Supermarket Income REIT
Company Notes
FY 22 Annual Results: Shop ‘til you drop
On 21 September, Supermarket Income REIT published its annual results for the year to 30 June 2022. Highlights include:
- EPRA NTA per share +6.5% to 115p. Pro forma EPRA NTA per share of 111p.
- LFL rental growth +3.7%. 81% of leases are inflation-linked.
- EPRA EPS +5% to 5.9p. Total dividends +1% to 5.94p per share. Dividend cover of 1.08x.
- FY23 dividend target +1% to 6p per share, below +1.8% annualised contractual rental growth.
- 100% of drawn debt is now hedged at an effective fixed rate of 2.6%. Pro forma net LTV is 31%.
- The fund now has exposure to 75 UK supermarkets with a total portfolio value of £2bn.
- Listing migrated to the Premium Segment of the LSE and fund entered into the FTSE 250 and FTSE EPRA NAREIT indices.
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