Annual Overview from QuotedData

Tritax EuroBox PLC

12 July 2023

 

 

Tritax EuroBox - Annual Overview from QuotedData

12^th July 2023

Optimism returns

The rapid readjustment of valuations in the European logistics sector has encouraged investors seeking quality assets to return to the market, bringing optimism to Tritax EuroBox's (EBOX's) manager that values are stabilising. The company's portfolio yield moved out 70 basis points (bps - equivalent of 0.7%) in the six months to 31 March 2023, but the worst of the declines seem to be over.

Operationally, the company is in good shape to take advantage of a strong demand and supply dynamic, having recorded an uplift in annual rent of 5.8% in the six months to March 2023 (10.4% over 12 months). It has recently let a completed development in Germany above estimated rental value (ERV) and pre-let an extension to an existing building. Additional development completions, extensions and inflation-linked uplifts are still to come.

Growth in income and operational savings have meant that the company has been able to fully cover its dividend with earnings for the past three quarters. Going forward, the manager expects earnings to continue to cover the dividend, which represents an 8.4% dividend yield on the current share price.

Full Research:

https://quoteddata.com/research/tritax-eurobox-optimism-returns-qd/

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NB: Marten & Co was paid to produce this note on Tritax EuroBox Plc and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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