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Supermarket Income REIT sees multiple opportunities – Supermarket Income REIT has published its first set of results, covering the 13 month period from incorporation to the end of June 2018. Highlights are:
Nick Hewson, chairman, commented: “We have rapidly built our portfolio of supermarket property assets, precisely in line with the business plan outlined at IPO and have successfully delivered our 5.5 pence per ordinary share dividend target. Our high-quality portfolio produces attractive inflation linked income for shareholders together with the potential for long term capital returns. Supermarket Income REIT is committed to providing investors with stable, long-term, inflation-protected income, supported by a compelling real estate and pricing opportunity.”
The statement goes on to say “We remain confident of delivering strong returns for our shareholders through a stable and growing income stream with the potential for capital appreciation. The board and the investment manager continue to see multiple opportunities in the market which meet the company’s investment objectives whilst potentially adding further geographical, covenant and income diversification to the portfolio. These opportunities are still at an early stage and remain subject to the investment adviser’s and company’s stringent due diligence procedures as well as agreement around key terms including pricing. If these opportunities reach a more advanced stage, the board will consider possible ways to fund these accretive purchases including raising new equity pursuant to its existing share issuance programme.”
SUPR : Supermarket Income REIT sees multiple opportunities
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