Edison Investment Research Limited
London, UK, 19 February 2021
Supermarket Income REIT (SUPR): Strong accretive growth continuing Strong portfolio growth continues, providing increased diversification and economies of scale. The proceeds of October's highly successful £200m equity offering were swiftly deployed by January and including subsequent investment are now effectively fully deployed, including leverage. With leading supermarket operators providing a strong tenant covenant and 100% of store rents received in advance as expected, there has been no pandemic interruption to inflation-linked dividend growth.
Based on SUPR's FY21 aggregate DPS target of 5.86p, the prospective dividend yield is an attractive 5.4% with visible potential for growth. Compared with a group of other long income-focused REITs, its yield is above average with a similar P/NAV. Click here to view the full report or here to sign up to receive research as it is published.
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1169522 19-Feb-2021