Tritax Big Box Reit Share Discussion Threads

[pj fozzie] 17/1/2019 09:26

Very happy with that trading update. Steady sensible growth in a relatively safe sector. Will continue to hold and top up every now & then.

Cheers, PJ

[cheshire man] 17/1/2019 08:06

Not to be sniffed at

PROGRESSIVE DIVIDEND POLICY

-- The Company is targeting an aggregate dividend of 6.7 pence per share for the year ended 31 December 2018, payable quarterly, of which 5.025 pence per share has been paid for the nine months ended 30 September 20188

-- The Company intends to maintain its progressive dividend policy during 2019 and thereafter

[pyufak] 04/1/2019 14:42

Adding this REIT; while I am gloomy on the 6–12 month outlook for economies I think this is majority priced now in risk assets. As a consequence of recent tick down in global data, Brexit, market volatility I personally feel further Fed, potential ECB or BoE rates hikes are off the table for the next year. There’s still a lot of uncertainty; but a REIT with long leases to high quality credits which is adding leverage towards its 40% target to support RoE should be a good place to be (i hope).

[tyranosaurus] 28/12/2018 11:39

It`s Amazon
hxxps://www.propertyweek.com/industrial/tritax-big-box-buys-amazon-fulfilment-centre-for-1473m/5100538.article

[ramellous] 24/12/2018 08:48

I think it’s Geordie Jeans...

[nimbo1] 24/12/2018 08:17

I think it’s Ali baba

[cheshire man] 24/12/2018 07:59

Time will tell melody

[skinny] 19/12/2018 07:07

On 1 December 2017, the Board of Tritax Big Box REIT plc (ticker: BBOX) (the "Board") announced that it had agreed a £350 million unsecured revolving credit facility (the "Facility") with a syndicate of lenders, with the ability to request two extensions of one year each beyond the original termination date of 10 December 2022.

The Board is pleased to announce that the Company has reached an agreement to extend the termination date of the Facility from 10 December 2022 to 10 December 2023. The margin payable under the Facility of 1.10 per cent per annum over 3 month LIBOR remains unchanged and the Facility retains its uncommitted £200 million accordion option. There remains one further extension option available under the Facility.

The agreement in respect of the Facility further extends the Company's weighted average debt maturity (excluding the existing £250 million short-term debt facility) to 8.7 years.

[piwood] 13/12/2018 07:45

Retail warehouses and Distribution centres have different planning permission use classes. As such they are not a connected use class.

[jonwig] 12/12/2018 12:28

Yes, I understand your point, and the next BBOX valuation will probably support you. The current share price falls in retail and property more widely are broad-brush in nature and in such conditions, BBOX could well hold its NAV figure but the share price go to a discount. Also it's UK-centric, of course.

As a holder here, I hope it works out better than that!

[belgraviaboy] 12/12/2018 12:18

As is the statistic - my point is I don't expect this subsector to have performed like that

[jonwig] 12/12/2018 10:14

belgravia - I think the term is all-embracing.

[belgraviaboy] 12/12/2018 09:52

There are retail warehouses - and there are big box distribution centres.

I know where I would rather have my money.....

[jonwig] 12/12/2018 09:33

CBRE: "A three per cent drop in the value of retail warehouse property during November has also driven the fall in the retail sector's capital values, which have dived 5.3 per cent since the start of the year."



Explains recent fall, I think.

[belgraviaboy] 05/12/2018 10:38

Very sensible move by BBOX. Should remove worry about a potential equity raise.

This is now standing on a historically high 8% discount to NAV. These big box assets are not like normal warehouses - they are very sticky for the tennant with substantial investment in automation being made into the sites.

The leases are long, with some inflation linking, the tennants are high quality. Other than overall market sentiment there is limited Brexit risk, and not likely to be a direct target for Comrade Corbyn. Limited supply and robust demand should protect the value of the underlying assets.

[killing_time] 05/12/2018 07:49

Yep looks good.

Bought back in yesterday as i think the share price has dropped too low for a company like this with good tenents locked in over a good few years on good rents. KT.

[jonwig] 05/12/2018 07:13

Tritax Big Box REIT plc (ticker: BBOX) announces that it has signed an agreement with a number of new institutional investors for a private placement of £400 million new senior unsecured loan notes (the "Loan Notes"). The Loan Notes comprise two tranches with a weighted average coupon of the fixed rate notes equating to 2.91 per cent. and a weighted average maturity of 9.8 years.
...
The proceeds will be used to refinance existing commitments under the £250 million short term, unsecured banking facility announced in October 2018 and provide the Company with additional committed capital to assist in the acquisition of further potential investment opportunities.

The LTV increases from 25% to about 31% (target is 40%). The rate looks very good, and in sterling (dollars would be a worry). Whatever the share price may be doing, this looks a good move.

[oldscallop] 04/12/2018 18:02

Especailly when we hear so much about the demand for warehouse space (albeit mainly for refrigerated/chilled) for stockpiling in advance of a "no-deal" Brexit.

[lcwanderer] 04/12/2018 12:03

Some recent scare-stories have suggested a significant drop in the value of commercial property if Brexit gets even messier. That's the only explanation I've got for a 15% drop in the last five months. Seems overdone.

[alter ego] 04/12/2018 08:27

Been wondering about that as well but in the dark really

[tudes100] 04/12/2018 02:07

any POV on recent falls ? Expected fundraise ?

[alter ego] 29/11/2018 09:00

thx Aishah, well found.