Sainsbury (J) (SBRY)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

270.40p
   
  • Change Today:
    -1.50p
  • 52 Week High: 310.40
  • 52 Week Low: 245.80
  • Currency: UK Pounds
  • Shares Issued: 2,368.99m
  • Volume: 3,801,283
  • Market Cap: £6,406m
  • RiskGrade: 132

Sainsbury's exercises second option to buy Supermarket Income JV properties

By Josh White

Date: Friday 07 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Grocery property investor Supermarket Income REIT updated the market on its 50-50 joint venture with British Airways Pension Trustees on Friday.
The London-listed real estate investment trust said the venture has a 51% beneficial interest in the Sainsbury's Reversion Portfolio, with the remaining 49% beneficial interest held by retailer J Sainsbury.

It said the portfolio consists of the freeholds to 26 Sainsbury's supermarkets.

The company said Sainsbury's had exercised its second purchase option of two to acquire eight stores within the portfolio.

Sainsbury's acquisition of the eight stores would be completed in July 2023, on expiry of the current occupational leases.

Supermarket Income said the purchase price under the option would be determined based on the assumption of a new 20-year lease to Sainsbury's, with the initial rent set at the higher of passing or open market levels, subject to upward-only, five-yearly market rent reviews.

The exercise of this option was in addition to the first option exercised by Sainsbury's on 10 September to acquire 13 stores within the portfolio, which would be completed in March 2023.

In total, Sainsbury's exercised its option to acquire 21 of the 26 stores in the portfolio.

"Sainsbury's buyback of these stores is further evidence of the strength of demand for grocery property in the UK," said Ben Green, director of Supermarket Income's investment adviser Atrato Capital.

"The exercise of these purchase options is expected to generate a positive net tangible asset impact for Supermarket Income REIT."

At 1321 GMT, shares in Supermarket Income REIT were up 0.63% at 123.28p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sainsbury Market Data

Currency UK Pounds
Share Price 270.40p
Change Today -1.50p
% Change -0.55 %
52 Week High 310.40
52 Week Low 245.80
Volume 3,801,283
Shares Issued 2,368.99m
Market Cap £6,406m
RiskGrade 132

Sainsbury Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
72.88% above the market average72.88% above the market average72.88% above the market average72.88% above the market average72.88% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
53.94% above the market average53.94% above the market average53.94% above the market average53.94% above the market average53.94% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Income
50.06% above the market average50.06% above the market average50.06% above the market average50.06% above the market average50.06% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
76.9% below the market average76.9% below the market average76.9% below the market average76.9% below the market average76.9% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average

What The Brokers Say

Strong Buy 1
Buy 4
Neutral 5
Sell 2
Strong Sell 0
Total 12
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sainsbury Dividends

  Latest Previous
  Interim Final
Ex-Div 09-Nov-23 08-Jun-23
Paid 15-Dec-23 14-Jul-23
Amount 3.90p 9.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 2,385,390 @ 270.40p
16:35 449 @ 270.40p
16:35 3,830 @ 270.40p
16:35 3,978 @ 270.40p
16:35 1,246 @ 270.40p

Sainsbury Key Personnel

Chair Martin Scicluna
CEO Simon Roberts
CFO Bl á thnaid Bergin

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