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Tritax Eurobox Plc

March 12, 2024
Harvest News
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Tritax Eurobox

This months Fund in Focus is Tritax Eurobox Plc. Tritax is a London Stock Exchange listed property company specialising in investing in logistics properties across Europe. Its properties benefit from long term leases and index-linked rents. Again, the company generates significant surplus income on its rents which is distributed back to shareholders on a twice-yearly basis. The net asset value (NAV) of its investments is currently Stg£0.98 per share while its shares are currently trading at Stg£0.63, a discount of 32% to their underlying value. The current annual dividend yield on the shares is 7.7%.

Key Points

  • Tritax currently owns a portfolio of 24 logistics assets in continental Europe, diversified by geography and tenant, and valued at €1.6 billion.
  • The company recently disposed of three assets at a significant premium to book value.
  • Tritax has been reducing its gearing levels and targets a 40% debt to equity ratio at the end of 2024.
  • As index-linked rental increases kick in over the near future, we would expect annual dividend payments to rise steadily.

In our view, the fall in the share price since 2022, represents a value buying opportunity.

Tritax Eurobox Plc – 5 Year Share Price and NAV Performance 

Tritax Eurobox

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This marketing information has been provided for discussion purposes only. It is not advice and does not take into account the investment needs and objectives, financial position, risk attitude, liquidity needs, capital security needs and/or capacity for loss of any particular person. It should not be relied upon to make investment decisions.
Warning: The return may increase or decrease as a result of currency fluctuations.
Warning: The figures refer to the past. Past performance is not a reliable indicator of future results.
Warning: The value of your investment may go down as well as up. You may get back less than you invest.
Warning: The income you get from this investment may go down as well as up.