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Schroder Real Estate Investment Trust (SREI) investor relations material

Schroder Real Estate Investment Trust H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary27 Nov, 2025

Executive summary

  • Achieved a NAV total return of 3.5% for the six months to 30 September 2025, with dividends up 5% year-over-year and 96% covered by recurring earnings.

  • Dividend yield at 6.6%, supported by a progressive dividend policy, and NAV per share increased 0.5% to 61.9p.

  • Portfolio outperformed the MSCI Benchmark, with a 0.6% relative outperformance over six months and 3.8% p.a. over three and five years.

  • Strategic focus on industrial and retail warehouse sectors (64% of portfolio), driving future earnings and dividend growth.

  • Recognised for sustainability leadership, topping its GRESB peer group and winning MSCI 10-year risk-adjusted return awards for UK and European funds.

Financial highlights

  • Net asset value (NAV) at £302.9 million (61.9p per share), up from £301.4 million (61.6p) at 31 March 2025.

  • Rental income from the direct portfolio rose 6% year-over-year to £14.0m; total rental and related income up 4% to £16.1m.

  • EPRA earnings for the period were £8.4m, with dividends paid of £8.8m.

  • Portfolio capital value grew 0.7% (benchmark 0.5%), with disposals achieved 5% above opening book value.

  • Annualised dividend yield of 7.1% on the 30 September share price.

Outlook and guidance

  • Expectation of improved transaction momentum into 2026 as inflation moderates and interest rates fall.

  • Forecasting UK real estate total returns of 8–10% p.a. over the next four years.

  • Dividend expected to be fully covered for the full year, with accelerated earnings growth anticipated.

  • Ongoing disposals planned to reduce net loan to value (LTV) to within the 25%-35% strategic range.

  • Continued focus on sustainability and active asset management to drive long-term returns.

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Next Schroder Real Estate Investment Trust earnings date

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H2 202610 Jun, 2026
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Next Schroder Real Estate Investment Trust earnings date

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H2 202610 Jun, 2026

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Frequently asked questions

Schroder Real Estate Investment Trust Limited is a UK-based real estate investment trust (REIT) focused on delivering income and capital growth through investment in a diversified portfolio of UK commercial properties. The company’s portfolio includes office, retail, industrial, and mixed-use properties, emphasizing high-quality assets in prime locations. The company is headquartered in London, United Kingdom, and its shares are listed on the London Stock Exchange.

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