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The n00b Analysis - Tritax BigBox REIT
FTSE:BBOX
Tritax are a UK REIT specialising in large scale warehouses
Customers include:
Amazon
Morrisons
Howdens
Co-OpArgos
Along with 35 other customers
NO exposure to office, retail or residential properties
FTSE:BBOX
Tritax are a UK REIT specialising in large scale warehouses
Customers include:
Amazon
MorrisonsHowdens
Co-OpArgos Along with 35 other customers
NO exposure to office, retail or residential properties
Current View
Logistics market has continued to strengthen - Tritax support a large number of online retailers
Arguably benefited from online only retail
89% of rents have been paid and a further 11% have been slightly deferred
Logistics market has continued to strengthen - Tritax support a large number of online retailers
Arguably benefited from online only retail
89% of rents have been paid and a further 11% have been slightly deferred
Profit and Loss View
Looking very healthy with 8% Profit growth in 2019
Moving into 2020 Revenue has grown by 14% year on year
Profit continues to increase in line with continued demand
Looking very healthy with 8% Profit growth in 2019
Moving into 2020 Revenue has grown by 14% year on year
Profit continues to increase in line with continued demand
Balance Sheet View
Hold property assets with a value of £3.9m
- increased by £770m (or 25%) in 2019
Funded by loan notes to the value of around £400m - repayable between 6 and 10 years
Debt therefore all very affordable
Debt is a common feature of REITS
Hold property assets with a value of £3.9m
- increased by £770m (or 25%) in 2019
Funded by loan notes to the value of around £400m - repayable between 6 and 10 years
Debt therefore all very affordable
Debt is a common feature of REITS
Cash Flow View
REITs are generally not big cash generators
Their cash balances are reasonably low as they are used to pay quarterly dividends
REITs are generally not big cash generators
Their cash balances are reasonably low as they are used to pay quarterly dividends
Dividend View
Dividend for 2020 forecast to be 6.25p making the yield around 4% (based on current share price)
Dividend growth has been impressive however with an average growth rate of 3.4% last 4 years prior to 2020
Dividend for 2020 forecast to be 6.25p making the yield around 4% (based on current share price)
Dividend growth has been impressive however with an average growth rate of 3.4% last 4 years prior to 2020
Future View
Currently developing two warehouses specifically for Amazon - one of which is set to be the biggest in Europe
They are becoming the warehousing and logistics REIT of choice in the UK - at a time when commerce is moving online
Almost developing a MOAT here
Currently developing two warehouses specifically for Amazon - one of which is set to be the biggest in Europe
They are becoming the warehousing and logistics REIT of choice in the UK - at a time when commerce is moving online
Almost developing a MOAT here
If you are interested and want to invest OR open a virtual account to test your investing skills
You can earn a share worth £100/$100 by simply using the link
http://trading212.com/invite/Gbast0Ny
You can earn a share worth £100/$100 by simply using the link
http://trading212.com/invite/Gbast0Ny
Analysis and Opinions are my own. I am NOT a financial advisor. Please do YOUR OWN research
