Supermarket Income REIT posts lower H1 EPS despite rent growth

(Sharecast News) - Grocery real estate business Supermarket Income REIT said on Wednesday that it had delivered "a strong first half for shareholders", even as it reported a 10% drop in earnings per share, with both annualised passing rents and its potfolio valuation rising in the six months ended 31 December. Supermarket Income REIT said annualised passing rent rose 11% to £132m, while EPRA earnings per share slipped 10% to 2.7p and its dividend per share edged 1% higher to 3.09p.

The FTSE 250-listed firm also noted that its portfolio valuation had increased 27% to £2.06bn, with its loan‑to‑value ratio rising to 45%.

Supermarket Income REIT, which said proceeds from its joint venture exit had now been fully redeployed, updated its full-year guidance to a minimum sustainable dividend uplift of 2% per year from FY27 onwards, supported by what it called strong structural grocery dynamics and a significant pipeline of opportunities across grocery real estate.

Chief executive Rob Abraham said: "The growth opportunity within grocery real estate remains highly compelling with supermarket sales reaching record highs in December 2025. Against this backdrop, our deep sector expertise coupled with our strong sector relationships gives us a unique advantage as we look to double the size of the portfolio over time. We have a compelling near-term pipeline, with omnichannel supermarkets continuing to perform strongly, and the potential for diversification into new geographies and complementary adjacencies within grocery real estate opening up additional opportunities for SUPR."

As of 1000 GMT, Supermarket Income REIT shares were down 1.67% at 82.30p.

Reporting by Iain Gilbert at Sharecast.com