Supermarket Income REIT Plc ( (GB:SUPR) ) has issued an update.
Supermarket Income REIT plc has successfully completed a £90 million refinancing through a new unsecured debt facility with Barclays, replacing existing secured debt facilities with Wells Fargo and Bayerische Landesbank. This strategic move, which includes capping the interest rate at 5.0% for three years using existing interest rate hedges, is expected to enhance the company’s financial flexibility and maintain its competitive edge in the market. The refinancing, alongside a recent joint venture, positions the company with an expected pro-forma loan-to-value ratio of approximately 31%, reflecting its robust financial health and strong lender relationships.
Spark’s Take on GB:SUPR Stock
According to Spark, TipRanks’ AI Analyst, GB:SUPR is a Outperform.
Supermarket Income REIT Plc’s strong technical indicators and strategic corporate developments drive its positive outlook. The company benefits from an attractive valuation due to a high dividend yield and reasonable P/E ratio. Despite challenges in profitability, its solid balance sheet and strategic initiatives position it well for future growth.
To see Spark’s full report on GB:SUPR stock, click here.
More about Supermarket Income REIT Plc
Supermarket Income REIT plc is a real estate investment trust focused on investing in grocery properties that are integral to the nation’s food supply infrastructure. The company targets omnichannel grocery stores that support both online and in-person sales, with assets leased to leading supermarket operators across the UK and Europe. Its portfolio is diversified by tenant and geography, providing long-dated, secure, inflation-linked, and growing income. The company aims for a progressive dividend and potential capital appreciation over the long term. It is listed on the LSE’s Main Market and has a secondary listing on the JSE Limited in South Africa.
YTD Price Performance: 17.72%
Average Trading Volume: 4,738,720
Technical Sentiment Signal: Sell
Current Market Cap: £957.1M
Learn more about SUPR stock on TipRanks’ Stock Analysis page.