellent. They go out of their way to be helpful. Top notch service, so no complaints from me really. They have invested quite a bit in the Charles Stanley Direct platform and that is good as well.

I don't like nominee accounts as I like to receive annual reports and be able to vote.

[4wingrove] 12/12/2013 13:21

No problem with Interactive Investor, looks encouraging big stakes by BNY and Yorkshire Council and price now ticking up