Supermarket Income REIT (JSE: SRI) share price, discussion & sentiment

Eish, retail property is rough right now. SRI sitting at R17.50 but the yields gotta justify holding through this load-shedding and weak consumer thing, ngl. Not seeing the dividends stack up like they used to.

retail property play in a country where load-shedding kills foot traffic and online shopping is eating lunch, R17.50 feels like catching a falling knife mate. the yield might look ok on paper but if tenants start sweating rent payments when consumers tighten up, distributions get axed fast and you're holding a bag of empty promises.

Rental growth stalling and load-shedding hitting foot traffic at the centres, that's the real issue here. Not a panic, but the yield isn't enough to ignore rising rates on debt. SRI needs to show they can actually grow distributions next year or this stays range-bound around R17.50.

Pulled the latest results last night, balance sheet holding up ngl

Pulled the latest SENS. Debt's the real issue here.

The yield on SRI at R17.50 still looks reasonable given what Redefine and Intu are doing in the space, but you're banking on the supermarket anchor tenants staying solvent through the next round of load-shedding pain. That's the real risk nobody's pricing in yet. Long term the property assets are solid, just need the retail environment to stabilize.

sri getting squeezed on the retail headwinds, rent collection is the only thing keeping this afloat tbh. compare it to capitec or other reits and the yield looks ok but theres real estate risk here with all the load shedding killing foot traffic. holding at r17.50 but if the property valuations take a hit next reporting season this could get ugly quick.

Do you think the tenant base can actually support these rents given load-shedding killing foot traffic. SRI's yield looks decent at R17.50 but how many of those anchor tenants are actually struggling right now.

@jim_jse4 fair points on the dividend compression, but I reckon you're underweighting how cheap the portfolio sits relative to replacement cost. Accelerate past the load-shedding noise for a second, the tenant churn's real but Redefine and Equitable Group are dealing with worse structural headwinds in their office books. SRI's at least anchored to essential retail, and if they deploy capital into the weaker assets at fire-sale prices like they've hinted, positioned perfectly to benefit when foot traffic normalises. Property markets don't reward you for timing the bottom, they reward patience.

read the latest sens release. tenant retention's worse than i thought, but balance sheet's still ok. long-term view hasn't changed.

nah man, at R18.40 the yield still looks decent but you gotta ask yourself if the retail landlord story even works anymore with online eating into foot traffic. comparable REITs trading lower multiples for a reason. long term this sector is fighting gravity unless they pivot to something other than just box rentals.

@jim_jse4 ja nailing it, dividend's the issue

Do you think the tenant mix is holding up or are retailers pulling back because of load-shedding and lower foot traffic. R18.40 feels pricy if rental collection is under pressure.

dividend getting murdered, property values holding tho

retail properties are getting hammered but SRI's yield at R18.40 is still decent if the tenant base holds. problem is load-shedding killing foot traffic at those shopping centres, rent collection gets harder. if they can keep distributions steady through this cycle might be worth nibbling but risky play right now

Closing at R18.40 and the dividend's still getting squeezed, which is the whole point of owning a reit. Property portfolio's solid but tenant base is getting thinner by the quarter, load-shedding's killing foot traffic at the malls. Hard to see the upside unless retail magically improves or they snap up distressed assets cheap.

SRI punching through R1835 on decent volume this morning. With that yield still north of 8% and property valuations under pressure across the board, reckon the market's finally pricing in the defensive case here or is this just noise ahead of earnings?

SRI trading down 2.15% to R1772 today, but the real issue is whether this REIT can maintain distribution yield in a stagflation environment where consumer spending gets squeezed and retail tenants face margin compression. The underlying property portfolio still anchors decent cas

SRI's 1.58% pullback today looks like noise given the structural headwinds facing discretionary retail exposure in South Africa. The REIT's valuation might appear attractive on yield, but I'd want to scrutinize tenant quality, lease renewal rates, and whether management's capital

I topped up my SRI holding at R1857 despite today's dip because the 8.2% yield on a REIT with predictable grocery anchor tenants beats the returns I'm getting from bonds, though I'm keeping a weather eye on their refinancing schedule into next year.