It certainly looks like it.
Shorting probably the lowest risk reit which is on a big discount and dividend is about as silly as it gets.
I suspect he is getting a reasonable interest rate from building society accounts and is unable to grasp the concept of risk/reward
On the contrary, I don’t really care what happens on this particular stock, I have no involvement with it, the vast majority of my positions are in various ETFs, not that it matters to you
Merely correcting the false statement around rent increases and inflation, where you’d quite clearly not read the results, it proves not to believe everything posted around here if it’s not sourced.
Either way I found it quite entertaining as it seems to have irritated you a bit throwing sly digs back 
@Beenthere @woodyblade Play nice please 
Don’t forget the community rules!
Interesting news today with this expansion into France. 17 new Carrefour supermarkets with an average weighted lease term of 12 years, a 6.3% purchase yield and annual uncapped inflation linked rental reviews at a cost of €75.3 million.
SUPR buying French supermarkets
(Sharecast News) - Supermarket Income REIT said on Monday that it has bought a portfolio of Carrefour supermarkets in France through a sale and leaseback transaction for €75.3m.
This reflects a net initial yield of 6.3%.
The company said the portfolio acquisition is in accordance with its investment policy and comprises 17 “strong performing omnichannel supermarkets”, which are geographically diversified, with a weighting towards northern France, and operated under the Carrefour Market brand.
The portfolio has been acquired with a weighted average lease term of 12 years with annual uncapped inflation-linked rent reviews.
To fund the acquisition, the company has drawn €81.7m from its existing HSBC revolving credit facility having also increased the total size of the facility by £25m.
Ben Green, director of Atrato Capital Limited, the investment adviser to Supermarket Income REIT, said: "We are delighted to have completed this strategic sale and lease back transaction with Carrefour, one of the largest grocers in the world. The transaction represents the company’s first investment in the €284bn French grocery real estate market.
“This accretive transaction is complementary to our existing portfolio, providing further tenant diversification and continues our strategy of investing in the future model of grocery.”
Considering the market today it appears to be underwhelmed by the purcase!
The only fault is of course the fx risk other than that looks good. Although i have no idea how well Carrefour is doing. I would check but i am to idol.
To finance this significant acquisition, Supermarket Income REIT has used €81.7 million from its existing revolving credit facility with HSBC.
The borrowing costs for this new Euro-denominated loan are set at 1.7% over EURIBOR.
EURIBOR Which is 3.835% today
So borrowing at 5.535% income 6.3% plus inflation…come on inflation!!!
If you do not own this reit now. Who even are you anyway.
Value for money. 
Troll!??
The big reduction in NAV (not recent) roughly 115p to 90p a product of the rise in the discount rate.
If it was trade at its NAV (90.2p) then that would give you a 6.7% dividend. Not unreasonable for a low risk investment?
So i would say the following are holding back the share price.
Sentiment to the sector. Difficult to pay full price when virtually every other reit is at a discount.
Debt is fixed but not particularly long term…
Half-Year Report 6 Months Ended 31 December 2022
· Transition to unsecured financing via new six-year £412 million facility[8]
· Drawn debt 100% fixed (or hedged to fixed) at 2.9% weighted average cost[9]
· Fitch Ratings Limited (“Fitch”) reaffirmed the Company’s Investment Grade credit rating of BBB+
A short seller
All PID. Curiously the RNS release says payment “on or around” the 16th August which I don’t think I’ve seen on a dividend announcement before
Old report on supermarkets post COVID
.RNS Reference refinancing of debt.
Interest reduced across all debt
Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property, announces the completion of a £170 million[1] refinancing through its first private placement debt issuance and a new unsecured bank facility.
€83 million private placement debt issue
The Company has signed and completed an agreement with a group of institutional investors for a private placement of €83 million of new senior unsecured notes (the “Notes”). The Notes have a maturity of seven years and a fixed rate coupon of 4.44%.
The Notes were priced on 11 July 2024 and the note purchase agreement was signed on 25 July 2024. Proceeds were received on 25 July and will be used to refinance euro drawings under an existing secured revolving credit facility with HSBC, which had been used to fund the recent acquisition of a portfolio of 17 stores from Carrefour.
£100 million debt refinancing
The Company has also refinanced its existing £97 million secured debt facility with Deka through a new £100 million unsecured debt facility with ING Bank N.V., London Branch (“ING”).
The new ING facility (the “Facility”) comprises a £75 million term loan and a £25 million revolving credit facility. The interest-only Facility has a maturity of three years and has two one-year extension options at the lender’s discretion. The Facility is priced at a margin of 1.55% over SONIA and benefits from forward starting hedges, which cap the interest rate at an all-in cost of 3.0% until January 2026.
Following the debt refinancing, the Company has a pro-forma LTV of 37%.
Full RNS
https://www.lse.co.uk/rns/SUPR/163170-million-debt-refinancing-update-smxri1iw5tntc5l.html
Decent fall on exdivided day and no recovery.
Worth looking at.
Am i right in thinking that there is some withheld tax on dividends for Reits, that you get back at a later date?
Yes 20% tax. Returned if you invest via a SIPP or ISA
No tax on dividends at source, but some/all distribution from REIT’s can be Property Income Distribution which is subject to tax (income I think). Some REITs (e.g. AEW UK) have paid a combination of both at times so some is taxed, some isn’t.
