Tritax Big Box Reit Share Discussion Threads

[porsche1945] 22/2/2024 17:08

Pointless share, never goes anywhere, soso dividend which is beaten risk free by T bills. Why bother with the risk of owning basket case U.K. shares? Just looking through ftse 350, shocking, most of its been cut in half since 2016, no wonder the dividends look high with the likes of Vod and BT cut in half then cut in half again, plainly just no buyers for shares which can’t even grow to outpace inflation, the real losses must be vast, I owned this in about 2018 and it was same price then.

[williamcooper104] 19/2/2024 12:35

That's a good point - so long as they can sell at close to NAV and make a turn Reminded of Intus clever way of avoiding a rights issue by buying the Trafford Centre

[scruff1] 19/2/2024 11:28

I suppose that is the only seemingly logical conclusion. I presume BBOX have something penned in as a use for the sale proceeds

[speedsgh] 19/2/2024 10:15

QuotedData's brief summary of the mooted BBOX/UKCM deal can be found here -

Starts from 9:19. The basic concluson is that the deal is basically designed to help BBOX fund their development pipeline through the sale of UKCM's £500m+ non-logistics assets seeing as BBOX are currently unable to raise funds through more usual methods (debt/issuing equity). QD's conclusions start from 15:05.

[scruff1] 18/2/2024 09:23

Article on the proposed merger in todays citywire. Pretty much a summary of what we already know but the last paragraph or so I think indicates the thinking behind it from BBOX's point of view and why UKCM's chair is not supportive. In the event of the go ahead which seems v. likely it will be interesting to see what the plans are for the peripheral stuff like offices and student accommodation. Sales would seem most likely. I'm warming to it

[skinny] 17/2/2024 10:48

Worth a read :-

.

[scruff1] 14/2/2024 07:48

Slow today Skinny ! Well lets see what this does

[freedomexpress747] 13/2/2024 23:29

Well done the once little company in Bedford that did EZs and used that skill to move into Big Boxes... which regrettably are the future for retailing, small offices, and most shops too. Personally, still avoiding the whole sector, will wait until the risk reward balance looks better. I welcome consolidation as a first step here as the cost of capital may not ever be cheap!

[digger18] 13/2/2024 18:07

Exacerbated today by stubborn US inflation!

[yump] 13/2/2024 17:57

Surely there won't be any reduction in costs from the advisers ? That would be truly shocking. After all, they have worked for months on their cunning, complex and amazing plan. A nice salary increase in order - kerching.

Me, a cynic ?

[scruff1] 13/2/2024 16:48

yep - thats better

[nickrl] 13/2/2024 14:15

@Sky not quite the precipitous collapse that CREI had but got an alert on for 140p!!

BBOX shareholder base has no dominant party nor do Aberdeen have a notifiable interest

BlackRock 8.48
Aviva Investors 5.71
Vanguard Group 5.01
Legal & General Investment Management 4.09
SSGA 3.42
Brewin Dolphin, stockbrokers 3.28

and no indication of their intentions as to whether they support or not in the RNS but lets see what the offer document has to say (if we get that far).

[skyship] 13/2/2024 13:16

A really bad deal for BBOX holders. Shares likely headed back to 140p. Take a look at CREI post their same illogical bid for API. Now down 21% from their pre-bid level!

[speedsgh] 13/2/2024 12:44

From the BBOX rns yday, the first point fleshing out the "compelling strategic and financial rationale" for the merger states that it will "bring together complementary logistics-oriented investment portfolios"...

The 59% industrial sector weighting by market value referred to in the recent UKCM presentation comprises multi-let industrial and logistics properties. Does anyone have any idea what proportion of this is actually logistics? You can get a flavour from the UKCM website - [...] - but I have been unable to find any figures on this.

[ygor705] 13/2/2024 11:50

I've been a holder of BBOX since inception and liked the early model and how management scaled the business. Having been a shareholder of what used to be Standard Life (before it rebadged itself with some ridiculous name that it is entirely forgettable) I was not encouraged when they took a larger interest in BBOX. On the face of it, scaling up the business at this point in the commercial property cycle looks sensible but I'd be happier in Abrdn weren't involved. It's no wonder that the share price is hesitant.

[mcdougall1] 13/2/2024 10:34

One of the key reasons why I bought into BBOX is the property portfolio comprises of large modern high quality distribution warehouses, as well as the planning/ development upside for future developments that BBOX have been really good at. I don't see the rational for picking up a mixed bag of other stuff.

[adamb1978] 13/2/2024 09:37

Just hope that BBOX dont get deal-fever and stretch their view on the purported benefits (whatever they are). If the Chair of UKCM is not in favour yet then it sounds like the price might move north. BBOX need to be prepared to walk if the terms dont seem to stack up

[scruff1] 12/2/2024 22:03

Thanks William. Article in citywire tonight. Seems the chair of UKCM is not in favour and the deal has yet to be accepted. Also analysts not convinced of the logic. I think like most posters today they want to see some rationale other than simply bigger is better. William's resume seems to be about the size of it - as usual !

[nickrl] 12/2/2024 21:42

@WC or perhaps Aberdeen boosting Tritax AuM so they offload their holding?

[williamcooper104] 12/2/2024 20:05

It would appear to be keep the industrial - UKCM has more last mile/urban which bbox wants to compliment Also keep the retail warehouses - after all just a shed with a shop front And then sell the rest Hopefully at a bit of a profit to the implied acquisition price (Also for Andrn to reduce costs and charge similar management fees)

[scruff1] 12/2/2024 18:11

Well if there is a clear strategy it appears no one here knows quite what it might be.
Over to William Cooper !!