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Schroder Real Estate Investment Trust (SREI) investor relations material
Schroder Real Estate Investment Trust H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered an 11.0% NAV total return for the year, with NAV per share up 4.8% and share price rising 25% year-over-year.
Achieved a 7.3% increase in dividend, maintaining 100% dividend cover and a 6.8% yield.
Portfolio focused on higher growth sectors, with 63% exposure to multi-let industrial and retail warehouse assets.
Strategic focus on sustainability, with a 5% improvement in landlord energy and GHG intensity and active asset management driving higher earnings growth.
Share price trades at a 14% discount to NAV, offering an attractive entry point.
Financial highlights
Rental income rose 6% to £27.2m; total rental and related income up 4% to £31.3m year-over-year.
EPRA earnings increased 4% to £17.0m, fully covering dividends paid.
Portfolio return of 9.1% versus benchmark index of 6.2% for the year; 460 basis points outperformance over three years.
Net initial yield at 5.6% (benchmark: 5.1%), reversionary yield at 8.4% (benchmark: 6.2%).
Ongoing charges at 1.25% per AIC methodology.
Outlook and guidance
Cautiously optimistic outlook for the next 18-24 months, supported by supply shortages, cost-push inflation, and recovering UK real estate values.
Forecasting UK all property total returns of 8-10% per annum over the next four years.
Expectation of continued NAV and earnings growth through active management, sustainability initiatives, and high portfolio reversion.
Anticipate further rental growth, especially in industrial and retail warehouse sectors.
Next Schroder Real Estate Investment Trust earnings date
Next Schroder Real Estate Investment Trust earnings date
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