Edison Investment Research - Supermarket Income REIT Plc (A2DVHX) Supermarket Income REIT - Maintaining returns, with accretive opportunities

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Edison Investment Research

Martyn King

Supermarket Income REIT - Maintaining returns, with accretive opportunities

Supermarket Income REIT (SUPR) reported strong H123 results and expects to meet its full year dividend target on a fully covered basis. Earnings are fully protected from interest rate increases in the near term and we forecast rent growth to offset the eventual roll-off from hedging. The balance sheet is liquid and in this note we discuss the relative merits of debt repayment, reinvestment and share repurchases.

22/05/2023 1 EN

Underlying

Supermarket Income REIT Plc

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GB00BF345X11 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Martyn King

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Supermarket Income REIT - Maintaining returns, with accretive opportunities

UK REITs: Building back better

Supermarket Income Reit: 1 director

Supermarket Income REIT - Progressive dividend policy remains in place

Custodian Property Income REIT - Significant uplift in fully covered DPS

Canadian General Investments - Adding to positive long-term performance record

Recce Pharmaceuticals - Advances on several fronts

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