Supermarket Income REIT, listed on the special funds segment of the LSE, invests in supermarket property, let to leading UK supermarket operators, on long, RPI-linked leases. The investment objective is to provide an attractive level of income, with the potential for capital growth.
More Supermarket Income REIT content >Investment summary
The decision by Sainsbury’s to exercise its purchase option over additional stores in the ‘indirect portfolio’ will trigger additional capital growth for Supermarket Income REIT (SUPR) within its JV, further underlining the attractiveness of this investment. Meanwhile, SUPR continues to make good progress with capital deployment, supported by a continuing strong acquisition pipeline and recently enhanced debt capital resources.
Y/E Jun |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 25.5 | 21.2 | 16.8 | 5.0 | 24.8 | 15.4 |
| 2021A | 46.2 | 38.7 | 36.8 | 5.6 | 22.1 | 18.9 |
| 2022E | 68.6 | 57.0 | 57.5 | 6.2 | 20.0 | 21.0 |
| 2023E | 79.8 | 67.3 | 64.8 | 6.6 | 18.8 | 18.6 |
Industry outlook
Supermarket property has a long record of positive total returns underpinned by stable income returns in part due to long-leases, a strong occupier covenant, and the non-cyclical nature of grocery retailing. Supermarkets have been net beneficiary of the pandemic which has boosted sales, particularly online and fulfilled by omnichannel stores.
Last updated on 12/01/2022Content on Supermarket Income REIT
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Real Estate
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Share price graph
Balance sheet |
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| Forecast net cash (£m) | 618.3 |
| Forecast gearing ratio (%) | N/A |
Price performance
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12m |
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Key management |
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| Ben Green | Investment Adviser |
| Steve Windsor | Investment Adviser |
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