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Received in my AJ Bell Account on 1/6/23
Check your broker account, and (this may be blindingly obvious, but to be sure), check you owned the shares before the ex-div date (11/5/23). If no cash and you did own them, chase your broker.
Hello,
No news about the actual payment date of the dividend,.. including nothing on website...
anyone heard anything ?
Any idea why there was no Q1 trading update on the day of the AGM, like last year?
Do we now if there will be, and if so when, theQ1 update will be?
Amazon is subletting its warehouses or some of them at least. Also follows a large rise as in a checkback. Personally still think development land held is worth more than now priced in (but less than at 230p a share like it was)
Could it be this news?
https://www.telegraph.co.uk/business/2023/02/05/amazon-sublet-uk-warehouses-growth-plans-go-awry/
The share price has been recovering well since the disastrous Truss budget but why the fall of 3.51% yesterday? I haven't seen any news that would explain it.
What I see in the press is Amazon workers going on strike after 'an insulting' pay offer !!
If what I see in the press in anything to go by people are turning to Amazon for Christmas stuff and more as they can't get it through the Royal Mail.
The biggie was Amazon announcing they had too much warehouse space, which went down like a lead balloon. Plonkers.
Thanks for that.
It was . But during Covid on line was just about the only choice and on line companies got over excited including Amazon which took on more warehouse space than it needed. When they announced they were cutting back it spooked the market. And with looming recession and Putins war investors took fright. It has never recovered since thought things are beginning to look up as its realised that online is here to stay and that just in time has put the wind up a lot of companies who now want to keep a store of stock. Lidl is one who have took on warehousing to store non perishables like tins of beans etc. There will be some cutting back but it will take out the weaker players leaving those with quality RE like BBOX and SHED in stronger positions. Thats mo opinion others may have differing ones
OK. Thanks. But looking at the price history this looks like its usual terrain excluding the covid bump which was due to a rise in online shopping and hence the need for warehouse space.
Recession, Andrew Bailey, Jermey Hunt, Vladimir Putin plus plenty other shadows - take your pick
Why the share price is trading at a discount to the Net Asset Value.
The updates all sound good and up beat. So what is the catch??
I was invested in this share but after an assessment I decided it really is economic dependent on the consumerist model.
U.K. economy heading for crisis, rising rates into a recession, brexit having knocked 20pc off UK’s european exports not replaced by anything, trashed sterling and double digit inflation. Tritax has debt and it’s contracts with customers don’t mean shxt if those clients go bust. This is going back to covid lows, then I’m a buyer. You need a 6 pc yield on these for the stock specific risk, you will be able to get 5 pc in the bank soon or on bonds.
This is becoming a worry. Price is freefall!
The problem is, that this is a stable income stream company and assets are valued based on their income stream. Yield is 6.85p per year, so in a world where govt bonds get you 1% return then a 6.85p per year can easily justify 3% yield given the safety of the assets/long term basis of the incomes and also this is worth having. This equates to a price in the region of £2-2.50.
Fast forward to now and gilts are yielding 4.5-5% so this is clearly more risky and less liquid than gilts, so should reflect this with a higher yield, so call it 5.5% to own BBOX so that 6.85p equates to a price of £1.25. Or rather why would you buy this at £2 per share yielding 3.4% when you could buy gilts yielding 4.5%. Price has to adjust down to reflect this and unfortunately this and other REITs will be hit as yields go up.
This does mean if gilt yields go down the price of BBOX should go back up.
Out of interest, when you did this what was the discount in comparison to the assets?
I always used to invest in BBox when it headed towards 100p & then sell out for a 35-45% profit, But after i sold out last time i was amazed to see it carry on climbing into the 200's. At that point i just hoped that folk weren't piling in & so it proved !
This has fallen back quite badly for a company with a solid income stream, so unless interest rates climb sharply to 6% or more - it could soon be a time to dip back in again.
30 year gilts yielding 4.77% and rising, Investment grade corporate bonds yielding 6.5% and rising.Warehouses, infrastructure,renewables, primary health all benefitted from a zero interest rate environment, for investors searching for yield. Now their discount rates will be hit, they can’t leverage as interest rates will be higher than their ROCE and they are no longer the only game in town. Perhaps you could argue that there is some inflation protection assuming the economy doesn’t crash. Perhaps interest rates go back to zero in the future and you’ll be ahead of the game with this one, although the 30 year gilt doesn’t support this.
Most property companies have had huge revaluations over the last 18 months which are clearly fantasy. Conflicts of interest abound.
Gordon Bennett. Thats me put in me place. I did say barring shocks. Im shocked. Has GB gone bust and shut up shop with no one going to buy anything ever again. Oh no. Glastonbury tickets sold out within hours of going on sale and foreign travel also booming - M/c airport desperately trying all sorts to recruit more staff. I thought Kwarteng is on the right track. Whoever is in charge of this mess has a job on. We know labours approach - hit the creators and give it away to the idlers. That idiot Sunak didnt need to give away the family silver but Kwarteng has to do something to ease the energy pressure. On top of that he is doing his best to get wealth creation moving. He needs our understanding and support imo - and patience. Give em two years and see how it goes. I like Truss. She has balls. She isnt a popularity seeking idiot like Fatso Johnson and she is a proper Conservative which we have been sorely missing since Thatcher. Just need to see what Tory policy Braverman has planned to sink the dinghies faster than the pound
If it wasn't for you it would have been a lot worse so I'm still grateful
Well, Longerguy, I suppose you may wish to withdraw, or at least modify, your expression of thanks to me for making you think twice about diving in at 157, given that 145 turned out to be a brief staging post to the mid-130s! I’m still trying to make sense of it all. I see that all REITS are more or less equally suffering, and the markets as a whole are having a bad day, so this is not specific to BBOX.