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To provide its shareholders with an attractive level of income together with the potential for capital growth by investing in a diversified portfolio of supermarket real estate assets in the UK.
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As can be seen on the ADVFN board this is most like to Jefferies downgrade.
Thanks to chucko1
Jefferies has moved (actually - REVERTED BACK) from an NAV model to a DCF model. This has caused a drop from 90p to 60p. They stated that the V (in NAV) was relevant in 2022/23 owing to the plunge in (V)aluations etc.
God only knows what discount rate they elected to use, but a change can cause any valuation change you care to mention. A TP of 60p, as previously mentioned, results in a yield of 10%+ - but TSCO33 bonds yield 5.2%. Figure that one out. Also, 850bps over linkers???
All the is relevant is the usefulness of the yield - even the current 8% is stated (by Atrato) to result in a 12% IRR (long run). So, if like me, you own this for the long run, one could only logically buy more this morning.
So it's not ASDA, it's not the movement in rates (per se), it's not leverage, it's not a profits warning, it's not something corporate - it's a change in methodology. I wonder how much that change will effect the future cashflows??!!
One short position added to March 19th small. So nothing lately. My guess is exdivided yesterday and continued selling today, it happens sometimes. Bought a few more.
-6%. No obvious external reason. Perhaps a sale trade being worked through?
Good news from Sainsbury today on profits ... without re-reading, I seem to remember that rents had a floor but also an index to profit... so good news and a nice bit of blue today
The Third Quarterly Dividend will be paid on or around 16 May 2024 to shareholders on the register as of 12 April 2024. The ex-dividend date will be 11 April 2024.
In line with what was discussed at the IM a week or two back .... looks like a solid positioning to finance any new sites that come onto market. As the economy stutters there may well be more distressed disposals .... all good
SUPR featured in this week's "Great Ideas" feature, it's behind a paywall so can't post a link. Includes the following commentary: "We have no doubt the company will be able to continue generating income and earnings growth given the overall grocery market is expanding at a healthy clip again and importantly both Tesco and Sainsbury’s are taking market share."
@Krustysmegma
Impressed .... solid and clear presentation, liked the reassurance that essentially 80%+ of the revenue is baked in and index linked and the remaining 20% a little less so, but solid margins and risk strategies. Liked the link to revenue and not fixed fee. Interesting take on the growth of 'lower cost' competitors around saturation and ease of expansion. Liked the two director buys, good debt position and good drawdown potential for opportunities with a baked in cost rate that is modest and manageable (any investment likely to be accretive from day 1).
I scanned last years report but will read in detail. So far, don't see a downside. A bit unloved but a solid and growing yield so will have on my buy radar as I free things up to re-invest. Just a bit surprised given all this that the rating is only BBB+, but that is still perfectly acceptable to me.
What did you think faramog? I've been invested here for a while now & pretty positive about my investment going forward. I think the dividend is as secure here as anywhere, interesting comparison with the Tesco bond on the final slide.
Been on my radar a while and going to listen in to the IM in 15 mins ... the report last Nov is really pretty comprehensive and makes for a solid read. Not sure I see much more than a slightly undervalued high dividend payer right now. Just the very high exposure to two big supermarkets and current 'cost of living' headwinds to be rather more clear on.
https://rtfilesprod.blob.core.windows.net/originalnotes/supermarket-income-reit_32856_20231106.pdf?sv=2019-07-07&sr=b&sig=0Yote%2FZFuLWJOA%2BM%2BrxzHyuOWJL6JVxh7kfN9PpD87k%3D&se=2024-03-15T10%3A48%3A20Z&sp=r
Supermarket Income REIT plc will announce its half year results for the six months ended 31 December 2023 on Wednesday, 13 March 2024…..
I’m expecting these results to be very good; will hopefully put a few percent on the share price.
Long term should be around 100p. Interest rate cut when it comes will fuel the share price. Interest rates of 4% by 2026 gives me time to add here.
Doubtful given the nature of the business. They have the most recession resistant tenants who tend to remain in situ long term. Net gearing a very conservative 15%. Underpriced
Big December valuation haircut incoming?
See my advice below…BATS up over 7 percent today.
Balkwill66…..fwiw I think the Best Buy at the mo is BATS at under 24 quid a share. BATS divi is near 10 percent. BATS also trading at a 10 year low.
SUPR is a REIT and trading/custody costs are the same as any other share not funds, I have these in IWEB, HL, II and Fineco and there are no charges to hold the shares, usual buy and sell charges apply. There are management charges but these are not levied on shareholders directly but can be considered like the costs to run any company (see KIDD). The dividend declared is what you get except for a 20% tax deduction sent to HMRC if not in a ISA, Pension or help by a company.
That’s not strictly true sadly, SUPR is a fund and therefore has ongoing fund charges of 2.6% pa, whereas an individual share doesn’t have these charges, aside from the ongoing fund charges there are also charges from the platform eg ii, HL or Barclays. I also have a HL account and it gives a full breakdown of charges, it suggests as well as the 2.6%pa on going charge there are also massive transaction costs. The total costs as a % on a £5k investment in SUPR are 6.76% which sounds incorrect. Am I missing something? Does it look more attractive with a much larger investment?
If not I’m better off with Primary Health Properties which has much lower costs or individual shares like house builders with decent dividend returns and likely growth as interest rates come down…..
Look for a different broker. I'm with ii. Hargreaves seem to be a bit more expensive than ii, but probably cheaper than your deal. Presumably, any investment will have the same charges, shouldn't make any difference if you buy SUPR or GSK or BP.
Hi all, I’m a novice investor with a modest stocks&shares ISA with Barclays smart investor. I have looked at buying in to SUPR but the total charges seem crazy via Barclays, making the yield about half of the headline figure. Any advice? Much appreciated!
The Second Quarterly Dividend will be paid on 14 February 2024 to shareholders on the register as of 12 January 2024. The ex-dividend date will be 11 January 2024.
Could be - but I'm hoping there's more to come. And a very nice dividend whilst I wait.
Made a very quick profit, which seemed the right thing to do.
Good morning.
Sold for a profit a few weeks ago.
Bought some again on the dip.
Will probably hold for the upcoming dividend.
GLA holders