3 of the FTSE 250's hottest bargains

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Tritax Big Box facility

With the exploding internet shopping phenomenon driving demand for vast distribution and warehouse spaces, I reckon the investment outlook for Tritax Big Box(LSE: BBOX) is extremely sunny.

The real estate investment trust (REIT) again referenced the "growing occupier demand and constrained occupational supply" that is helping to drive profits at the business last month. The 'omnichannel' approach -- straddling physical, online, mobile and telephone-based models -- of today's retailers driving the need for so-called big box assets.

And Tritax is investing heavily to ride this wave, the firm having shelled out £524m last year alone on 10 new investments.

Predicted earnings growth of 11% and 4% creates P/E ratios of 20.2 times and 19.3 times respectively. While not jaw-dropping at first glance, I reckon this is decent value given Tritax's dominant position in a rapidly-growing market.

Besides, jumbo dividend yields of 4.5% for this year and 4.6% for 2018 should satisfy any sceptical investors as to Tritax's qualities as a great value share.

A boozy bargain

A fresh set of bubbly financials from ale house Greene King (LSE: GNK) could not prevent a fall to four-year troughs this month. But I reckon this represents a great buying opportunity for eagle-eyed investors.

Greene King announced that like-for-like sales rose 1.1% during the 40 weeks to February 5, boosted by a 4.5% rise in underlying sales during the three weeks around the Yuletide period. Indeed, sales hit a record £7.4m on Christmas Day.

While fears of slowing consumer spending continue to whack investor appetite for the booze behemoth, I remain convinced Greene King's focus on the more affluent South East and London regions -- allied with its ongoing restructuring drive -- should keep sales flowing in.

The City certainly expect earnings to keep chugging higher at the Abbot Ale and Old Speckled Hen maker, and have chalked-in expansion of 2% in the period to April 2017, and 4% next year.  Such projections create ultra-cheap P/E ratings of 9.5 times and 9.3 times.

Greene King also offers handsome rewards for income chasers. An anticipated 5.1% dividend yield for fiscal 2017 marches to a stunning 5.4% in the following period.

Construction corker

I also believe Galliford Try (LSE: GFRD) is a compelling value share at the present time, even though rampant buying activity recently sent the construction giant to 13-month tops.

Investor faith was rewarded this week after Galliford Try announced that revenue rose 3% during July-December, to £1.3bn, a result that propelled pre-tax profit 19% higher to £63m. Moreover, the London business announced robust order books across its divisions, with orders at its Linden Homes and Partnerships arms running at record levels.

Galliford Try is subsequently expected to keep providing double-digit earnings growth by the City, with rises of 13% and 12% anticipated for the years to June 2017 and 2018 respectively.

These figures result in dirt-cheap P/E ratios of 10.1 times and nine times. And Galliford Try gives dividend hunters reason to scream too, the firm wielding market-mashing yields of 6.2% for this year and 6.7% for 2018.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.