Omnichannel supermarkets, with in-store and online operations, should increasingly be valued against distribution warehouses, says Liberum
The asset base of Supermarket Income REIT PLC (LON:SUPR), a real estate investment trust focused on supermarket property, is undervalued, said Liberum Capital.
It initiated its coverage of the company with a 134p target price and a ‘buy’ recommendation.
“We think the shares will be driven by the continued positive underlying revaluation of the supermarket asset base,” said Liberum analysts.
Supermarket Income REIT’s rental income is derived from five of the UK’s eight largest grocers who together account for a 65% share of the UK grocery market.