Tritax Big Box Reit Share Discussion Threads

[tnt99] 06/5/2022 06:36

Good buy from a director today

[scruff1] 04/5/2022 17:07

It needed to be above 1.65 to give it a kick.

[scruff1] 04/5/2022 17:07

It needed to be above 1.65 to give it a kick.

[toffeeman] 04/5/2022 13:06

buy back at the last placing price?

[skinny] 04/5/2022 11:17

From the update :-

Colin Godfrey, CEO

Strong demand from a broad range of occupiers supports market strength

Strong and diversified occupier demand combined with historically low levels of availability are leading to further rental growth across the UK.

-- Near record levels of demand from a range of occupier types with 10.4 million sq ft of take up in Q1 2022, up 102% on Q1 2021.

[financeguru] 04/5/2022 11:10

best kept secret at the moment seems to be ...... what is the dividend going to be for the year going forward. If it is not substantially more than last year, I fear for the share price. I rather stupidly/rashly bought more on the initial fall yesterday and then bought more after lunchtime when it looked to have stabilized, thankfully still in profit overall as I have held these for a long time. Wish I had kept my powder dry! Can anyone see some positives in this?

[roguetraderuk] 04/5/2022 10:35

according to salesforce you saw a global pullback of ecommerce sales of 3% and down 13% in europe. the inpost ceo believes you still have downside and that a bottom may come end q2/early q3. the long term trend should still be up but given these logisitics plays were trading on huge nav premiums and with yields at or below treasuries, eventually it had to give. you could now see a period of trading below nav as these assets will need to be marked lower to, as has everything else. amazon seem to be loading their q2 with costs and low bar and expect a jump in q3, so thats alo an indicator of what people expect. of course any protracted slowdown in the economy is going to act like a brake on any rebound, even if sooner or later its bound to come. id focus on logistics plays strong in data centre or ecommerce in central and eastern europe, because they are still behind in saturation.

[scruff1] 04/5/2022 10:04

rogue
is there any form of retailing thats not slipping? In fact is there much of anything not slipping at the moment? Its a dip (for how long?) not a trend change and reading the update BBOX seem pretty well placed at least for the medium term

[financeguru] 04/5/2022 08:13

anyone here attending the AGM?

[speedsgh] 04/5/2022 07:35

BBOX now trading at a discount to EPRA NTA (31/12/21: 222.52p) for the first time in a good while.

[roguetraderuk] 04/5/2022 07:28

ecommerce sales are slipping and you are getting bad etailer reports almost everyday, today boohoo. its going to feed into falling demand on the ecommerce side of logistics esp when the 10 year is yielding about what many of these are paying in dividends and were at large premiums to nav.

[igoe104] 04/5/2022 07:22

Story is unchanged here, folks are like sheep, only selling because the reits are down in America...

Their is a weak mentality with alot of investors...

[scruff1] 04/5/2022 07:16

Pretty much as expected I guess. Doesnt seem to have stemmed the sell off. Maybe declaration of dividend may do. Last year it was the day after the update and AGM

[speedsgh] 04/5/2022 06:57

No skeletons in this morning's Trading Update AFAICS. They seem to be mitigating well-publicised cost inflation fairly well, demand still far outstrips supply. Must be little scope for further yield compression so future growth to be driven by rental growth and bringing the development pipeline into fruition.

Trading Update -

Tritax Big Box REIT plc (the Company), in conjunction with its Annual General Meeting, announces an update on its performance for the period 1 January 2022 to date.

"We have made a positive start to the year as we continue to drive performance across all business areas. Demand from a broad range of occupiers for new logistics space remains very strong, underpinning our confidence in our growth prospects. We are actively managing our portfolio, completing several rent reviews and lease extensions during the period which will deliver attractive levels of income growth. With 3.1 million sq ft of space currently under construction we have growing visibility on accelerating earnings growth over the medium-term."

"The UK has entered a period of higher inflation however I am reassured by how the Company is positively responding to date. We are mitigating much of the construction cost inflation in our near-term development pipeline through our specialist approach to procurement, locking in fixed price building contracts, and our ability to pass through increased costs to rents. Our active management of open market rent reviews, the significant proportion of inflation linked leases and strong occupier demand combined provide a good degree of inflation protection."

[continues]

[scruff1] 03/5/2022 21:00

William
???

[williamcooper104] 03/5/2022 19:09

That's where I made my money

[digger18] 03/5/2022 18:13

From the March update: What has fundamentally changed in the last month?
Not a lot I would suggest!

Strong start to FY 2022 with 1.8 million sq ft of near-term development starts in Q1 2022, adding a potential £13.1 million of contracted rent, of which 56% has been pre-let.

· FY 2022 guidance increased to 3-4 million sq ft of starts and £350-400 million of capex into development, compared to long-term target run rate of 2-3 million sq ft per annum; maintaining 6-8% target yield on cost.

· Record levels of occupier demand across our portfolio with active negotiations on more than 10 million sq ft Over 11 sites.

[phillis] 03/5/2022 14:56

European economies in decline!

[nerja] 03/5/2022 14:01

The way this is dropping 210p is possible this week

[my retirement fund] 03/5/2022 13:55

Whats happened here in this particular sector reminds me of the fad for building or refurbing then re-naming a lot of the boring old industrial park developments back in the 90's and 00's science and technology parks so they could attribute stupid valuations to the property which in turn allowed them to borrow and develop using imaginary loan/NAV ratios and then issue equity at absurd valuations.

[scruff1] 03/5/2022 12:53

A poor trading statement would pan lid today !

[roguetraderuk] 03/5/2022 11:07

us10 yielding 3% makes the argument for these kinds of reits a difficult one. add in amazon struggling for some time now and the argument for an even short term top in ecommerce looks compelling. last month salesforce had said it saw flat ecommerce sales in q1 with europe down 3%. the ceo of inpost has said he believes it may bottom q2/q3 at down 13%. this comes at a time when building of these ecommerce warehouses is flat out. i would also add one of the biggest ecommerce warehouse providers in poland, 3LP SA is floating this month. sellers of businesses rarely get their timing wrong. so this is a sector to stay away from, if the warehouses are concentrated in ecommerce. there is still an argument for data centres but anything focused on ecommerce is surely going to be under pressure over the next few months.

[riverman77] 03/5/2022 11:04

Well done, it was a massive bargain at that price.

[scubadiverr] 03/5/2022 11:01

Tripled. I topped up at 82

[riverman77] 03/5/2022 10:59

Agree, I'm a strictly long only investor, but if I were to ever short this would be an obvious candidate. share price roughly doubled since the Covid lows and looking pretty frothy.