- Net rental income up 10.3 per cent
- Landbank alone larger than most Reits
Getting Segro (SGRO) back to growth is like turning an oil tanker around. The warehouse landlord is the largest real estate investment trust (Reit) in the UK, but it may be a while before investors recognise the latent value in its business model, given many seem to lump it in with the wider Reits sector. Analyst Stifel said it expected an “equity market shoulder-shrug” in reaction to its half-year results for that reason, and this is precisely what happened. On results day, its price hardly moved at all.