TX2
23 Feb 2017
Re: DIVIDEND The final dividend is likely to be 1.55p as the targeted total divi for year to end Dec 2016 is 6.2p & 4.65p has been paid to date.
nk1999
23 Feb 2017
Re: DIVIDEND I think the results are due on 7th March and dividend for 2016 will be declared at that time.DYOR etc.nk
coldingham
22 Feb 2017
Re: DIVIDEND Should the last dividend in the table not be 2017 instead of 2016?
Kool Keith
22 Feb 2017
Re: DIVIDEND Next payment (check analysis tab then fundamentals Minty)31/12/2016 11/02/2016 12/02/2016 09/03/2016 1.787882 GBp Specia
MINTYMURRAY
21 Feb 2017
DIVIDEND Does anyone know when the next divi is due. Also is the divi paid 6 monthly or quartaly
Hugh Betcher
25 Jan 2017
Bought Just bought c 9,000 shares at 139p. Given my recent track record like bailing out of Fever Tree, all holders should now consider selling.13:54:13 139.028 8,985 12,492
Kool Keith
23 Jan 2017
Re: HL view Thanks for Posting NK.Slightly off topic, I was in Waterstones looking for a book for my youngest, £11.00 v Amazon £5.00 (bought 2 books costing £10 & got free delivery) I immediately thought of Tritax/Amazon. As much as I don't like saying it the high-street, in this once famous (now in-famous) northern seaside resort is dead and the demand for BigBox assets for the likes of Amazon and other on-line retailers will surely grow.'get rich slowly' as long as we get rich, right?
nk1999
22 Jan 2017
HL view "The Big Box is in demand. They may not be pretty, looming alongside major roads and motorways, but they are at the heart of modern logistics and e-commerce. Companies need these huge buildings to house automated goods handling equipment, keeping stock flowing through to the end point of demand as efficiently as possible.The portfolio is let to blue chip clients on long leases, with upward-only rental reviews providing the income growth to fund a progressive dividend policy. Because the nature of what the companies use these buildings for is so fundamental to their very existence, Tritax is unlikely to suffer from unexpected vacancies. Indeed, the company has found tenants seeking to extend leases many years before their current term expires, so determined are they to retain the use of the facility.The business is very simple; they use the experience of the executive team to build a portfolio of in-demand assets where rental growth prospects look encouraging. The debt is kept low, to limit risks. With average interest rates on debt of around 2%, using borrowings to part fund the purchase of assets that have typically offered starting yields of 5.7% makes perfect sense.As a REIT, Tritax is obliged to pay out the majority of profits after management costs, so can't retain much cash. That limits the group's ability to fund acquisitions organically and we've seen repeated equity raises as the company continues to grow. It would be no surprise to see more shares issued this year.We view Tritax as a "get rich, slowly" scheme. It is not trying to shoot the lights out, simply to deliver a steadily increasing dividend. At present, the shares offer a prospective yield of 4.6%."
relaxtwotribes
18 Nov 2016
Re: Have i missed something? Here is an extract from the September Prospectus:-Access to financing: the Company has £641.5 million of committed debt financingin place of which £583.4 million is currently drawn (representing a loan to valueratio of 36 per cent.) with a weighted average term to maturity of 5.3 years,increasing to 6.8 years with extension options. The current blended marginpayable on £570 million of the Company’s committed debt facilities is 1.43 percent. above three month LIBOR. The weighted average all-in capped cost of debtis 2.82 per cent. using interest rate caps and swaps which co-terminate with eachfacilityAs at 30 June 99.3% of debt was hedged. Given the recent £350m of new equity further debt of, say, £150m is implied. The rate of interest payable on that new debt may now be higher than the 2.82% cost quoted above, so any future acquisitions will have to be at a higher yield in order to maintain margins.
TX2
15 Nov 2016
Re: Have i missed something? Quite happy to hold Keith for the foreseeable future & I took up my basic allocation in the recent open offer;and also in the previous one.I bought BBOX as an income share.Overall still show a useful increase in value in addition.I think BBOX has a good specialist portfolio.
Kool Keith
15 Nov 2016
Re: Have i missed something? Thanks TX2.Agree with all your points, the point about upward rent review and the time delay hopefully the interest rate on the debt is fixed longer than the rent review which I'm sure (not looked) it will be.Again thanks for your informed reply, you holding or reducing at the moment (doesn't sound like you're accumulating).
TX2
15 Nov 2016
Re: Have i missed something? Yes most leases,including presently all Tritax leases have upward only rent reviews which will mitigate interest rate rises although there may be a degree of time delay between rate rises & the rent review.However the point I was trying to make is that over the couple of years since BBOX started we have seen perhaps 15% per annum rise in the prices paid for properties on a like for like basis which has allowed property companies to revalue their existing portfolios upwards & improved NAVs which is one of the main basis on which property companies tend to be valued.The others being income & development prospects.Looking at very recent property company NAVs published it looks if at best property valuations are at best flat & in some areas showing a slight decline.You also need to take account of the gearing factor in property valuations.If you have 50% gearing,for example £1m loan & £2m equity in a £3m property,and property values fall 3% your NAV falls 4.5% as the value of the loan remains constant.Time will tell but at the moment I do not see increasing asset prices which have improved our share price in the recent past so this is why I feel we have seen a modest decline in share price which is now about NAV.I would expect it to roughly track this value.
Kool Keith
14 Nov 2016
Re: Have i missed something? TX2.Do we (bbox) not have upward only rent reviews? Thereby reducing the effect of an interest rate rise?
TX2
14 Nov 2016
Re: Have i missed something? Property shares in general have been weaker;possibly due to thoughts that interest rates may rise.Whilst if it happened it would not in the main affect what we are paying as borrowing tends to be fixed for some time ahead.Higher interest rates are however generally negative for property values.We have had a good run re increasing NAV caused by quantitative easing.Probably likely to see smaller NAV rises in future at best in line with inflation.
Floatingboater
14 Nov 2016
Have i missed something? Anyone know why the SP has fallen recently. Now below IPO price of 132p.
