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Summary
- The REIT player’s pretax profit jumped to £449.5 million for 2020 as compared to £141.2 million in 2019.
- The British REIT sector poses immense scope for specialisation and scale, offering attractive returns to investors in the long run.
Pre-tax profits for Tritax Big Box REIT plc (LON:BBOX) jumped to £449.5 million for 2020, growing by more than three times compared to a corresponding value of £141.2 million in 2019 due to strong demand for logistics space in the UK. The real estate investment trust (REIT) which invests in distribution centres released its annual results on Wednesday, 10 March for the year ending 31 December 2020. It reported an 8 per cent rise in its adjusted earnings per share (EPS) to 7.17 pence for the year (2019: 6.64p).
Property experts believe that the British REIT sector has immense scope for specialisation and scale going forward and offers attractive returns to investors in the long run. Apart from looking at the BBOX results, we will take a sneak peek into other promising REIT stocks in the market.
Also Read: 8 LSE Dividend Stocks Topping the Charts
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Tritax results
The FTSE 250-listed company reported a rise in its portfolio value to £4.41 billion for 2020 because of improved asset management and development gains (2019: £3.94 billion). The REIT’s operating profit rose by 20 per cent to £147.5 million for the last year, while its pretax profit jumped to £449.5 million (2019: £141.2 million).
It reported strong rent collections, with 99.4 per cent of the total rent collected during 2020. Moreover, all the arrears for the year were expected to be collected during 2021.
The firm released an annual dividend per share of 6.40p in 2020 (2019: 6.85p).
After the results were out, the company shares (LON:BBOX) were trading 2.68 per cent higher at the London Stock Exchange on Wednesday morning (10 March, 9.15 AM) 183.80p each.
Now, let us glance through few interesting stocks to watch out for in the UK real estate investment trust space.
Segro plc
In its full year results to 31 December 2020, the warehouse owner reported an adjusted pre-tax profit of £296.5 million, up 11 per cent compared to the previous year. Sergo’s dividend per share was up 5.6 per cent to 15.2p for 2020.
The company stock (LON:SGRO) was trading at 911.00p per share, up 1.31 per cent from its previous day’s close at 11.58 AM on 10 March. It delivered an earnings per share (EPS) of 0.79 per cent with a market capitalisation of £10.7 billion.
Land Securities Group plc
The largest property investment and management company in the UK, Land Securities boasted of £1.2 billion worth of cash and available facilities for 2020. It delivered a dividend of 23.2p for the year, down 49.1 per cent compared to 2019.
The company stock (LON:LAND) was trading at 694.50p per share, up 0.33 per cent from its previous day’s close at 11.45 AM on 10 March.
LondonMetric Property plc
The owner of leading listed logistics platforms in the UK, LondonMetric Property’s portfolio was valued at £2.4 billion, according to its half-yearly results for the period ending 30 September 2020. The FTSE 250 player boasted of 98.5 per cent occupancy along with a half-yearly property return of 4.9 per cent.
The company shares (LON:LMP) were priced at 213.20p, up 1.24 per cent from the previous day’s close at 12:09 PM on 10 March. The stock was delivering a one-year return of 2.7 per cent at the same time of the day.
