Segro plc (REIT) AI Stock Analysis
Segro plc (REIT) (SGRO) AI Stock Analysis
Segro plc (REIT)
(Paris:SGRO)
No summary available
Segro plc (REIT) (SGRO) vs. iShares MSCI France ETF (EWQ)
- Market Cap
- EUR 12.46B
- Dividend Yield
- 3.28%
- Average Volume (3M)
- ―
- Price to Earnings (P/E)
- 42.7
- Beta (1Y)
- 0.11
- Revenue Growth
- 3.07%
- EPS Growth
- -53.72%
- Country
- France
- Employees
- 463
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- REIT - Industrial
Segro plc (REIT) Business Overview & Revenue Model
Company Description
Operating as a prominent UK Real Estate Investment Trust (REIT), SEGRO excels in the acquisition, stewardship, and construction of contemporary warehouse and light industrial facilities. The company oversees an expansive portfolio, valued at a substa...
Segro plc (REIT) Earnings Call Summary
The call presented a broadly positive operational and financial story: record leasing (GBP 99m), strong like‑for‑like rental growth (6%), improved EPS and dividends (~6%), better valuations, high occupancy and a robust data center land/power platform that materially expands growth optionality. Challenges flagged were primarily execution and timing (H1 pre‑let weakness), subdued investment markets affecting disposals, regionally uneven rental/value trends (notably in parts of Eastern Europe and some London submarkets), and the higher complexity/capital intensity of fully fitted data centers which will require JV/project financing and active capital recycling. Overall, the positives around leasing momentum, disciplined balance sheet, development yield targets and the strategic data center pipeline outweigh the near‑term challenges and execution risks.
Q4-2025 Updates
Positive Updates
Negative Updates
Company Guidance
Guidance from the call emphasised a material development-led growth phase: 2026 development CapEx is guided at EUR 450–550m (including ~EUR 150m of infrastructure for logistics parks and data‑centre power upgrades), with disposals expected at or above the upper end of the long‑term 1–2% p.a. run‑rate to recycle capital. Development economics remain attractive (target development yields c.7–8% on total cost, >10% on new CapEx; 2025 average development yield was 8.2%), and SEGRO reiterated medium‑term ERV/rental growth assumptions of 2–4% for Big Box logistics and 3–6% for Urban assets. Near‑term rental upside includes GBP 152m of growth opportunity in the existing portfolio (GBP 99m reversionary potential, ~GBP 53m vacant space), an on‑site development programme representing GBP 53m of potential headline rent (47% already leased) plus a further GBP 9m of advanced pre‑lets, and a wider pipeline/landbank opportunity (GBP 62m near term + GBP 346m wider landbank), which together sit atop a current headline rent base of c. GBP 755m and a stated potential to generate c. GBP 800m of additional rent. Data‑centre ambitions were quantified (powered land >2.5GW: 0.5GW operational, a route to 1.1GW pre‑leasable in ~3 years and a further 900MW defined; Slough has an extra 0.4GW in 2029), with an expectation to bring forward 1–2 data centres p.a., increasingly via fully‑fitted JV structures (SEGRO cash equity typically c. GBP 75–100m per project, funded with project debt) and potential fully‑fitted profits up to ~3x powered‑shell outcomes; fully‑fitted schemes also have a longer income lead time (~+18–24 months vs powered shells). Balance sheet/headline financial guidance remains conservative: LTV c.31%, net debt/EBITDA 8.4x (from 8.6x), average debt maturity ~6 years, ~EUR 1.9bn undrawn facilities, and continued focus on disciplined capital allocation.
Segro plc (REIT) Peers Comparison
Overall Rating
GB:BBOX78Outperform
GB:LMP78Outperform
GB:SHC75Outperform
GB:BLND73.5Outperform
GB:LAND68Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GB:BBOX | 78Outperform | GBP 4.33B | 14.13 | 5.39% | 5.58% | -13.80% | -38.91% |
| GB:LMP | 78Outperform | GBP 4.58B | 14.50 | 6.29% | 6.64% | 17.12% | -23.84% |
| GB:SHC | 75Outperform | GBP 2.90B | 7.09 | 9.48% | 2.89% | 9.10% | 20.49% |
| GB:BLND | 74Outperform | GBP 4.40B | 9.42 | 7.73% | 5.33% | 15.13% | 29.40% |
| GB:LAND | 68Neutral | GBP 5.62B | 15.13 | 5.29% | 5.92% | 7.21% | -13.23% |
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FR:SGRO | Segro Plc (Reit) | 10.10 | 0.47 | 4.84% | |
| GB:BLND | British Land Company plc | 433.40 | 68.72 | 18.84% | |
| GB:SHC | Shaftesbury Capital Plc | 148.90 | 11.37 | 8.27% | |
| GB:LAND | Land Securities Group Plc R.E.I.T | 696.00 | 122.16 | 21.29% | |
| GB:LMP | LondonMetric Property | 189.00 | 9.65 | 5.38% | |
| GB:BBOX | Tritax Big Box REIT | 148.00 | 7.27 | 5.17% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.