Tritax Big Box Reit Share Discussion Threads

[eagleblue1] 22/10/2020 15:27

Agreed - good for at least 5 years and maybe more with fresh investment.

[williamcooper104] 22/10/2020 15:09

In the long long run - I wouldn't want to be holding in 20 years when leases expire and But for next 5 odd years can see little downside

[eagleblue1] 22/10/2020 15:00

Share price holding up well today considering it's ex dividend day. Should perform well regardless of Covid, Brexit over the winter - seems like a safe dividend stock in an age where the usual oil and banking dividends are unstable and I think this will continue to appeal in the long run.

[williamcooper104] 16/10/2020 20:21

The brexit chatter hasn't really been priced into the market - eg cable not really moved It's seen as bluster and chicken playing Which it probably is - but if it's not all hell lose on U.K. stocks Still in a no deal brexit the demand for warehouses can only be extreme

[scruff1] 16/10/2020 19:04

Yep. Profit taking was all I could think of. Maybe pushed along by the Brexit chatter.

[dhoult12] 16/10/2020 18:26

Not that i am aware. Probably some profit taking. Also have to remember as others fall hard people will cash in to take advantage of the "opportunity" they see.

Not sure how that works with Tesla et al though! but im just sticking my fingers in my ears and pretending that doesnt exist for now. Im dull like that.

[scruff1] 16/10/2020 18:04

By the way is there a clear reason for the drop over the last couple of days after a good rise?

[scruff1] 16/10/2020 18:01

dhoult12
Im thick. That meant little to me either but thanks for your effort.

[dhoult12] 16/10/2020 17:46

TR1s are weird and wonderful. For aim shares i still expect filing is done half the time at best. Its the shareholders duty to do so..

My understanding.. Aviva hold voting rights for 7% of the shares. 0.05% through an instrument - you assume they have lent them out.

Those shares are held at chase, HSBC etc etc. So the share register states Chase or HSBC etc through CREST. The company wont get sight of who actually owns the shares unless told, which Aviva are doing now to them and the market. have a good weekend.

[scruff1] 16/10/2020 17:32

Is it me being a bit thick or are the way they word share tranactions in RNS' designed to be unintelligble.

[williamcooper104] 14/10/2020 13:51

Sure - some were (note past tense) paying over 10 yieldsThe divi yield is much better than SEGRO - a far better comp than a typical REIT The real action here is the development pipeline Note that the best total return REITs have typically come from sector specific low yielders - eg GPOR/DWT/Segro in U.K. and AMT/DGL/Progus in the US The low yield means accretive developments and it also gives a public cost of capital arbitrage over private markets

[tyranosaurus] 14/10/2020 13:37

Most REIT`s are paying more than BBOX 3.7% dividend.
If that is moaning then this board can get stuffed.

[financeguru] 14/10/2020 13:20

stop moaning, the bod is doing a fine job and the stock is trading at an all time high..... what more do you want?

[tyranosaurus] 14/10/2020 12:53

Another "reduced" dividend coming up.
I wonder if they will increase the final dividend to make up some/part of the reduction.
Perhaps they will use this years as the new base for their progressive dividends.

[scruff1] 13/10/2020 08:48

RBC raises BBOX to 200p

[skinny] 12/10/2020 15:41

Yes quite a few that were troubling in March/April as they looked almost too good to be true - so I left them - I added here (as above)BERI, SHED and AEWU - but missed quite a few others.

Decent volume today also.


free stock charts from uk.advfn.com

[williamcooper104] 12/10/2020 15:25

We just need hindsight trading ability Burs looking v good too recently Both Bur and BBOX are structural growth stories so March really was an amazing opportunity (though BBOX is much much simpler to understand/value!

[scubadiverr] 12/10/2020 15:22

Agreed. I too only made small top ups. In here and Bur. Those March purchases have now doubled in value.

[williamcooper104] 12/10/2020 13:06

Have held since 14 - alas only took a little top up in March My lesson - put more into my higher convection positions

[williamcooper104] 12/10/2020 13:02

The development yield (DY) of cost of 6-8 percent is critical My own holy grail for developing is having a DY of double the cap rate as means you can borrow all your development capex and double the banks money - BBOX will lever things much conservatively than a private developer - but it's still the same golden sweet spot Another way of looking at it is that 8 DY at 30 LTV on 2 percent debt cost = c11 percent cash on cash yield

[skinny] 12/10/2020 07:21

New all time high @165.30.

[n0rbie] 12/10/2020 07:19

Cracking update

[skinny] 12/10/2020 06:05

The Board of Directors of Tritax Big Box REIT plc has today declared an interim dividend in respect of the period from 1 July to 30 September 2020 of 1.5625 pence per ordinary share, payable on or around 13 November 2020 to shareholders on the register on 23 October 2020. The ex-dividend date will be 22 October 2020.

This dividend will be a Property Income Distribution (PID).

[skinny] 12/10/2020 06:03

.




STRONG PORTFOLIO PERFORMANCE AND CONTINUING STRATEGIC PROGRESS

Tritax Big Box REIT plc (the Company) today announces an update on its performance for the third quarter of its 2020 financial year.

UK logistics market continues to strengthen

Big Box logistics assets continue to benefit from changing shopping habits as the greater efficiencies they offer drives strong occupational activity, despite the uncertain economic backdrop. Take-up over the past nine months of 32.6 million sq ft has surpassed previous annual historic levels and is c.3% above 2018's previous annual record levels, according to CBRE. This demand is aligned with a noticeable increase in enquiries we have received on opportunities within our development portfolio since July driven by increasing volumes of online sales.

Additional occupational requirements within the UK have also translated into stronger investment demand. We see potential for further yield compression in the near-term given attractive structural trends and the secure, long-term income offered by large-scale modern logistics buildings.

Resilient portfolio underpinned by high-quality assets delivering strong rent collection

Our focus on high-quality assets, and the critical role they play for our customers is reflected in ongoing strong levels of rent collection in the quarter.

We expect that 99% of Q4 2020 rents will be collected by the end of November 2020, comprised of the following:

-- 89% of rents have been paid to date.
-- 10% is scheduled to be collected on a monthly basis over the remainder of the quarter.
-- For the remaining 1% of rents, payment plans have been agreed with a small number of tenants seeking to defer rental payments, with recovery expected over the near-term.

In line with our expectations, 97% of Q2 2020 rents have now been paid along with 99% of Q3 2020 rents. To date, no rent-free periods or rent reductions have been agreed across the portfolio and, with outstanding rental payments being subject to a small number of agreed deferral arrangements, our overarching expectation is 100% of all rent for the 2020 year will be paid over the remainder of 2020 and into 2021.

Direct and active management of our portfolio delivering value for shareholders

Our strategy is based on actively and directly managing our portfolio to drive value for shareholders. As part of this, we are taking advantage of strong investment demand for logistics real estate, selling assets where we have completed our asset management initiatives and maximised value for shareholders. This enables us to reinvest the proceeds into higher returning opportunities within our portfolio or by acquiring property in the market where we can add significant value through asset management initiatives.

During the quarter we exchanged on the sale of four assets achieving:

-- A total consideration of GBP134 million, in line with our target of GBP125-175 million per annum.

-- An average levered IRR in excess of 12.5% per annum (net of corporate costs).
-- A blended sale NIY of 5.0% compared to aggregated purchase NIY of 6.6%.
We continue to identify ways to increase the value of our portfolio through asset management. During the period, we added GBP1.0 million to passing annual rent through the settlement of six rent reviews, which in aggregate equated to an increase of 8.5% to the previous passing rent. In the period to December 2021, the Company has a further 40% of the portfolio that is subject to rent review.

Redeploying disposal proceeds into accelerating progress within our development platform

Our development landbank is the UK's largest focused on industrial logistics assets providing the opportunity to deliver a yield on cost of 6-8%. Demand for large scale logistics assets continues to increase while supply remains constrained. During the quarter we have seen an uptick in interest from a range of customers requiring additional logistics capabilities further supporting our confidence in the market.

During the quarter we have made significant progress including:

-- Successful lettings of 320,000 sq ft across three speculatively developed buildings to tenants including Apple, adding GBP2.5 million to portfolio contracted annual rent.

-- Achieved 1.9 million sq ft of outline planning consent at Rugby* and submitted planning applications across a further 2.0 million sq ft.

-- Reached practical completion on 2.3 million sq ft of pre-let forward funded developments across our buildings let to Howdens in Raunds and Amazon in Durham.

-- Delivering one of Europe's largest and most sustainable logistics buildings, let to Amazon, at our Littlebrook, Dartford site, with the external structure expected to be wind and watertight by mid-November, and on track for practical completion in Summer 2021 - view progress here .

-- We are progressing our focus on ESG, which includes a recently announced commitment to net zero carbon in the construction of new developments. Construction has commenced on the 59,000 sq ft asset at Bicester, pre-let to DPD where we will reduce the carbon impact by 35%, and saving 5,000 tonnes of construction related embedded carbon emissions, as part of our industry leading practices.

Colin Godfrey, CEO, Fund Management, commented:

"This has been another strong quarter across our business with good operational and strategic progress. Our focus on owning the highest-quality assets and maintaining a strong tenant roster continues to position us well to weather the worst of the pandemic and deliver on our expectation that 100% of all rent for the 2020 year will be paid.

"We are selling assets into a strong market, delivering attractive returns to shareholders, enabling us to redeploy proceeds into higher returning opportunities both within the portfolio and in the market. Combining a high-quality portfolio, growing development pipeline and asset management initiatives with increasing demand for logistics space, we are well positioned to continue to deliver both attractive and secure income and capital growth for investors."

* Subject to Judicial Review period safety and convenience features to vehicle passengers without inflating the overall system cost. This is a very important step in our company vision, to truly enable automobiles to see, understand, secure, and assist its occupants."

[skinny] 09/10/2020 09:46

I've held these since 2013 @100.95 and added in March @82.85p

I also hold RGL,SHED & WHR.