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BBOX Tritax Big Box Reit Plc

139.40
2.40 (1.75%)
17 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tritax Big Box Reit Plc LSE:BBOX London Ordinary Share GB00BG49KP99 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  2.40 1.75% 139.40 6,026,258 16:35:24
Bid Price Offer Price High Price Low Price Open Price
138.90 139.20 139.50 136.80 136.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 222.1M 70M 0.0282 49.29 3.4B
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:24 O 1 139.40 GBX

Tritax Big Box Reit (BBOX) Latest News

Tritax Big Box Reit (BBOX) Discussions and Chat

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Date Time Title Posts
17/1/202511:05Tritax Big Box REIT plc2,421

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Tritax Big Box Reit (BBOX) Most Recent Trades

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Posted at 19/1/2025 08:20 by Tritax Big Box Reit Daily Update
Tritax Big Box Reit Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker BBOX. The last closing price for Tritax Big Box Reit was 137p.
Tritax Big Box Reit currently has 2,480,677,459 shares in issue. The market capitalisation of Tritax Big Box Reit is £3,448,141,668.
Tritax Big Box Reit has a price to earnings ratio (PE ratio) of 49.29.
This morning BBOX shares opened at 136.80p
Posted at 17/1/2025 11:05 by sigmund freud
Agree the price is driven by other fixed income sources. That's what I meant by bond-like proxies.
It will behave less like a gilt as the ltv value comes down (if management want to bring it down). A high LTV essentially leverages gilt-related share price movements?
At least it is a growing business that someone might want. Wish I could say same about Gilts.
UK market is cheap to an overseas investor and my guess is the Trump 2 inauguration =peak US. and a lot of funds will be looking for a boring new home and this and UK reits will fit the bill.
Whether interest rates go up or not, bbox is now at a valuation level that likely will make a better total return than cash in the bank. I'll leave Gilts to the pro's
Posted at 16/1/2025 09:58 by affemoose
decent summary Sigmund, i'm in a similar position to you.

One thing that you forgot and is vitally important is Gilt yields - this is the key driver for us in price movements. Why invest here when you can get similar returns & far less risk with Government paper.

So yeah -reduction in Interest Rates & reduction in Yields on Gilts will start the upward march on this share price

It's not designed to be an exciting stock -but trapping the Divi yields on offer atm in a stock that I consider to be well run and secure is attractive - so i'm not going anywhere. I'm overweight so wont buy more but am happy to 'bottom draw' this. It hurts sometimes, I am impatient, but the maths is good.
Posted at 15/1/2025 13:17 by sigmund freud
i am a PI so small fry
am at a small capital loss but overall gain, so not great but not bad
reviewing the history, this sector took 2 hits, one from interest rate rises and one from amazon saying it had over-rented this type of property. however amazon's issue was primarily in us where there is land everywhere. i have certainly not seen any empty boxes near me.
i suspect most large shareholders were pension funds holding these as bond-like proxies, who sold off quickly as interest rates went up. and they haven't re-entered the market.
right now even if interest rates don't come down, they look cheap at 133p today.
LTV is about 30% and most debt has a 5 year maturity, so hopefully no shocks coming. 95% of debt is at fixed or capped rates.
inflation-linked upwards-only rental reviews
very diverse occupier demand. amazon is largest at 12.3%
average logistics-type unexpired lease is 10 years
the independent valuer estimate of market rent is 22% higher than the current rental level, so room to grow that. this can often have a significant positive effect on the value of the properties, so likely asset appreciation.
not much new supply (not seeing much new building in my region)
clients are responsible for maintenance etc
considerable sector consolidation going on
online retailing is a growing market and bbox is one of the shovels even if it isn't a "pick" right now.
could the exploration of expanding into data centres and the power that these consume be the spark for a re-rating? it is all pie in the sky atm but their infrastructure knowledge and land bank and position of this would fit bbox nicely?
yield today is 5.4%, trading at 29% discount. this is a buy for me along with some similar reits. and if interest rates surprise to the upside causing further share price falls, happy to increase exposure.
Posted at 15/1/2025 11:20 by skinny
FWIW :- Bank of America cuts Tritax Big Box price target to 180 (210) pence - 'buy'
Posted at 10/12/2024 10:17 by skinny
FWIW :- JPMorgan cuts Tritax Big Box price target to 190 (200) pence - 'overweight'
Posted at 21/11/2024 09:25 by essentialinvestor
Further sector consolidation is odds on.

SHED likely to merge with LMP or BBOX, LMP more likely with their lower discount to NAV.

GRI looks reasonable, IF you consider occupancy will hold up around current levels and gilt yields begin to trend lower in 2025.
Posted at 08/11/2024 09:04 by affemoose
I hear the comments above re: UK debt, taxation, Yields etc.

BBOX share price - In a slowly dropping interest rate environment it's just hit a 12 month low. Gilt yields have gone up and as so many point out this is always inverse to BBOX Share Price. Uncomfortable, and we only have the NAV to pin our hope to for short-medium term drivers of share price

I am trying hard to simply take the long term view of this - while it's 'cheap', and Divi's are rolling, compound the Divi's into more Stock and wait for the good days to return.

I did but with a long term horizon - just that long term is longer term than i anticipated!

I've copied some analyst ratings below for context. All pre-budget of course.

"A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Tritax Big Box REIT in a report on Friday, July 12th. Berenberg Bank reissued a "buy" rating and issued a GBX 182 ($2.37) target price on shares of Tritax Big Box REIT in a research note on Wednesday, August 28th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 210 ($2.73) price objective on shares of Tritax Big Box REIT in a report on Friday, July 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of GBX 191.75 ($2.50)."
Posted at 03/5/2024 19:10 by rik shaw
Number of new shares is easy as it's in the prospectus (+23.3% or Up to 576,939,135 new shares).The current share price gives a fair idea of how the market values BBOX as the deal has now been voted through and will come into effect on mid May. Combined MVAL approx 2.48bn total shares x current share price
Posted at 02/5/2024 15:17 by speedsgh
~ Q1 div of 1.825p declared. Whole amount to be paid as a PID.
~ BBOX/UKCM merger approved. It is currently expected that UKCM shareholders will have been issued with new BBOX shares prior to record date for BBOX Q1 div payment.

Dividend Declaration -

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has declared an interim dividend in respect of the period from 1 January 2024 to 31 March 2024 of 1.825 pence per ordinary share, payable on or around 7 June 2024 to shareholders on the BBOX share register on 24 May 2024. The ex-dividend date will be 23 May 2024.

In accordance with the Company's dividend policy, the first, second and third quarter dividend payments will each represent 25% of the previous financial year's annual dividend which, for the year ended 31 December 2023 amounted to 7.30 pence per ordinary share. The level of the fourth quarter dividend will be used to determine any potential dividend progression, with an overall aim to achieve a pay-out ratio in excess of 90% of Adjusted earnings.

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

---------------------

BBOX and UKCM announced on 1 May 2024 and 2 May 2024, respectively, that BBOX had received the requisite approvals from BBOX Shareholders and UKCM had received the requisite approvals from UKCM Shareholders in connection with the Combination.

Completion of the Combination remains subject to the satisfaction or (where applicable) waiver of the remaining Conditions and further terms set out in Part 4 of the Scheme Document, including the Court sanctioning the Scheme at the Sanction Hearing. The Sanction Hearing will take place on 16 May 2024 and it is expected the Scheme will become Effective on the same date, resulting in the issue of the New BBOX Shares to UKCM Shareholders by 8.00 a.m. on 17 May 2024. Applications have been made by BBOX for the New BBOX Shares to be admitted to the premium listing segment of the Official List and to trading on the Main Market at or shortly after 8.00 a.m. on 17 May 2024.

Accordingly, it is currently expected that UKCM Shareholders will have been issued with the New BBOX Shares prior to the record date of the BBOX Q1 Interim Dividend, being 24 May 2024. All UKCM Shareholders will therefore be entitled to the BBOX Q1 Interim Dividend, provided that they are on the BBOX share register on 24 May 2024.
Posted at 10/1/2023 17:17 by scruff1
Not talking about their business connection. Its perception of fortunes. BBOX share price collapsed when Amazon first mentioned that it had overstretched itself during covid. Its done the same a couple of times since today being the latest, Kick Amazon and BBOX limps it seems
Tritax Big Box Reit share price data is direct from the London Stock Exchange

Tritax Big Box Reit Frequently Asked Questions (FAQ)

What is the current Tritax Big Box Reit share price?
The current share price of Tritax Big Box Reit is 139.40p
How many Tritax Big Box Reit shares are in issue?
Tritax Big Box Reit has 2,480,677,459 shares in issue
What is the market cap of Tritax Big Box Reit?
The market capitalisation of Tritax Big Box Reit is GBP 3.4B
What is the 1 year trading range for Tritax Big Box Reit share price?
Tritax Big Box Reit has traded in the range of 125.70p to 168.90p during the past year
What is the PE ratio of Tritax Big Box Reit?
The price to earnings ratio of Tritax Big Box Reit is 49.29
What is the cash to sales ratio of Tritax Big Box Reit?
The cash to sales ratio of Tritax Big Box Reit is 15.53
What is the reporting currency for Tritax Big Box Reit?
Tritax Big Box Reit reports financial results in GBP
What is the latest annual turnover for Tritax Big Box Reit?
The latest annual turnover of Tritax Big Box Reit is GBP 222.1M
What is the latest annual profit for Tritax Big Box Reit?
The latest annual profit of Tritax Big Box Reit is GBP 70M
What is the registered address of Tritax Big Box Reit?
The registered address for Tritax Big Box Reit is 72 BROADWICK STREET, LONDON, W1F 9QZ
What is the Tritax Big Box Reit website address?
The website address for Tritax Big Box Reit is www.tritaxbigbox.co.uk
Which industry sector does Tritax Big Box Reit operate in?
Tritax Big Box Reit operates in the REAL ESTATE AGENTS & MGRS sector