Tritax EuroBox PLC Research from QuotedData
21 Novembre 2022 - 11:35AM
RNS Non-Regulatory
TIDMEBOX
Tritax EuroBox PLC
21 November 2022
Tritax EuroBox - Update research from QuotedData
21st November 2022
Opportunity knocks
The share prices of many logistics-focused real estate
investment trusts (REITs), including Tritax EuroBox (EBOX), have
been hit as interest rates have risen and the investment market has
cooled. Inevitably, valuations in the low-yielding logistics
property sector will fall (and property yields rise) as the higher
cost of debt chokes off investment.
However, the occupier market is still a landlord's market, with
record low supply and robust demand putting owners in an
advantageous position, meaning rental growth is very much in the
picture. This will have an offsetting effect on softening (rising)
property yields. EBOX has announced a number of leasing deals at
significant uplifts to previous rents and with superior terms, such
as annual uncapped inflation-linked uplifts.
The market sell-off of logistics-focused companies has seen
EBOX's share price fall to a 49.3% discount to net asset value
(NAV). This is staggering, given that the fundamental
characteristics in the European logistics market are still
favourable.
Full research:
https://quoteddata.com/research/tritax-eurobox-opportunity-knocks-qd/
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(END) Dow Jones Newswires
November 21, 2022 05:35 ET (10:35 GMT)
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