Tritax reported a 10.6% rise in full-year net rental income to £305mn, with benefits from the UK Commercial Property REIT acquisition, developments, and rental growth more than offsetting the negative impact of disposals. Operating profit grew 6.1% to £281mn.
The portfolio value increased from £6.6bn to £7.9bn, largely driven by the £1.0bn acquisition of Blackstone’s logistics portfolio. This resulted in the loan-to-value ratio rising from 28.8% to 33.2% (target: less than 35%).
Vacancy rates remained broadly stable at 5.6%, with increased leasing activity offsetting higher vacancy rates in the Blackstone portfolio.
A dividend of 2.255p per share was announced, taking the full-year total to 8.0p, up 4.4%.
The shares were broadly flat in early trading.
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Tritax Big Box REIT key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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