Tritax Big Box REIT (BBOX) AI Stock Analysis

• Market Cap: £3.53B
• Dividend Yield: 5.51%
• Average Volume (3M): 5.45M
• Price to Earnings (P/E): 8.3
• Beta (1Y): 1.37
• Revenue Growth: 35.06%
• EPS Growth: 127.62%
• Country: UK
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.05
• Shares Outstanding: 2,480,677,500
• 10 Day Avg. Volume: 7,039,445
• 30 Day Avg. Volume: 5,450,050
• PEG Ratio: 0.02
• Price to Book (P/B): 0.66
• Price to Sales (P/S): 10.21
• P/FCF Ratio: 15.38
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £174.50
• Price Target Upside: 22.63% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 79 Outperform
• Price Target: 160.00p ▲(12.44% Upside)

Tritax Big Box REIT demonstrates strong financial performance and strategic growth potential, particularly in logistics and data centers, as highlighted in the earnings call. The stock's valuation is attractive with a low P/E ratio and high dividend yield. Technical indicators are neutral, suggesting no immediate trend direction. The company's financial stability is solid, though increased leverage and past revenue volatility are potential risks.

Positive Factors

Revenue Growth

The significant increase in net rental income reflects strong demand for logistics properties, supporting sustainable revenue growth and enhancing long-term profitability.

Strategic Execution

Successful strategic initiatives, such as asset integration and data center expansion, position the company for future growth and competitive advantage in the logistics sector.

Growth Outlook

The ambitious growth target underscores the company's strong market position and strategic focus on expanding rental income and development pipelines, ensuring long-term value creation.

Negative Factors

Increased Leverage

Rising debt levels could limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities and maintain stable cash flows.

Revenue Volatility

Past revenue volatility may indicate challenges in maintaining consistent growth, which could affect investor confidence and the company's ability to achieve long-term financial targets.

Market Vacancy

Rising vacancy rates and reduced speculative development could hinder future occupancy rates and rental income growth, challenging the company's market position.

Tritax Big Box REIT Business Overview & Revenue Model

Company Description

Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets (Big Boxes) in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and developments predominantly delivered through pre-let forward funded basis, the Company focuses on large, well-located, modern Big Box logistics assets, let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited supply of Big Boxes. The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies (REIT), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

How the Company Makes Money

Tritax Big Box REIT generates revenue primarily through rental income from its portfolio of logistics properties. The company leases its properties to a diverse range of tenants, including major retailers and logistics companies, typically under long-term leases that provide stable and predictable cash flows. Additionally, the REIT may benefit from property appreciation and value enhancement initiatives, such as refurbishments or expansions, which can lead to increased rental rates. The company also engages in strategic partnerships and joint ventures to expand its portfolio and enhance its market presence, further contributing to its revenue streams.

Tritax Big Box REIT Financial Statement Overview

Summary

Tritax Big Box REIT's financial statements reflect strong growth and profitability, particularly in the latest year, with efficient cost management and solid cash flow generation. While the company is financially stable with a robust equity base, potential risks include increased leverage and past revenue volatility.

Income Statement

The income statement shows impressive revenue growth with a significant turnaround from negative to positive revenue in 2024. Gross profit margins are high, and there is a notable improvement in net income from 2023 to 2024. The EBIT margin is exceptionally strong, indicating efficient cost management. However, the volatility in revenue from 2022 to 2023, due to the negative figures, poses potential stability concerns.

Balance Sheet

The balance sheet displays a solid equity ratio, indicating strong financial stability. The debt-to-equity ratio is reasonable, reflecting manageable leverage. The company has increased its stockholders' equity significantly over the years. However, the increase in total debt from 2023 to 2024 requires attention, as it may impact future financial flexibility.

Cash Flow

Cash flow analysis reveals consistent free cash flow generation with a positive operating cash flow trend, supporting the company's operational efficiency. The operating cash flow to net income ratio is favorable, indicating effective cash management. However, the fluctuations in capital expenditures and investing cash flow suggest potential volatility in investment activities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	243.95M	294.30M	228.80M	-573.50M	996.10M	487.30M
Gross Profit	223.55M	276.10M	222.50M	-607.70M	964.80M	464.70M
EBITDA	214.10M	266.00M	179.10M	0.00	0.00	0.00
Net Income	341.80M	445.50M	70.00M	-599.40M	972.60M	449.40M
Balance Sheet
Total Assets	6.99B	6.70B	5.10B	5.16B	5.59B	4.41B
Cash, Cash Equivalents and Short-Term Investments	53.10M	80.60M	36.40M	47.40M	70.90M	57.60M
Total Debt	2.16B	1.95B	1.62B	1.61B	1.35B	1.34B
Total Liabilities	2.35B	2.13B	1.77B	1.81B	1.52B	1.49B
Stockholders Equity	4.63B	4.57B	3.33B	3.35B	4.08B	2.92B
Cash Flow
Free Cash Flow	161.00M	195.40M	185.30M	177.40M	191.90M	7.60M
Operating Cash Flow	161.00M	195.40M	185.30M	177.40M	196.10M	137.60M
Investing Cash Flow	-183.00M	-82.30M	-67.20M	-302.10M	-327.30M	-150.20M
Financing Cash Flow	39.50M	-68.70M	-81.30M	101.20M	144.50M	49.00M

Tritax Big Box REIT Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 142.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BBOX, the sentiment is Positive. The current price of 142.3 is above the 20-day moving average (MA) of 138.62, above the 50-day MA of 139.35, and above the 200-day MA of 137.49, indicating a bullish trend. The MACD of 0.66 indicates Negative momentum. The RSI at 58.88 is Neutral, neither overbought nor oversold. The STOCH value of 84.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BBOX.

Tritax Big Box REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BBOX	79 Outperform	£3.53B	8.30	9.42%	5.51%	35.06%	127.62%
BYG	74 Outperform	1.84B	9.12	7.87%	4.93%	2.44%	-18.76%
LMP	74 Outperform	4.18B	10.52	8.50%	6.80%	122.74%	60.58%
SGRO	71 Outperform	8.60B	13.87	4.93%	4.70%	-4.77%	0.00%
LAND	66 Neutral	4.17B	10.53	6.08%	5.91%	0.97%	0.00%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Tritax Big Box REIT Corporate Events

Tritax Big Box REIT Finalizes Warehouse REIT Bid Without Increase

Tritax Big Box REIT has announced that it will not be increasing its cash and share offer for the acquisition of Warehouse REIT PLC, despite a competitive bid from Wapping Bidco Ltd. The decision reflects Tritax’s commitment to disciplined capital allocation and its belief that a higher offer would not benefit its shareholders. This move concludes the bidding process for Warehouse REIT, with Tritax maintaining its strategic focus on efficient capital management and potential future M&A opportunities.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £153.00 price target. To see the full list of analyst forecasts on Tritax Big Box REIT stock, see the GB:BBOX Stock Forecast page.

Tritax Big Box REIT Announces Significant Share Purchase by Management

Tritax Big Box REIT has announced the purchase of 1,817,423 ordinary shares by its management team and partners, including persons discharging managerial responsibilities (PDMRs) and abrdn Holdings Limited. This acquisition, conducted under the terms of the Investment Management Agreement, reflects the company’s strategy to align management interests with shareholders and could potentially enhance stakeholder confidence in its operational and market strategies.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £2.00 price target. To see the full list of analyst forecasts on Tritax Big Box REIT stock, see the GB:BBOX Stock Forecast page.