Tritax Big Box REIT (BBOX) AI Stock Analysis

• Market Cap: £4.11B
• Dividend Yield: 5.15%
• Average Volume (3M): 6.17M
• Price to Earnings (P/E): 8.9
• Beta (1Y): 1.43
• 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: £205.00
• Price Target Upside: 34.16% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: 160.00p ▲(4.71% 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: 152.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 152.8 is above the 20-day moving average (MA) of 149.67, above the 50-day MA of 143.72, and above the 200-day MA of 139.26, indicating a bullish trend. The MACD of 2.58 indicates Negative momentum. The RSI at 65.80 is Neutral, neither overbought nor oversold. The STOCH value of 69.26 is Neutral, 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
LMP	80 Outperform	£4.47B	11.23	8.66%	6.28%	122.74%	60.58%
BBOX	79 Outperform	£4.11B	8.87	9.42%	5.15%	35.06%	127.62%
BYG	76 Outperform	$2.19B	10.85	8.06%	4.18%	2.44%	-18.76%
LAND	74 Outperform	£4.77B	12.05	6.13%	5.19%	0.97%	―
SGRO	74 Outperform	£9.58B	15.45	5.20%	4.12%	-4.77%	―
SHED	73 Outperform	―	―	―	―	4.41%	―
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 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.

Tritax Big Box REIT Acquires £1.04 Billion Logistics Portfolio from Blackstone

Tritax Big Box REIT has announced the acquisition of a £1.04 billion logistics portfolio from Blackstone, expected to enhance earnings and expand their urban logistics footprint. The acquisition, funded through a mix of cash and shares, is strategically positioned to leverage rental reversion potential and strengthen Tritax’s market position, with Blackstone becoming a significant shareholder.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £160.00 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 Appoints Deloitte as New Auditor

Tritax Big Box REIT plc has appointed Deloitte LLP as its new external auditor following a competitive tender process, replacing BDO LLP for the financial year ending 31 December 2026, pending shareholder approval. This change is part of a regulatory requirement for public interest entities to conduct an audit tender every ten years, and it reflects the company’s commitment to maintaining robust governance practices.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £160.00 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 Declares Interim Dividend for Q3 2025

Tritax Big Box REIT plc has announced an interim dividend of 1.915 pence per ordinary share for the period from 1 July 2025 to 30 September 2025, payable on 27 November 2025. This dividend reflects the company’s commitment to maintaining a high payout ratio, with the aim of exceeding 90% of adjusted earnings. The announcement underscores Tritax Big Box’s strategy of delivering consistent returns to shareholders and highlights its strong position in the logistics real estate sector.

The most recent analyst rating on (GB:BBOX) stock is a Buy with a £160.00 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 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’s Strong Earnings and Strategic Growth

The recent earnings call for Tritax Big Box REIT revealed a strong overall performance, characterized by significant growth in earnings and rental income. The company has made strategic moves in debt refinancing and successfully integrated UKCM assets. Despite these positive developments, challenges such as market uncertainties and increased vacancy rates pose potential risks. However, the company’s focus on data center and logistics developments provides optimism for future growth.

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.

Tritax Big Box REIT Declares Interim Dividend for Q2 2025

Tritax Big Box REIT plc has announced an interim dividend of 1.915 pence per ordinary share for the period from April to June 2025, payable in September. This dividend aligns with the company’s policy of distributing 25% of the previous year’s annual dividend in the first three quarters, aiming for a pay-out ratio exceeding 90% of adjusted earnings. The announcement reflects Tritax’s ongoing commitment to providing attractive returns to its shareholders and may influence its market positioning by reinforcing investor confidence.

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.

Tritax Big Box REIT Reports Strong H1 2025 Performance with Strategic Growth Initiatives

Tritax Big Box REIT reported strong financial performance for the first half of 2025, driven by three key growth drivers: capturing rental reversion, developing logistics assets, and expanding data center opportunities. The company achieved a 17.3% increase in net rental income and a 6.4% rise in adjusted earnings per share, supported by strategic asset management and development activities. Tritax is optimistic about its future prospects, with plans to grow adjusted earnings by 50% by 2030 and significant progress in data center projects promising high yields. The company also completed £278.2 million in disposals to support self-funding of growth opportunities, maintaining a strong balance sheet with a 30.9% loan-to-value ratio.

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.

Tritax Big Box Secures Major Lease at Symmetry Park, Rugby

Tritax Big Box REIT plc has signed a 15-year lease agreement with a leading data management company for its newly completed 391,000 sq ft logistics facility at Symmetry Park, Rugby. This transaction sets a new rental high for the scheme, highlighting the location’s strength and the company’s insight-driven approach to development. The facility, built to net-zero carbon standards, underscores Tritax’s commitment to high-quality, sustainable logistics solutions, with strong interest in the remaining units further demonstrating the site’s appeal.

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.

Tritax Big Box REIT to Release 2025 Half-Year Results with Investor Engagement Events

Tritax Big Box REIT plc has announced the release of its 2025 half-year results on August 6, 2025, which will include updates on financial and operational performance, strategic progress, and market insights. The company will host presentations for analysts, institutional investors, and retail investors, providing opportunities for engagement and questions. This announcement reflects Tritax’s ongoing commitment to transparency and stakeholder engagement, potentially impacting its market positioning and investor relations positively.

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.