Stifel Nicolaus analyst Denese Newton maintained a Hold rating on Tritax Big Box REIT (BBOX – Research Report) today and set a price target of p145.00.
Denese Newton’s rating is based on a combination of factors that reflect both positive developments and existing challenges for Tritax Big Box REIT. The company has shown a positive start to the year, benefiting from a supportive market environment that has facilitated ongoing rental growth. Despite this, there has been a rise in vacancy rates to 6.3%, which is a concern compared to the previous year’s 5.6%.
Furthermore, while the company has successfully disposed of non-core assets at a premium and continues to capture significant reversionary potential, broader market uncertainties persist. These include the potential impacts of tariffs on economic activity and the occupational market. Although the company’s shares have outperformed the sector, trading at a 22% discount to NTA, these uncertainties contribute to the Hold rating, as they may affect long-term performance.
According to TipRanks, Newton is a 3-star analyst with an average return of 4.3% and a 64.00% success rate.