Tritax Big Box REIT (BBOX) AI Stock Analysis

• Market Cap: £4.24B
• Dividend Yield: 5.3%
• Average Volume (3M): 6.17M
• Price to Earnings (P/E): 9.2
• Beta (1Y): 1.28
• 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: 2,702,122,000
• 10 Day Avg. Volume: 5,429,908
• 30 Day Avg. Volume: 6,165,895
• 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: £221.25
• Price Target Upside: 40.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 83 Outperform
• Price Target: 173.00p ▲(9.49% Upside)

Tritax Big Box REIT scores highly due to its strong financial performance, attractive valuation, and positive corporate events. The earnings call supports future growth potential, while technical indicators suggest a positive trend. However, increased leverage and market vacancy present some 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: 158.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 158 is above the 20-day moving average (MA) of 152.28, above the 50-day MA of 149.94, and above the 200-day MA of 141.98, indicating a bullish trend. The MACD of 2.89 indicates Negative momentum. The RSI at 71.40 is Negative, neither overbought nor oversold. The STOCH value of 81.48 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	83 Outperform	£4.24B	9.22	9.42%	5.30%	35.06%	127.62%
LMP	80 Outperform	£4.56B	13.12	7.22%	6.67%	43.70%	40.28%
SRE	77 Outperform	£1.51B	8.44	12.51%	5.71%	4.80%	37.75%
SGRO	75 Outperform	£9.89B	15.91	5.20%	4.25%	-4.77%	―
BLND	75 Outperform	£3.97B	11.31	6.14%	5.85%	-20.83%	―
LAND	73 Outperform	£4.66B	18.73	3.85%	6.34%	10.69%	135.58%
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 Announces Successful Tender Offer Results

Tritax Big Box REIT plc announced the results of its tender offer for its £250 million 2.625% Notes due in December 2026, receiving valid tenders totaling £184.4 million. The purchase price for the tendered notes was set at 98.644%, with the settlement date expected on 13 November 2025. Following the settlement and cancellation of the purchased notes, £65.6 million in notes will remain outstanding. This move reflects Tritax Big Box’s strategic financial management and may impact its liquidity and debt profile, potentially influencing stakeholder confidence and market positioning.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £175.00 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 Strengthens Financial Position with £300 Million Bond Issuance

Tritax Big Box REIT plc has successfully priced £300 million of unsecured bonds maturing in 2032, under its £1.5 billion Euro Medium Term Note Programme, following strong institutional demand. This move, alongside a tender offer to repurchase existing bonds, strengthens the company’s balance sheet, extends its debt maturity profile, and enhances financial flexibility, reflecting confidence in its growth strategy.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £175.00 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 Total Voting Rights Update

On 31 October 2025, Tritax Big Box REIT plc announced that its issued share capital consists of 2,702,122,165 Ordinary Shares, each with equal voting rights. This information is crucial for shareholders to determine their interests under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their investments in the company.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £175.00 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 Credit Rating Upgraded to A3 by Moody’s

Tritax Big Box REIT plc has received an upgrade in its credit rating from Moody’s to A3, reflecting its increased scale, portfolio diversification, and focus on high-quality logistics assets. The upgrade follows a strategic portfolio acquisition from Blackstone, enhancing the company’s competitive edge and operational flexibility. This improved rating is expected to enhance access to diverse capital sources, supporting Tritax’s growth strategy and financial goals.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £175.00 price target. To see the full list of analyst forecasts on Tritax Big Box REIT stock, see the GB:BBOX Stock Forecast page.

Aberdeen to Fully Acquire Tritax Management by 2029, Ensuring Strategic Continuity for Tritax Big Box REIT

Tritax Big Box REIT plc announced that Aberdeen intends to increase its stake in Tritax Management LLP from 60% to 100% by 2029, enhancing the manager’s capabilities and access to global investment expertise. This acquisition will not affect the company’s operations or investment management agreement, ensuring continuity in leadership and strategic delivery. The leadership team remains committed to advancing the company’s growth drivers, including rental reversion and logistics development, while benefiting from Aberdeen’s global expertise.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £175.00 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 Completes Strategic £1.04 Billion Logistics Portfolio Acquisition

Tritax Big Box REIT has completed the acquisition of a £1.04 billion logistics portfolio from Blackstone Europe LLP, funded through a combination of cash and new shares. This strategic acquisition is expected to enhance Tritax’s earnings per share, expand its urban logistics offerings, and strengthen its position in the UK logistics market. The acquisition is anticipated to deliver immediate financial benefits, including mid-single-digit EPS accretion and enhanced returns above the cost of capital, supporting Tritax’s goal of growing adjusted earnings by 50% by 2030. Blackstone’s investment as a shareholder reflects confidence in Tritax’s strategy and the UK logistics sector, with the acquisition offering significant rental reversion potential and a compelling entry point due to replacement costs exceeding the acquisition price.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £185.00 price target. To see the full list of analyst forecasts on Tritax Big Box REIT stock, see the GB:BBOX Stock Forecast page.