Tritax Eurobox (GBP) (EBOX)

Sector:

Real Estate

Index:

FTSE Small Cap

91.20p
   
  • Change Today:
    -0.40p
  • 52 Week High: 98.00
  • 52 Week Low: 89.80
  • Currency: UK Pounds
  • Shares Issued: 422.73m
  • Volume: 551,264
  • Market Cap: £385.53m
  • RiskGrade: 72

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 91.20p
Change Today -0.40p
% Change -0.44 %
52 Week High 98.00
52 Week Low 89.80
Volume 551,264
Shares Issued 422.73m
Market Cap £385.53m
RiskGrade 72

EBOX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
5.80% above the market average5.80% above the market average5.80% above the market average5.80% above the market average5.80% above the market average
24.14% below the sector average24.14% below the sector average24.14% below the sector average24.14% below the sector average24.14% below the sector average
Price Trend
24.46% below the market average24.46% below the market average24.46% below the market average24.46% below the market average24.46% below the market average
43.33% below the sector average43.33% below the sector average43.33% below the sector average43.33% below the sector average43.33% below the sector average
Income
57.50% above the market average57.50% above the market average57.50% above the market average57.50% above the market average57.50% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Growth Not Available

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
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
  Q4 Q3
Ex-Div 05-Mar-20 19-Dec-19
Paid 27-Mar-20 15-Jan-20
Amount 1.10¢ 1.00¢

Trades for 18-Feb-2020

Time Volume / Share Price
16:41 50,000 @ 91.00p
16:39 50,000 @ 91.00p
16:35 1,749 @ 91.20p
16:29 288 @ 90.80p
16:27 1,509 @ 91.00p

EBOX Key Personnel

Chair Robert Orr

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