Tritax Big Box REIT PLC
BBOX
ISIN GB00BG49KP99 / Valor 22933126
Tritax Big Box REIT PLC
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About company
Tritax Big Box REIT PLC is a prominent player in the UK logistics real estate sector, specializing in the development, ownership, and management of large-scale, high-quality logistics spaces. The company strategically focuses on key distribution networks across the UK, leveraging its extensive land platform to cater to the growing demand in the logistics and supply chain industry. Tritax Big Box partners with established and renowned brands, providing them with bespoke property solutions that are critical to their supply chain operations. The firm's deep expertise in the sector, combined with its significant scale and comprehensive market intelligence, positions it to effectively address the evolving needs of its clients. Through its focus on strategic locations and commitment to delivering state-of-the-art logistics facilities, Tritax Big Box plays a vital role in supporting the infrastructure of the UK's retail and industrial sectors.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.08.2024):
Income Growth
Tritax Big Box REIT PLC reported a significant increase in income for the six months ended 30 June 2024. The company's adjusted earnings per share (excluding additional development management income) rose by 10.4% to 4.35 pence, compared to 3.94 pence in the same period of 2023. This growth was driven by higher net rental income and contributions from Development Management Agreements (DMA).
Revenue and Rent Roll
The company's contracted annual rent roll saw a substantial increase of 34.7%, reaching £303.4 million as of 30 June 2024, up from £225.3 million at the end of 2023. This growth was primarily attributed to the acquisition of UK Commercial Property REIT Limited (UKCM), along with rent reviews and asset management activities.
Portfolio Value
Tritax Big Box REIT PLC's total portfolio value increased by 27.2% to £6.40 billion as of 30 June 2024, compared to £5.03 billion at the end of 2023. This rise was largely due to the acquisition of UKCM, with the equivalent yield remaining stable at around 5.7%.
Dividend and Payout Ratio
The company declared a dividend per share of 3.65 pence for the first half of 2024, representing a 4.3% increase from the 3.50 pence declared in the same period of 2023. The dividend payout ratio, excluding additional DMA income, remained consistent at 89%.
Future Outlook
Tritax Big Box REIT PLC is optimistic about future earnings growth, supported by a record logistics portfolio reversion. The company has the potential to capture an additional £68.2 million in rent, with £43.4 million subject to lease events by the end of 2026. This, along with ongoing asset management and development activities, positions the company well for continued growth.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4059 M
Market cap (USD)
2,852,993
Daily traded volume (Shares)
1.32 / 1.292
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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