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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sainsbury (j) Plc | LSE:SBRY | London | Ordinary Share | GB00B019KW72 | ORD 28 4/7P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.00 | -0.37% | 268.00 | 266.60 | 266.80 | 269.60 | 265.80 | 267.40 | 6,211,246 | 16:35:20 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Grocery Stores | 31.49B | 207M | 0.0878 | 30.39 | 6.29B |
From Apr 2019 to Apr 2024
By Olga Cotaga
LONDON--Supermarket Income REIT PLC said Tuesday it is planning to raise 200 million pounds ($255.2 million) after floating on London Stock Exchange and that it is targeting a dividend of 5.5% at first.
Supermarket Income REIT added the dividend will grow progressively and that it will pay the first one in October.
The company, which will be a real estate investment trust, will use the money from the initial public offering to buy a diversified portfolio of supermarkets, it said.
It explained that supermarket property yields have risen over the last few years, which means prices have decreased, and that "this presents a significant investment opportunity for investors."
The REIT has already got exclusivity to buy two properties and is in advanced talks to buy three more, it said, adding that the combined value of all assets is of GBP263 million.
The company is looking at supermarkets with long leases of 15 years and at big supermarket customers like Tesco (TSCO.LN), Sainsbury's (SBRY.LN), Asda and Morrisons (MRW.LN), it said.
-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga
(END) Dow Jones Newswires
June 20, 2017 04:16 ET (08:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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