Tritax Big Box REIT (LON:BBOX) Releases Earnings Results

Tritax Big Box REIT (LON:BBOX) announced its quarterly earnings data on Friday. The company reported GBX 8.38 earnings per share for the quarter, Digital Look Earnings reports. Tritax Big Box REIT had a return on equity of 4.04% and a net margin of 60.46%.

Here are the key takeaways from Tritax Big Box REIT’s conference call:

• The company reported strong 2025 results with portfolio value up >20% to £7.9bn, adjusted EPS +4.1%, dividend +4.4% and entry into the FTSE 100, signaling momentum and market recognition.
• Management reiterated a clear three‑pillar growth strategy—capturing record rental reversion, logistics development (target 6%–8% yield on cost) and its new Power‑First data center strategy (target 9%–11% yield)—and is targeting 50% adjusted earnings growth by 2030.
• The £1bn Blackstone logistics portfolio is integrated and immediately accretive (≈6% running yield in 2026) and comes with a £20m three‑year reversionary bridge (no clawback), which will provide near‑term recognized earnings.
• Balance sheet and funding are strong—year‑end LTV ~33% (pro forma 32.7%), Moody’s upgrade to AAA stable, an upsized RCF and a new £300m seven‑year bond—supporting planned £200m–£450m+ development capex and elevated disposals (£400m–£500m guidance for 2026).
• Near‑term headwinds remain—macroeconomic uncertainty slowed occupier decisions (some lettings slipped into 2026), vacancy is ~5.6%, and capitalized interest has risen due to earlier and more intensive data center investment, which could pressure near‑term cash flows.

Tritax Big Box REIT Stock Performance

Shares of BBOX stock traded up GBX 1.50 during trading on Friday, reaching GBX 171.80. 78,719,383 shares of the company’s stock were exchanged, compared to its average volume of 37,815,410. Tritax Big Box REIT has a twelve month low of GBX 121.90 and a twelve month high of GBX 174. The firm’s fifty day moving average price is GBX 161.58 and its 200-day moving average price is GBX 150.64. The company has a quick ratio of 0.42, a current ratio of 0.54 and a debt-to-equity ratio of 43.99. The stock has a market capitalization of £4.64 billion, a PE ratio of 9.96, a PEG ratio of 2.05 and a beta of 0.89.

Analysts Set New Price Targets

A number of research analysts have weighed in on BBOX shares. Berenberg Bank restated a “buy” rating and issued a GBX 230 price target on shares of Tritax Big Box REIT in a research note on Monday, January 26th. Shore Capital Group reissued a “buy” rating on shares of Tritax Big Box REIT in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tritax Big Box REIT currently has a consensus rating of “Buy” and an average target price of GBX 218.50.

Tritax Big Box REIT Company Profile

Tritax Big Box REIT plc (ticker: BBOX) is the largest listed investor in high-quality logistics warehouse assets and controls the largest logistics-focused land platform in the UK. BBOX is committed to delivering attractive and sustainable returns for Shareholders by investing in and actively managing existing built investments and land suitable for logistics development. The Company focuses on well-located, modern logistics assets, typically let to institutional-grade tenants on long-term leases with upward-only rent reviews and geographic and tenant diversification throughout the UK.