Tritax Eurobox (GBP) (EBOX)

Sector:

Real Estate

Index:

FTSE Small Cap

 93.60p
   
  • Change Today:
      0.000p
  • 52 Week High: 102.00
  • 52 Week Low: 68.80
  • Currency: UK Pounds
  • Shares Issued: 422.73m
  • Volume: 0
  • Market Cap: £395.67m
  • RiskGrade: 129

Tritax EuroBox shares slip as it works towards dividend target

By Josh White

Date: Tuesday 10 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Continental Europe-focussed real estate asset investor Tritax EuroBox reported a basic net asset value of €477.3m for the quarter through September on Tuesday, and an EPRA net asset value of €484.2m.
The London-listed firm said its basic net asset value per share was €1.13 at period end, and its EPRA net asset value per share was €1.15.

IFRS earnings per share for the quarter stood at 6.25 cents, while its adjusted earnings per share were 3.25 cents and its EPRA earnings per share were 2.96 cents.

Dividends paid or declared for the period totalled 3.4 cents, which was 85.3% covered by adjusted earnings per share.

The board said the company remained on track to meet its dividend target once fully invested and geared, and expected then to be able to increase the dividend progressively, supported by the regular indexation events in the underlying lease agreements, and the capture of market rental growth.

Total return for the period stood at 3.4%, with the company's total unsecured revolving credit facility standing at €425m with an average cost of debt of 2.2%.

Tritax EuroBox's loan-to-value ratio was 33.3% as at 30 September, against its medium-term target of 45%.

The board said the portfolio had a contracted annualised passing rent of €34.8m as at 30 September.

Gross equity proceeds had been raised in two tranches totalling €474.3m during the quarter - €339.3m at its "significantly oversubscribed" initial public offering in July 2018, and €135m raised on 29 May through a placing, with investment from both new investors and existing shareholders.

"The outlook for our market remains compelling," said chairman Robert Orr.

"The structural change which is driving occupier demand for big boxes has only recently started and hence has much further to run, while the supply of appropriate new assets to meet this demand is likely to remain constrained.

"This implies a continuation of the supportive market conditions for our company's strategy."

Orr said that when acquiring, the group would continue to target the largest logistics assets, while maintaining its focus on quality, location and capital discipline.

"Overall, the board remains confident in the future of the business and I look forward to reporting on continued progress next year."

At 1535 GMT, shares in Tritax EuroBox were down 0.56% at 92.28p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

EBOX Market Data

Currency UK Pounds
Share Price 93.60p
Change Today 0.000p
% Change 0.00 %
52 Week High 102.00
52 Week Low 68.80
Volume 0
Shares Issued 422.73m
Market Cap £395.67m
RiskGrade 129

EBOX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.44% above the market average37.44% above the market average37.44% above the market average37.44% above the market average37.44% above the market average
28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average
Price Trend
11.47% above the market average11.47% above the market average11.47% above the market average11.47% above the market average11.47% above the market average
35.71% above the sector average35.71% above the sector average35.71% above the sector average35.71% above the sector average35.71% above the sector average
Income
67.87% above the market average67.87% above the market average67.87% above the market average67.87% above the market average67.87% above the market average
58.14% above the sector average58.14% above the sector average58.14% above the sector average58.14% above the sector average58.14% above the sector average
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EBOX Dividends

  Latest Previous
  Q3 Q2
Ex-Div 13-Aug-20 28-May-20
Paid 07-Sep-20 15-Jun-20
Amount 1.10¢ 1.10¢

Trades for --2020

Time Volume / Share Price
0 @ 0.000p

EBOX Key Personnel

Chair Robert Orr

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