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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
  0.80 0.71% 113.80 1,044,974 16:35:29
Bid Price Offer Price High Price Low Price Open Price
113.00 113.40 113.60 112.60 112.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 38.92 48.63 9.62 12.3 700
Last Trade Time Trade Type Trade Size Trade Price Currency
18:14:24 O 46,861 113.80 GBX

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Date Time Title Posts
04/5/202122:08Tritax Eurobox129
09/7/201810:44Tritax Eurobox17

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Tritax Eurobox Daily Update: Tritax Eurobox Plc is listed in the Real Estate sector of the London Stock Exchange with ticker EBOX. The last closing price for Tritax Eurobox was 113p.
Tritax Eurobox Plc has a 4 week average price of 104.40p and a 12 week average price of 100p.
The 1 year high share price is 115.80p while the 1 year low share price is currently 75p.
There are currently 615,360,961 shares in issue and the average daily traded volume is 1,757,853 shares. The market capitalisation of Tritax Eurobox Plc is £700,280,773.62.
cwa1: You certainly can't accuse them of letting the grass grow under their feet if nothing else:- 1 April 2021 ACQUISITION OF TWO HIGHLY SUSTAINABLE LOGISTICS ASSETS IN PRIME LOCATIONS IN GERMANY FOR EUR290.9 MILLION Swiftly deploying recently raised funds to capture significant opportunities in the core continental European logistics market Tritax EuroBox plc ("Tritax EuroBox" or the "Company") announces that it has agreed the purchase of two assets in Germany for a total consideration of EUR290.9 million excluding acquisition costs. The two transactions are structured as share deals and the combined rental income amounts to EUR11.38 million per annum, reflecting a combined net initial yield of 3.9%.
makinbuks: We're all hoping that what has happened to BBOX in the UK will be replicated on the continent with EBOX. To be honest I wouldn't expect to see huge share price growth from a property company paying out its income as dividends. I'm happy if the discount to NAV is narrow, the market supports the thesis and keeps the NAV moving upwards and the income is fully covered. This is a diversifying holding not a growth play
cwa1: Some good news this morning:- 12 March 2021 INVESTMENT GRADE RATING ASSIGNED TO TRITAX EUROBOX BY FITCH RATING LIMITED Tritax EuroBox plc (EuroBox or the Company), which invests in a high-quality portfolio of very large, prime logistics real estate assets strategically located across continental Europe, announces that Fitch Ratings Limited (Fitch) has assigned a BBB- long-term corporate credit rating to the Company, EuroBox's first Investment Grade credit rating. As a result, the ratings condition in the existing revolving facility agreement is satisfied, which will result in a step down in the cost of this debt of approximately 30 basis points (depending on the prevailing Loan to Value ratio). In addition to the immediate strengthening of the Company's earnings per share due to the reduction in financing costs, the Investment Grade credit rating will allow the Company access to the Debt Capital Markets in line with its near-term ambition. Mehdi Bourassi, Finance Director of Tritax EuroBox, commented: "The Company's recent successful fundraise allows us to capitalise further on the significant opportunities that exist in the continental European logistics real estate market. Obtaining an Investment Grade credit rating marks a significant milestone in the evolution of the Company, demonstrating our maturity and stability. It will enable access to a wider pool of financing strategies, leading to even greater resilience and a lower cost of debt. We look forward to updating investors on the deployment of the recently raised capital as we further strengthen and diversify our portfolio in line with our long-term strategy."
speedsgh: Tritax Eurobox seeks £173m as it looks to double in size - HTTPS:// Tritax Eurobox (EBOX) has announced plans to raise for a £173m (€200m) equity raise, after a strong rally in its shares since the autumn with the European ‘big box’ market buoyant amid an e-commerce boom. The listed property fund, the sister strategy of the UK-focused £3.2bn Tritax Big Box (BBOX), is £446m in size today and counts tenant likes Amazon in its portfolio of continental logistics assets. EBOX is planning to issue 168 million shares at a price of 103p per share, as well as seeking approval for a placing programme of another 300m shares. Taken together, that would more than double the real estate investment trust’s size. ‘Current rates of market penetration for online sales in Continental Europe materially lag that seen in the UK and has the potential to grow exponentially in the coming years,’ said QuotedData’s property analyst Richard Williams. Unlike some of the most recent closed-end fund raisings, the share issue is available to private investors through the intermediary offer for stockbrokers. The new shares are priced at the end-of-September net asset value (NAV) of €1.19, converted at the current exchange rate, representing a 2.4% discount to yesterday’s closing share price. However, broker Numis Securities said the issue was being undertaken at a 2% premium when adjusting for the two dividends which have been paid since the autumn. EBOX’s shares slipped 1.4% to 104p after the announcement on Friday. Tritax expects to use the proceeds from the equity raise, along with existing cash and debt, to acquire a near-term pipeline of prime big box logistics assets. This includes three properties in Germany with a value of €317m, plus three more locations valued at €99m, two in Italy and one in Germany. All the assets have been sourced off-market through relationships with developers and asset managers. Nick Preston and Mehdi Bourassi, the managers of the 3.8% yielding property fund, have also identified €81m of development opportunities within EBOX’s current portfolio. Adding value through development is something the managers have said is an increasing focus against the backdrop of rising prices and lower yields in core markets, as retailers scramble to respond to increased demand for online shopping during the Covid-19 pandemic. They are confident the proceeds of the initial raise can be deployed within three months. The fund also announced the sale of an asset in Poland for €65.5m at a 15% uplift earlier this week. Additionally, EBOX has agreed to reduce its management fees by 0.15% on net assets above €500m (£433m). Fees will now be 1.3% per annum up to €500m, 1.15% to €2bn and 1% thereafter. Previously, 1.3% was levied on assets up to €1bn. Numis analyst Andrew Rees noted that still left charges considerably higher than its nearest competitor, £297m Aberdeen Standard European Logistics Income (ASLI). ‘While the fee reduction will be welcomed by shareholders, it is interesting to note that it remains considerably higher than [ASLI], which charges 0.75% of net assets up to €1.25bn and 0.60% thereafter and also offers exposure to European Logistics markets,’ he said. The issue and placing programme will be put to shareholders at a general meeting on 8 March. EBOX’s shareholders have received an 11.7% total return since the fund listed in July 2018, according to Morningstar data. ASLI, whose shares have moved to trade at a wide 18% premium, has delivered 34.5% over the same period, although NAV growth has been more muted. ASLI-manager Aberdeen Standard Investment announced it would buy a 60% stake in Tritax in December.
speedsgh: Call me a cynic but I guess this partly explains the strong share price recently. Regardless I will also be partaking.
speedsgh: EUR65.5M asset sale in Poland ahead of book value - HTTPS:// Recycling assets to capitalise on value-add opportunities €65.5 MILLION SALE OF LOGISTICS PROPERTY IN LODZ, POLAND, 15% AHEAD OF LATEST BOOK VALUE Tritax EuroBox plc ("Tritax EuroBox" or the "Company") announces that it has agreed the sale of its asset in Lodz, Poland for €65.5 million, 15% above its most recent valuation at 30 September 2020 and, based on the Company's target gearing of 45%, delivering an attractive geared IRR of 16.5% to shareholders, above the Company's long term target of 9% total return per annum. The asset was originally acquired by the Company in April 2019 and included a forward funding pre-let development opportunity to expand the existing site by a further 52,000sqm, which was completed in May 2019. Since then, the asset has provided a period of stable income and capital growth. With an unexpired lease term of 6.7 years to Castorama and no other imminent asset management opportunities remaining at the 101,000 sqm asset, the sale allows the Company to realise gains through the profitable disposal of Lodz and recycle proceeds into higher returning asset management initiatives and its strong development pipeline, in line with the Company's refined strategy. The sale, to clients of Savills Investment Management, is for €65.5 million before capital gains tax, representing a 4.95% gross initial yield, compared to a purchase cost of €55.0 million, which reflected a gross initial yield of 5.80%. Nick Preston, Fund Manager of Tritax EuroBox, commented: "The positive structural trends, which underpin the significant demand for logistics space, are expected to continue to strengthen further over the long-term. This profitable sale of one of our earlier asset purchases, 15% ahead of the latest book value, has delivered strong returns to our investors and is in line with our refined strategy of taking full advantage of these trends and crystalising profit, allowing us to redeploy capital into higher returning investment opportunities. These attractive value-add opportunities include asset management initiatives within our existing high-quality portfolio and also the funding of new assets from the attractive pipeline we have access to through our development partners. This development pipeline enables us to acquire new high-quality logistics assets in a more cost-effective manner than competing in the open market, delivering enhanced value to our shareholders."
speedsgh: 100% of rent collected as at February 2021 - HTTPS:// Tritax EuroBox plc (EuroBox or the Company), which invests in a high-quality portfolio of very large, prime logistics real estate assets strategically located across Continental Europe, today provides an update on its rent collection and strong financial position. Continuing robust rent collection underpinned by the critical nature of prime logistics assets in Continental Europe Positive structural tailwinds in the form of accelerated omnichannel take-up, urbanisation and digitalisation, which Covid-19 is further strengthening, continue to reinforce the importance of prime, sustainable, modern and highly automated logistics space to occupiers. The Company's portfolio demonstrates this, comprising buildings which are key operating assets for tenants' businesses, handling the goods and services that their underlying customers continue to require. Since the previous rent collection announcement, as at 12 February 2021: • 100% of agreed rent due has been received; and • there have been no requests from occupiers to waive or defer rent. In the financial year to September 2020, approximately €1.6 million of rent was deferred to be received in nine equal monthly instalments from January to September 2021. The repayments for January and February have been received in full, as expected. The robustness of the Company's rent collection supports this week's dividend announcement increasing the Company's quarterly dividend from a previous level of 1.1 cent per share to 1.25 cent per share. Mehdi Bourassi, Finance Director of Tritax EuroBox, commented: "Our consistently strong rent collection figures demonstrate the very strong resilience of our assets, reinforcing the importance of these buildings to our tenants as they form a critical part of their business operations. The profound structural changes in consumer behaviour across the market continue to transform the European real estate market and further strengthen the prospects for the European logistics sector. Our assets are ideally positioned to capture these opportunities and to deliver further dividend growth and robust shareholder returns."
speedsgh: New green lease agreed with Samsung SDS - HTTPS:// The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics real estate assets, is delighted to announce the completion of a new green lease at the Company's property in Breda, a prime logistics location in the West Brabant region of the Netherlands. This new, well-specified multi-let and sustainable property was acquired by the Company in December 2019. The property has a gross internal area of 46,022 sqm and is divided into four units, with eaves height of 12 metres and with significant yard area and parking. The property is sustainable with a BREEAM 'Very Good' rating with solar panels across the entire roof and LED lighting, providing the tenant with efficient and low carbon energy use. Two units with a combined gross internal area of 20,415 sqm are already leased to Abbott Logistics B.V., part of Abbott Laboratories, on a 10-year lease term. The remaining two units benefited from a 12-month third party rental guarantee to the Company. The Company has now let the two vacant units with a combined gross internal area of 25,607 sqm to Samsung SDS Global SCL Netherlands Coöperatief U.A., part of Samsung SDS, the IT arm of the Samsung Group. The lease has been agreed for a three-year term from 15 December 2020 at an initial annual headline rent 6% above the level of the rental guarantee secured at acquisition. The new rent will be subject to annual CPI uplifts reflecting 100% of the Dutch Consumer Price Index Sustainability is fundamental to the Company's ability to create long-term value for shareholders and in line with its long-term sustainability strategy. We have collaborated with Samsung to include green clauses in the lease agreement to ensure the commitment of the tenant to use the building in a sustainable way, sharing data on energy, water consumption waste management and recycling. Securing this letting with such a high-quality tenant ahead of the expiry of the rental guarantee further demonstrates the strength of our properties and locations. Following the completion of this new letting, the property is now fully let to Abbott Logistics B.V. and Samsung SDS Global SCL Netherlands Coöperatief U.A. Alina Iorgulescu, Assistant Fund Manager of Tritax EuroBox, commented: "This letting further diversifies the portfolio by tenant covenant and validates our strategy of buying high quality sustainable assets, situated in prime logistics locations. These locations experience strong occupier demand and constrained supply as well as benefitting from the value of the Company's sector specific expertise and local presence through its market-leading asset managers with deep local knowledge. We look forward to a long and productive relationship with Samsung in Breda. We are particularly pleased to have signed our first green lease with a company similarly committed to ESG principles."
speedsgh: Following today's news of Aberdeen Standard Investments acquiring a 60% stake in Tritax Management, the investment manager of EBOX, might this be a pre-cursor to ASLI (which focuses on smaller, last mile logistics assets with an average property size 26,500 sq m) merging with EBOX (which has much larger, big box assets; average property size 76,000 sq mbig boxes) at some point in the future?... Update on the Manager - HTTPS:// The Board of Tritax EuroBox plc (the "Company") notes today's announcement by Tritax Management LLP (the "Manager") and Aberdeen Standard Investment ("ASI") (hxxps:// in relation to ASI's intention to acquire a 60% interest in the Manager. The Board has satisfied itself, through discussions with the Manager and with ASI, that the partnership with ASI both strengthens the Manager and is aligned with the long-term interests of the Company's shareholders. The Board is reassured that there are no changes to the personnel responsible for the Company with its dedicated fund management team, led by Nick Preston, continuing to retain operational independence and autonomy over decision making under the Tritax brand. In addition, the Board sees the potential for longer term benefits for shareholders arising from the Manager forming part of ASI's large investment platform which has a network of professionals based in local offices across Europe. Commenting on the announcement, Robert Orr, Chairman of Tritax EuroBox plc said : "As our recent results demonstrated, the Company is very well positioned in the European logistics markets where growth is accelerating, with high-quality assets and valuable partnerships with key developers. The Board believes the strategic partnership between the Manager and ASI is a positive step for the Company, supporting our overall growth objectives. The Board believes the transaction complements the Manager with a strong, stable and long-term institutional partner that has extensive experience in European real estate investment."
speedsgh: Dividend Declaration - HTTP:// The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics real estate assets, has today declared an interim dividend in respect of the period from 1 July 2020 to 30 September 2020 of 1.10 cent per Ordinary Share, payable on or around 8 January 2021 to shareholders on the Register on 11 December 2020. The ex-dividend date will be 10 December 2020. The total 1.10 cent dividend per Ordinary Share will be designated as interest distribution...
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