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EBOX Tritax Eurobox Plc

54.30
1.70 (3.23%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tritax Eurobox Plc LSE:EBOX London Ordinary Share GB00BG382L74 ORD EUR0.01 (GBP)
  Price Change % Change Share Price Shares Traded Last Trade
  1.70 3.23% 54.30 1,158,113 16:35:10
Bid Price Offer Price High Price Low Price Open Price
54.30 54.80 54.40 52.90 53.20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust EUR 79.89M EUR -223.36M EUR -0.2768 -2.28 508.29M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:53:45 O 306 54.30 GBX

Tritax Eurobox (EBOX) Latest News

Tritax Eurobox (EBOX) Discussions and Chat

Tritax Eurobox Forums and Chat

Date Time Title Posts
20/3/202414:57Tritax Eurobox1,455
09/7/201809:44Tritax Eurobox17

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Tritax Eurobox (EBOX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:54:0054.30306166.16O
17:39:1953.7534,35318,465.42O
17:38:4054.3026,23514,245.61O
17:27:1453.2653,67028,583.57O
17:11:4654.291,8591,009.33O

Tritax Eurobox (EBOX) Top Chat Posts

Top Posts
Posted at 28/3/2024 08:20 by Tritax Eurobox Daily Update
Tritax Eurobox Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker EBOX. The last closing price for Tritax Eurobox was 52.60p.
Tritax Eurobox currently has 806,803,984 shares in issue. The market capitalisation of Tritax Eurobox is £508,286,510.
Tritax Eurobox has a price to earnings ratio (PE ratio) of -2.28.
This morning EBOX shares opened at 53.20p
Posted at 09/2/2024 10:14 by riverman77
When I say interest rates I really mean market interest rates not the policy rate, and my expectation is for corporate bond yields to fall sightly over the next year or so, which should be good for EBOX. However, EBOX are not reliant on this and could still comfortably refinance at current market rates.

Complete panic talk from Pyufak - EBOX are not financially distressed and in a worst case scenario may have to rebase dividend (eg 20% cut which arguably already priced in and would still give a 7% yield). The commercial property funds you mention may need to sell physical properties to meet redemptions - they're not going to be selling EBOX! EBOX is a closed ended fund so will never be a forced seller. Obviously all this could change if interest rates shoot up much higher to say 6%, but as it stands and with inflation coming down there's absolutely no reason to expect this.
Posted at 09/2/2024 09:41 by pyufak
okay, I have more than made my point the past two days. Summary, since the Oct lows risk assets have rallied hard and funding rates have dropped dramatically. I agree with the commentary here there's a path for EBOX management here to secure a reasonable rebased dividend but I have at length highlighted if you passively 'hope' rather than take action we risk running into a mess and my patience is wearing thin ... as it seems by the share price is that of a lot of other investors.

I read on bloomberg terminal an article just launched - 1bn pulled from European commerical property funds in Jan; some funds considering gating. This could mean they have to sell what is liquid which would be things like EBOX. This is exactly the sort of mess I am talking about if we have to sell assets or refinance if it gathers pace... and i know not all commercial property is equal but in a panic people throw out the good with the bad
Posted at 08/2/2024 18:05 by hpcg
Share price action summer / autumn last year was driven by rates carrying on up, I.e. legitimate. Share price action now is driven by (what were always deluded) hopes for a March cut nixed, and more extremely by the share price itself. This is not rational. Go back to fundamentals, estimate a refi cost, estimate rents, work out the FFO and thus dividend. Also thanks for the shares.
Posted at 08/2/2024 15:11 by pyufak
and last comment from me; if we don't crack on - the EBOX share price will stay under pressure because to me it implies i. the books marks are wrong and they can't shift assets - goes against Dec commentary so hopefully not the case; EBOX also has 21 sites so there's plenty of options. ii. management taking a big punt on interest rates and hoping. Given markets price 200bp of cuts already into the middle of next year I can't see much more support coming from this area ... so i really hope it isn't the latter. I'll go back to sleep now
Posted at 08/2/2024 13:25 by pyufak
ah here I was hoping to see some insightful chat or commentary on EBOX in a flurry of posts but alas ;-)

was wondering whether to top up or exit purchases from Oct. Decided in the end to do nothing; it was a close call to stick with it rather than exit. I think the company has little option other than to continue the asset sale programme (I would like to see much more aggressively); place proceeds into a money market euro fund or buy the 2026s bond. They have announced a minimum of 150m sales (130m executed) so they can continue well above this. They only have 21 sites so selling one or two of the top 10 even if a bit below book value would bring material confidence to the valuation and reduce the refinancing concerns even if it does hit the dividend - a dividend rebase I'd argue is in the price. What makes me nervous is I'd like to see decisive action from the management team to cut the circularity of the refi / valuation link - instead EBOX holders are just long 5y European credit yields squared / cubed (whatever power you want). I don't call selling 130m to sort the RCF out as decisive when we have the 2026s bond looming.

Until they take the plunge and sort this out I don't see any relief for EBOX. I take comfort at the current discount to NAV and if it truly gets messy I think a European real estate investor with deeper pockets, better funding profile and has money to invest like Blackstone etc comes and takes them out. The issue the management team face is by taking proper action to sort it out probably leaves us with a company which is a stronger going concern for shareholders but lower IM fee and more likely to be taken out anyway... shame; they're in a fair old pickle to my mind and far too passive about it while the market worries on their behalf (we can see this in the share price)
Posted at 05/2/2024 22:32 by meanreverter
Something is odd about the EPIC for Tritax Eurobox. On Google, ADVFN, and Yahoo, it is EBOX; on InvestEgate it is BOXE; on LSE and DividendData you can find the company under both EBOX and BOXE; and on London Southeast, BOXE is recognized, but leads only to the company's share price in euros, while the site is fully functional for EBOX.

If you use InvestEgate, as I do regularly, you will need to use the code BOXE.
Posted at 02/2/2024 17:12 by chucko1
I was being avant-garde picking a later period.

Last time EBOX was at 49p, the 10 year EU Swap was at 3.14%. It is now at 2.63% even after the 8bps move of today.

Alternatively, when the 10yr swap rate was (severally) at 3.14%, prices of EBOX were 52.3p, 56.9p, 60.8p and 58.0p (the 4th one I have dividend adjusted).

The price of EBOX on this quite simple basis is way out of tune.
Posted at 02/2/2024 08:57 by skyship
Interesting to read everyone's comments in December from P.1200 onwards.

Many of us bought before the lows; added around the lows...then profited as EBOX set off on a 33% upward run to 60p+.

IMO - time to be buying back in again; or miss the boat.

This was one of Ken's posts at that time (1206); NB - "the best time to buy..."

================================

Congratulations SKYSHIP on your justified conviction about EBOX. We now know it was crazily oversold down at 45p. Unfortunately I’ve a similar rule to SKYSHIP but not just like him no more than 10% in any one share or Investment Trust but also a maximum stake on a share and Trust too, so my top up at 45p had to be modest after the main buy around 55p.

When, as has happened with bb comment here and on other REITS, comment is very negative, people sometimes forget to question whether that bad news and the negatives they cover, might already be priced in. So often with quality shares and Investment Trusts, it turns out that the best time to buy is when sentiment and comment and the share price is dire. Buying bombed out shares and Investment Trusts has been my preferred tactic for many years and it has worked far more often than not.

Where I differ from some is that once I’ve bought a high yielding share or REIT I tend not to trade it but unless news suggests it’s right to sell, I then hold and collect the dividends for multiple years. That works too. e.g AEWU bought in an even worse REIT downturn in 2020 at 63p to give 13% annual yield even without that 50% share price gain on top. I just accept that the capital gain will reduce in dips like the recent one, but so what as long as that big dividend is held.
Posted at 05/12/2023 17:02 by kenmitch
Congratulations SKYSHIP on your justified conviction about EBOX. We now know it was crazily oversold down at 45p. Unfortunately I’ve a similar rule to SKYSHIP but not just like him no more than 10% in any one share or Investment Trust but also a maximum stake on a share and Trust too, so my top up at 45p had to be modest after the main buy around 55p.

When, as has happened with bb comment here and on other REITS, comment is very negative, people sometimes forget to question whether that bad news and the negatives they cover, might already be priced in. So often with quality shares and Investment Trusts, it turns out that the best time to buy is when sentiment and comment and the share price is dire. Buying bombed out shares and Investment Trusts has been my preferred tactic for many years and it has worked far more often than not.

Where I differ from some is that once I’ve bought a high yielding share or REIT I tend not to trade it but unless news suggests it’s right to sell, I then hold and collect the dividends for multiple years. That works too. e.g AEWU bought in an even worse REIT downturn in 2020 at 63p to give 13% annual yield even without that 50% share price gain on top. I just accept that the capital gain will reduce in dips like the recent one, but so what as long as that big dividend is held.
Posted at 18/10/2023 15:46 by kenmitch
Regardless of the pros and cons of buybacks, surely it’s not wise spending cash unnecessarily on them when debt is an issue, as it could turn out to be with EBOX. It’s not the job of Trust Directors or Company Directors to manage the share price. If a business or Investment Trust is successful the share price will respond in due course, buybacks or not, just as it will on the downside from here, including for EBOX, if the bears are right.

It’s very clear now that I was wrong, as was SKYSHIP with our expectation earlier this year that by now interest rates would be falling again. Just hope we’re both not equally wrong remaining optimistic about EBOX!
Tritax Eurobox share price data is direct from the London Stock Exchange

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