Trading update and inclusion in the FTSE EPRA/NAREIT Global Real Estate Index SeriesRead more
10 March 2020
The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics real estate assets, is pleased to announce a trading update and inclusion in the FTSE EPRA/NAREIT Global Real Estate Index Series.
Asset Management Initiatives
Robert Orr, Independent Chairman of Tritax EuroBox, commented:
“The Board is pleased that the Company will be added to the FTSE/EPRA NAREIT Index, which is widely followed by global real estate investors and should assist in continuing to broaden the Company’s investor base and to increase the liquidity of our shares.”
Nick Preston, Fund Manager of Tritax EuroBox, commented:
“We are pleased to be able to report that the portfolio we have assembled since IPO continues to provide us with opportunities to create additional shareholder value through active asset management. Working closely with our management teams and tenants, we have already delivered a number of these opportunities adding further income as well as value to the portfolio. We continue to identify further initiatives and look forward to providing further updates in due course.”
For further information please contact:
+44 (0) 20 7290 1616
Jefferies International Limited
+44 (0) 20 7029 8000
Kempen & Co N.V.
Thomas ten Hoedt
+31 (0) 20 348 8500
Maitland/AMO (Communications Adviser)
+44 (0) 20 7379 5151
Tritax EuroBox plc invests in and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.
Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.
The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.¹, which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.¹ over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.
Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk
1. Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company’s expected or actual future results.