Supermarket Income Reit Share Discussion Threads

[ynot68] 31/10/2024 12:05

Do we think divi is safe here? Tempted to add at these levels

[kenmitch] 22/10/2024 12:56

We used to holiday in France every year until covid, and really liked Carrefour. As in the UK it’s a mix of standard size supermarkets and out of town hypermarkets as well as a lot of Carrefour local shops in smaller towns.

Their stores look good and the product range was excellent and probably still is.

This link shows a lot of photos of Carrefour stores of all sizes.



If it doesn’t work on ii then Google “Carrefour photos” and a lot of examples should appear.The site from the above ,link is for Alamy.com

I hold SUPR. I’ve only held since it went to a discount as for so long it was way overvalued when on a big premium. It’s dull for now but I like the big dividend income.

[jg231] 22/10/2024 09:26

Dartboard1 I agree that there's a conflict between shareholders and advisers if advisers are just trying to max out NAV to earn fees. However, the SUPR France deal was 100% financed through debt, so there's no NAV increase (at least in the short term). As I understand it, the adviser is prioritising earnings growth (spread of asset yield to Euro debt).

Also, it's interesting to see the explanation in the results announcement of how similar these Carrefour stores are the the UK model. They're not shopping centres, they're mini versions of the UK single let supermarket, mostly doing online and with a petrol station.

[williamcooper104] 18/10/2024 11:37

Over last couple of years there's been a real drought in the core/core plus investment market Eg why the largest buyer in this space over here has been US reits

[8gggggggg] 18/10/2024 10:31

If it's such a cracking buy, why are they selling to MUG. Brits...It's an unnecessary distraction...Otherwise they have an enviable portfolio. ..Dakas.

[chucko1] 17/10/2024 08:19

In terms of increases AUM, the interests of the IM and shareholders are reasonably aligned in that average costs decrease as quantity of assets rises. The problem is when the NAV rises and costs increase owing to performance/AUM fees, but the NAV rise is fake - i.e. as in unimpaired dodgy assets. I cannot see any evidence of that with SUPR as it currently stands.

[dartboard1] 17/10/2024 07:44

Yep. Problem with reits is the advisors always looking to grow its fee base. Not happy to sweat good assets in the U.K. they see entering France as a way to get NAV up even if it's small regional shopping centres that's not their UK strategy. Still happy with the overall base of assets out for lease, but there's always the conflicting interests there. The board should be the block to any bad decisions, but are also interested in growing AUM to move up the FTSE ladder and a higher fee base.

[chucko1] 17/10/2024 07:41

I can see the point (or at least "a" point) - the yield spread over funding rates was higher than that available for UK stores. And availability, which has not always been easy in the UK. For all we know, they may look to increase French exposure and mitigate what you reasonably suggest could be increased average costs.

[8gggggggg] 17/10/2024 07:20

I agree ,as I have said before, I can't see the point,just adds a lot of admin, and there are many pitfalls.Dakas

[mindthestash] 16/10/2024 15:50

This is still a good price for entry for me. sold my API and BBOX (formerly commercial)to get into this - a buy and hold. not keen on french connection due to my ignorance of that market but hopefully a remains a small piece of the portfolio

[spectoacc] 16/10/2024 15:35

I'd say one swallow doesn't make a summer, & BoE sets for a year to eighteen months hence. And that Ms Reeves will definitely do something daft (fold to another set of strikes?).

More finely balanced after this morning's figures tho.

[nickrl] 16/10/2024 15:32

@flyer61 after todays RPI print i would say another 0.25% is baked unless our dear ChX does something stupid in a couple of weeks

[flyer61] 16/10/2024 04:14

Haha 1knocker doubt you were alone.

For the avoidance of doubt the ‘interest rate’ people keep going on about is not being cut it is going UP not down.

Give me strength…

[1knocker] 16/10/2024 00:40

I thought it was cheap when it was comfortably over 100p!

[belluci] 15/10/2024 22:37

Back below 72p this seems too cheap to me but am I missing something. I expected the reits in general to climb higher when the rates were cut. Has the Blackstone issue of not allowing investors to sell 2 years back affected the sector?

[chucko1] 10/10/2024 17:50

"as interest rates fall". The risk is that they - and I mean the relevant 10yr rates - do not fall. As stated above, they have risen 50bps from the recent lows. In that time, SUPR has not fallen by too much, but then it had not risen as one would have expected from the previously fallen 10yr Gilt rate. It is almost as though the SUPR traders are smarter than the Gilt traders!

Actually, they are not. But they are better than the traders of many other REITs who are largely out with the fairies.

[marktime1231] 10/10/2024 12:55

No crumppot I don't understand the nervousness, expecting good progress as interest rates fall. Added again today at just under 72.4p which means a forward yield of 8.4%.

[richtea2517] 10/10/2024 12:53

Ex div is it

[crumppot] 10/10/2024 12:47

I have only recently acquired a few shares in SUPR. I would have thought it was a fairly safe investment. The yield is good indicating that a lot of people are nervous but i don't understand why. Any thoughts?

[chucko1] 10/10/2024 09:45

10yr Gilts are 50bps higher the past few weeks. However, other bonds (UST and Bunds) also up around 35bps, so there has not been a large "Truss" effect so far.

So far ...

[panshanger1] 10/10/2024 09:14

To be honest a lot of the infrastructure / renewables / reits behaving in a similar way One or two special situations holding up better but that's about it You can't plan to borrow another 50B and expect the gilt market to just swallow it It's just more debt after all

[frazboy] 10/10/2024 09:09

The price appears to be reacting to ever rising gilt yields; they're starting to look a bit Truss like.I appreciate that other more general REITs, for example, SREI, are showing strength but the price of those seems to have gone too far.

[nickrl] 10/10/2024 08:56

unloved so time for a topup

[cwa1] 10/10/2024 07:01

XD today. 1.53p Pay day 15/11