Tritax Big Box REIT plc Trading Statement (5122M)
January 21 2016 - 1:00AM
UK Regulatory
TIDMBBOX
RNS Number : 5122M
Tritax Big Box REIT plc
21 January 2016
21 January 2016
TRITAX BIG BOX REIT PLC
(the "Company")
TRADING UPDATE
The Board of Tritax Big Box REIT plc (ticker: BBOX) announces an
unaudited estimated EPRA Net Asset Value per ordinary share as at
31 December 2015 of approximately 124.5 pence (the Company's
unaudited basic Net Asset Value per ordinary share is estimated to
be approximately 124.0 pence as at the same date).
This represents an increase of approximately 15.7% as compared
to the audited EPRA Net Asset Value as at 31 December 2014 of 107.6
pence and a total return(1) of approximately 19.2% over the period,
significantly in excess of the Company's medium term target of 9%
per annum. The total shareholder return(2) over the period was
24.1%.
The Board expects to declare a fully covered 3.0 pence per share
dividend for the six months ended 31 December 2015, representing an
aggregate dividend of 6.0 pence per share for the year ended 31
December 2015.
The Board has adopted a progressive dividend policy and intends
to target a dividend of 6.2 pence(3) for the year ending 31
December 2016, representing a rise of 3.3% compared to the total
dividend expected to be declared for 2015 and in excess of the rate
of RPI inflation over the period from the Company's IPO in December
2013 to 31 December 2015. Dividends are expected to be fully
covered by adjusted earnings(4) from the Company's portfolio.
The Company will publish its audited annual results for the year
ended 31 December 2015 in March 2016.
Notes
(1) Total return calculated as change in EPRA Net Asset Value
plus dividends paid.
(2) Total shareholder return calculated as change in share price
plus dividends reinvested in the Company.
(3) This is a target only and not a forecast. There can be no
assurance that the target will be met and it should not be taken as
an indication of the Company's expected or actual future
results.
(4) Adjusted earnings includes licence fees receivable on
forward funded assets.
For further information, please contact:
Tritax Group via Newgate (below)
Colin Godfrey (Partner,
Fund Manager)
Newgate (PR Adviser) Tel: 020 7680 6550
James Benjamin Email: tritax@newgatecomms.com
Alex Shilov
Lydia Thompson
Jefferies International Tel: 020 7029 8000
Limited
Gary Gould
Stuart Klein
Akur Limited Tel: 020 7493 3631
Anthony Richardson
Tom Frost
Siobhan Sergeant
NOTES:
Tritax Big Box REIT plc is a real estate investment trust to
which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT").
The Company invests in a portfolio of well-located, modern "Big
Box" assets, typically greater than 500,000 sq. ft., let to
institutional-grade tenants on long-term leases (typically at least
12 years in length) with upward-only rent reviews (giving inflation
linked earnings growth), and with 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 in high growth areas of the
economy and limited stock supply. The Company is the only listed
vehicle to give pure exposure to the "Big Box" asset class in the
UK.
Further information on Tritax Big Box REIT is available at
www.tritaxbigbox.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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