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UK REIT owning supermarket properties leased to major grocery chains like Tesco and Sainsbury's on long leases.
UK REIT owning supermarket properties leased to major grocery chains like Tesco and Sainsbury's on long leases.
Collects rent from supermarket operators under long leases, with rents typically rising in step with inflation, and grows by buying stores from the grocers and leasing them back. It is managed externally by Atrato Capital, and as a REIT passes most of its income to shareholders.
In one line: A UK grocery-anchored net-lease REIT, akin to Realty Income for supermarkets.
Moat: narrow (installed base, scale). Long, inflation-linked leases to essential grocery tenants provide highly secure income.
Headquarters: London, UK · Founded: 2017 · Employees: 19
Size Supermarket Income REIT (SUPR.L) is a United Kingdom Real Estate company (Real Estate Investment Trusts) with a market value of $1.54B, the 185th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £83.60 on 6 Nov 2026.
Performance Over six months the shares gained 3.7%, against -5.5% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue fell 7.4% over the last twelve months (peer median +4.2%); the operating margin is 81.1% (peer median 49.1%).
Valuation It trades at 13.3× forward earnings against a peer median of 16.1× (3rd cheapest of 16).
Credit Supermarket Income REIT has 1 bond outstanding ($334M), rated BBB+ by the agencies and trading like BBB- at a weighted spread of 134 bp.
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | £114M | £114M | £123M | £115M | £125M |
| Revenue growth | — | -7% | +8% | -8% | — |
| Gross profit | £103M | £103M | £107M | £97.8M | £108M |
| EBITDA | £92.8M | £92.8M | £80.2M | £60.8M | £113M |
| Net income | £85.9M | £85.9M | £61.5M | -£21.2M | -£145M |
| Free cash flow | £68.4M | £68.4M | £21.8M | £56.9M | £61.9M |
| Capital expenditure | £28,000 | £28,000 | £32,000 | £0 | £0 |
| Total debt | n/a | £711M | £604M | £694M | £667M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Supermarket Income REIT SUPR.L | $1.54B | +4% | -7% | 81% | 13.3× | n/a |
| Realty Income O | $56.1B | -4% | +11% | 46% | 36.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SUPR.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.5% | +1.1% | 6th highest of 21 |
| 6-month return | +3.7% | -5.5% | 4th highest of 20 |
| Distance from 52-week high | -6.5% | -17.4% | 2nd highest of 21 |
| Revenue growth (TTM) | -7.4% | +4.2% | 4th lowest of 19 |
| Operating margin | 81.1% | 49.1% | 2nd highest of 19 |
| Forward P/E | 13.3× | 16.1× | 3rd cheapest of 16 |
| Bond spread | 134 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 81% | 13.3× | n/a | n/a |
| Japan Logistics Fund 8967.T | Japan | $1.52B | -8% | +3% | 53% | 21.0× | n/a | n/a |
| Innovative Industrial Properties IIPR | United States | $1.51B | -4% | -4% | 47% | 13.4× | n/a | n/a |
| Killam Apartment REIT KMP-UN.TO | Canada | $1.51B | -3% | +5% | 63% | 11.0× | n/a | n/a |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 73% | 16.2× | n/a | n/a |
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | 35% | n/a | n/a | n/a |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 73% | 14.3× | n/a | n/a |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 64% | 18.0× | n/a | n/a |
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 29% | 14.4× | n/a | n/a |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 34.9× | n/a | n/a |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 28% | 14.6× | n/a | n/a |
| Empire State Realty OP LP Series ES ESBA | United States | $1.46B | -6% | +2% | 16% | n/a | n/a | n/a |
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 81% | 5.9× | n/a | n/a |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 51% | 20.9× | n/a | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 28% | 17.3× | n/a | n/a |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | 46% | n/a | n/a | n/a |
| Lendlease Global Commercial REIT JYEU.SI | Singapore | $1.44B | -3% | +4% | 67% | 16.1× | n/a | n/a |
| Safestore SAFE.L | United Kingdom | $1.67B | -13% | +7% | 55% | 14.1× | n/a | n/a |
| CNAMC China Resources Commercial Asset Closed Infrastructure Real Estate Investment Trust 180601.SZ | China | $1.41B | -6% | n/a | n/a | 24.8× | n/a | n/a |
| Diversified Healthcare Trust DHC | United States | $1.70B | -17% | -4% | -1% | n/a | n/a | n/a |
| Douglas Emmett DEI | United States | $1.70B | -18% | +2% | 19% | n/a | n/a | n/a |
Supermarket Income REIT has 1 bond outstanding with $334M face value. The agencies rate it BBB+; its bonds trade like BBB-. Weighted yield 6.10%, a spread of 134 bp over government bonds.