Supermarket Income REIT (LON:SUPR) Posts Quarterly Earnings Results

Supermarket Income REIT (LON:SUPR) posted its earnings results on Wednesday. The company reported GBX 2.70 EPS for the quarter, Digital Look Earnings reports. Supermarket Income REIT had a return on equity of 5.54% and a net margin of 51.54%.

Here are the key takeaways from Supermarket Income REIT’s conference call:

• The board upgraded dividend guidance to a minimum 2% annual uplift from FY2027 onwards, signaling confidence in cash generation and redeployed capital.
• The portfolio has scaled to around GBP 2 billion (up 20% since June 2025) with a near-term pipeline of over GBP 500 million, and the group deployed GBP 398 million of acquisitions at a 6.5% net initial yield, funded in part by a £250m debut bond and a joint venture.
• Short‑term earnings were impacted—EPRA EPS fell to 2.7p (from 3p) and net rental income was down 2%—largely due to assets transferred into the JV and timing gaps, with most financial benefits expected from FY2027.
• Operational efficiency improved materially with an EPRA cost ratio of 9.2% (down 440bps) and ~32% reduction in overheads in H1, targeting sub‑9% for FY2027.
• Leverage and funding profile changed—group LTV is ~43%, pro forma net debt/EBITDA ~8.2x (expected to move to 7–8x), WACD ~4.8%, 92% of drawn debt fixed/hedged and Fitch BBB+ reaffirmed, presenting both capacity and refinancing considerations.

Supermarket Income REIT Price Performance

SUPR opened at GBX 83.24 on Thursday. The business has a fifty day moving average of GBX 84.71 and a 200 day moving average of GBX 81.29. The stock has a market cap of £1.04 billion, a P/E ratio of 16.99, a PEG ratio of 15.09 and a beta of 0.54. The company has a quick ratio of 1.95, a current ratio of 5.28 and a debt-to-equity ratio of 54.71. Supermarket Income REIT has a 52-week low of GBX 71.48 and a 52-week high of GBX 89.20.

Trending Headlines about Supermarket Income REIT

Here are the key news stories impacting Supermarket Income REIT this week:

• Positive Sentiment: Identified c.£500m of potential grocery assets that could expand the portfolio and future rent income, supporting growth prospects. Supermarket Income REIT identifies £500m of potential grocery assets (The Grocer)
• Positive Sentiment: Blue Owl joint‑venture closing in on a £1bn value target — progress on the JV supports valuation optionality and balance sheet efficiency. Blue Owl JV nearing £1bn target (Property Week)
• Positive Sentiment: Stifel Nicolaus reaffirmed a “buy” rating and a GBX 95 target, giving third‑party support to the stock’s upside case. Broker rating: Stifel reaffirms buy (Digital Look)
• Positive Sentiment: Retail coverage highlights a high yield (c.7.5%) and the REIT’s defensive grocery exposure — a draw for income investors. Article on yield and defensive case (Yahoo Finance)
• Neutral Sentiment: PDMR notification filed (insider disclosure) — investors should check the filing for buy/sell details; the alert itself is informational until trade direction is clear. PDMR notification (Moneyweb)
• Neutral Sentiment: Quarterly results and slide deck published (EPS GBX 2.70 for the quarter; net margin high but ROE modest) — useful for modelling cash flow and dividend cover. Quarterly results & slide deck (MarketBeat)
• Neutral Sentiment: Broad market/media mentions and a sector roundup video that include SUPR — raises visibility but no new financial detail. Sector roundup video (Yahoo)
• Negative Sentiment: Interim results show lower H1 EPS despite rent growth — headline profit weakness is a short‑term negative for sentiment and raises questions on costs, interest or other one‑offs. Lower H1 EPS despite rent growth (Sharecast)
• Negative Sentiment: Analyses calling the interim profit “poor” underline that earnings underperformance could cap near‑term upside until evidence of earnings recovery appears. Poor interim profit coverage (SharePrices)
• Negative Sentiment: Company’s unaudited interim results released — contains the detailed numbers backing the weaker headline EPS and should be reviewed for guidance, rent collection, and covenant metrics. Unaudited interim results (Moneyweb)

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a GBX 95 price objective on shares of Supermarket Income REIT in a research report on Wednesday. Peel Hunt restated an “add” rating and set a GBX 85 price objective on shares of Supermarket Income REIT in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Supermarket Income REIT currently has an average rating of “Moderate Buy” and a consensus target price of GBX 85.67.

About Supermarket Income REIT

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI), a FTSE 250 company, is the only LSE listed company dedicated to investing in grocery properties which are an essential part of national food infrastructure. The Company focuses on grocery stores which are predominantly omnichannel, fulfilling online and in-person sales and are let to leading supermarket operators in the UK and Europe.

The Company’s properties earn long-dated, secure, inflation-linked, growing income. SUPR targets a progressive dividend and the potential for long term capital growth.