Supermarket Income REIT (SUPR) has acquired four supermarkets for £76.0m, taking the total capital deployed since its highly successful £300.0m equity raise in late April to £159.0m. Index-linked rents and accretive acquisitions are the drivers of income growth and progressive DPS, and we expect further near-term acquisitions despite increasing debt funding costs. Meanwhile, structural trends in the market and the non-discretionary nature of many grocery products support strong tenant covenants. There are no changes to our forecasts ahead of FY22 results, which we expect in late September.

22 Aug 2022
Supermarket Income REIT - Progressing with accretive deployment

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Supermarket Income REIT - Progressing with accretive deployment
Supermarket Income REIT Plc (SUPR:LON) | 80.9 -0.3 (-0.5%) | Mkt Cap: 1,008m
- Published:
22 Aug 2022 -
Author:
Martyn King -
Pages:
2 -
Supermarket Income REIT (SUPR) has acquired four supermarkets for £76.0m, taking the total capital deployed since its highly successful £300.0m equity raise in late April to £159.0m. Index-linked rents and accretive acquisitions are the drivers of income growth and progressive DPS, and we expect further near-term acquisitions despite increasing debt funding costs. Meanwhile, structural trends in the market and the non-discretionary nature of many grocery products support strong tenant covenants. There are no changes to our forecasts ahead of FY22 results, which we expect in late September.