Supermarket Income Reit (SUPR)

Index:

FTSE 250

96.00p
   
  • Change Today:
    -0.60p
  • 52 Week High: 133.00
  • 52 Week Low: 96.00
  • Currency: UK Pounds
  • Shares Issued: 1,242.63m
  • Volume: 12,892
  • Market Cap: £1,192.93m

Supermarket Income reports solid growth on expanded portfolio

By Josh White

Date: Wednesday 21 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Supermarket Income REIT reported a 7% total shareholder return for the year on Wednesday, after a year of portfolio growth.
The FTSE 250 real estate investment trust said it had achieved a 48% total shareholder return since its initial public offering in 2017, making for a 9.7% annualised return.

Its EPRA net tangible assets per share increased by 7p in the 12 months ended 30 June to 115p, or a 6% increase.

The company said its direct portfolio was independently valued at £1.57bn, increasing by £423.2m in the year, with a net initial yield of 4.6%.

Its portfolio had a weighted average unexpired lease term of 15 years, as annualised passing rent increased by 34% to £77.6m, while 81% of leases were inflation-linked and the firm recorded rental growth of 3.7% on a like-for-like basis.

Supermarket Income said its net loan-to-value ratio stood at 19% as at 30 June, with 100% of total rent being collected during the year.

The board reported further portfolio growth in the year, through the deployment of £506.7m of equity raised through two upsized and oversubscribed issues of new shares.

That led to admission to the Official List of the FCA and to the premium segment of the London Stock Exchange's main market, and inclusion in the FTSE 250 and FTSE EPRA/NAREIT Global Real Estate Index Series.

The firm acquired 12 supermarkets for a total price of £381m, excluding acquisition costs, at a blended net initial yield of 4.5% and blended weighted average unexpired lease term of 19 years.

It said the value of its investment in the Sainsbury's reversion portfolio increased by £46.8m to £177.1m, primarily due the exercise of purchase options by Sainsbury's.

Supermarket Income declared a total ficident of 5.94p for the year, up 1% from the 5.86p distribution it made for the 2021 financial year.

"I am pleased to be reporting another set of strong full year results for the company," said chairman Nick Hewson.

"This has been another significant year of growth and one in which we achieved the important milestones of being added to the Premium Segment of the London Stock Exchange and the FTSE 250 index.

"During the year, our direct portfolio has benefitted from a 3.7% like-for-like increase in valuation delivering a 6% increase in EPRA net tangible assets to 115p per share as at 30 June."

Hewson noted that since IPO, the firm had delivered a 48% total shareholder return.

"At a time of considerable unpredictability and uncertainty especially for our economy, we believe our portfolio of targeted, sector specific real estate assets will continue to deliver stable, long-term, and growing income to our shareholders."

At 1040 BST, shares in Supermarket Income REIT were up 1.77% at 116.02p.

Reporting by Josh White at Sharecast.com.

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SUPR Market Data

Currency UK Pounds
Share Price 96.00p
Change Today -0.60p
% Change -0.62 %
52 Week High 133.00
52 Week Low 96.00
Volume 12,892
Shares Issued 1,242.63m
Market Cap £1,192.93m

SUPR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
50.68% below the market average50.68% below the market average50.68% below the market average50.68% below the market average50.68% below the market average
69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average
Price Trend
44.36% below the market average44.36% below the market average44.36% below the market average44.36% below the market average44.36% below the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income
80.83% above the market average80.83% above the market average80.83% above the market average80.83% above the market average80.83% above the market average
80.65% above the sector average80.65% above the sector average80.65% above the sector average80.65% above the sector average80.65% above the sector average
Growth
55.19% above the market average55.19% above the market average55.19% above the market average55.19% above the market average55.19% above the market average
51.52% above the sector average51.52% above the sector average51.52% above the sector average51.52% above the sector average51.52% above the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 6
Sell 1
Strong Sell 0
Total 10
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SUPR Dividends

  Latest Previous
  Q2 Q1
Ex-Div 19-Jan-23 06-Oct-22
Paid 23-Feb-23 16-Nov-22
Amount 1.50p 1.50p

Trades for 02-Feb-2023

Time Volume / Share Price
08:00 12,133 @ 96.20p
08:00 10 @ 96.80p
08:00 516 @ 96.80p
08:00 1 @ 96.80p
08:00 1 @ 96.80p

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