Declared Dividend • Aug 04
First half dividend increased to UK£0.10 Dividend of UK£0.10 is 4.5% higher than last year. Ex-date: 6th August 2026 Payment date: 17th September 2026 Dividend yield will be 3.3%, which is lower than the industry average of 3.8%. New Risk • Jul 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 40% Last year net profit margin: 89% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (40% net profit margin). Announcement • Jul 30
Segro plc Announces Interim Dividend 2026, Payable on 17 September 2026 SEGRO Plc announced Interim dividend increased by 4.5% to 10.14 pence (H1 2025: 9.7 pence). 2026 interim dividend payment date is 17 September 2026. Ex-div date for 2026 interim dividend is 6 August 2026 and record date is 7 August 2026. Major Estimate Revision • Jul 23
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from UK£0.637 to UK£0.731. Revenue forecast steady at UK£769.5m. Net income forecast to grow 39% next year vs 30% growth forecast for Industrial REITs industry in the United Kingdom. Consensus price target up from UK£9.28 to UK£9.54. Share price rose 7.8% to UK£9.53 over the past week. Live News • Jun 30
Prologis Publishes Presentation for Possible All-Share Combination With SEGRO Prologis has released an investor presentation proposing a possible all-share combination with SEGRO, highlighting what it describes as a substantial upfront premium for SEGRO shareholders and a plan to combine their logistics, data center and energy-focused assets.
The presentation argues that Prologis’ balance sheet and access to capital could accelerate value from SEGRO’s development and data center pipeline, which Prologis suggests SEGRO may find harder to fully realise on its own given balance sheet limits and a trading discount.
SEGRO’s share price is around £8.78, with the stock up 36.4% over the past 90 days, indicating that expectations around corporate activity and portfolio value are already an important part of how the market is pricing the company.
The key issue for SEGRO investors is whether any formal offer, if it emerges, adequately reflects both the immediate premium and the longer-term value of the development and data center assets SEGRO currently controls. Announcement • Jun 25
Prologis, Inc. (NYSE:PLD) cancelled the acquisition of SEGRO Plc (LSE:SGRO) for £12.6 billion. Prologis, Inc. (NYSE:PLD) proposed to acquire SEGRO Plc (LSE:SGRO) for £12.6 billion on June 16, 2026. The consideration consists of common equity of Prologis, Inc. at a ratio of 0.084 per common equity of SEGRO Plc. As part of consideration, £12.584 billion is paid towards common equity of SEGRO Plc. Following completion of the Combination, SEGRO shareholders would hold approximately 10.5 per cent of Prologis' issued share capital. Prologis believes that the Combination is a highly compelling opportunity for SEGRO shareholders. SEGRO shareholders would receive shares in the world's largest logistics REIT with a $140.9 billion market capitalization, unlocking, on closing, significant upside to the current share price. Prologis urges SEGRO shareholders to encourage the SEGRO Board to engage with Prologis to allow a binding offer to be put to SEGRO shareholders for their consideration. There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.
Linklaters LLP acted as legal advisor for Prologis, Inc. Alex Midgen, Matthew Greenberger and Sam Green of N.M. Rothschild & Sons Limited acted as financial advisor for Prologis, Inc. James Robinson, Saravanan Nagappan and Thomas Grier of J.P. Morgan Securities plc acted as financial advisor for Prologis, Inc. Max von Hurter of Eastdil Secured, L.L.C. acted as financial advisor for Prologis, Inc. Simon Sporborg, Nina Coad, Stuart Hudson and Ed Brown of Brunswick Group, LLC. advised SEGRO Plc. Simon Warshaw and Kunal Ranpara of Evercore Partners International LLP acted as financial advisors for SEGRO Plc. Nick White, Anthony Zammit and Tom Perry of Morgan Stanley & Co. International plc acted as financial advisors for SEGRO Plc. Jonathan Retter and George Dracup of UBS AG, London Branch are acted as financial advisors for SEGRO Plc. Slaughter and May acted as exclusive legal advisor for SEGRO Plc. Richard Sunderland, Ed Bridges and Alex Le May of FTI Consulting advised SEGRO Plc.
Prologis, Inc. (NYSE:PLD) cancelled the acquisition of SEGRO Plc (LSE:SGRO) on June 23, 2026. The Board of SEGRO unequivocally rejected the Combination proposal. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£8.71, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Industrial REITs industry in Europe. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£5.60 per share. Announcement • Jun 10
Lauro Asset Management Urges Segro to Spin Off Data Centers On June 8, 2026, Lauro Asset Management announced and urged Segro to spin off its data centre division, claiming the market undervalues it. Announcement • Apr 25
SEGRO Plc Approves Declares Final Dividend SEGRO Plc approved a declare a final dividend of 21.4 pence per ordinary share, at the AGM held on April 23, 2026. Upcoming Dividend • Mar 19
Upcoming dividend of UK£0.21 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 08 May 2026. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (4.9%). Announcement • Mar 16
SEGRO Plc, Annual General Meeting, Apr 23, 2026 SEGRO Plc, Annual General Meeting, Apr 23, 2026. Location: rsa house, 8 john adam street, wc2n 6ez, london United Kingdom New Risk • Mar 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.8% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 102% Cash payout ratio: 115% Declared Dividend • Feb 23
Final dividend increased to UK£0.21 Dividend of UK£0.21 is 5.9% higher than last year. Ex-date: 26th March 2026 Payment date: 8th May 2026 Dividend yield will be 3.8%, which is about the same as the industry average. Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: UK£0.41 (vs UK£0.45 in FY 2024) Full year 2025 results: EPS: UK£0.41 (down from UK£0.45 in FY 2024). Revenue: UK£726.0m (up 7.6% from FY 2024). Net income: UK£551.0m (down 7.2% from FY 2024). Profit margin: 76% (down from 88% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Industrial REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Feb 20
SEGRO Plc Announces Dividend for Full Year of 2025, Payable on 8 May 2026 SEGRO Plc announced that 2025 full year dividend increased 6.1% to 31.1 pence (2024: 29.3 pence). Final dividend increased by 5.9% to 21.4 pence (2024: 20.2 pence). 2025 final dividend ex-div date is on 26 March 2026 with 2025 final dividend record date on 27 March 2026. 2025 final dividend payment date is on 8 May 2026. Announcement • Feb 11
SEGRO plc Announces Appointment of Louisa Burdett as Independent Non-Executive Director, Effective May 1, 2026 SEGRO plc announced the appointment of Louisa Burdett as an independent Non-Executive Director with effect from May 1, 2026. Louisa, a Chartered Accountant, is the Chief Financial Officer of Spirax Group plc and has worked in a number of senior financial roles in a broad range of sectors throughout her career including, most recently, as Chief Financial Officer of Croda International plc, Meggitt plc and Victrex plc. She was a Non-Executive Director of RS Group plc from 2017 until January 31, 2026 and served as Chair of its Audit Committee until July 2025. Announcement • Jan 09
SEGRO Plc to Report First Half, 2026 Results on Jul 30, 2026 SEGRO Plc announced that they will report first half, 2026 results on Jul 30, 2026 Announcement • Jan 07
Segro Public Limited Company Announces Termination of Director Appointment for Mr. Soumen Das Effective December 31, 2025 Segro Public Limited Company announced the termination of the appointment of Mr. Soumen Das as director, effective December 31, 2025. Major Estimate Revision • Aug 07
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£692.2m to UK£701.6m. EPS estimate fell from UK£0.656 to UK£0.556 per share. Net income forecast to grow 53% next year vs 17% growth forecast for Industrial REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£8.15. Share price was steady at UK£6.39 over the past week. Declared Dividend • Aug 03
First half dividend increased to UK£0.097 Dividend of UK£0.097 is 6.6% higher than last year. Ex-date: 7th August 2025 Payment date: 19th September 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.8%. Reported Earnings • Aug 03
First half 2025 earnings released: EPS: UK£0.18 (vs UK£0.17 in 1H 2024) First half 2025 results: EPS: UK£0.18 (up from UK£0.17 in 1H 2024). Revenue: UK£351.0m (up 7.3% from 1H 2024). Net income: UK£247.0m (up 12% from 1H 2024). Profit margin: 70% (up from 67% in 1H 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Industrial REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Marcus Sperber was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 31
CEO & Executive Director recently sold UK£727k worth of stock On the 26th of March, David John Sleath sold around 103k shares on-market at roughly UK£7.04 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David John's only on-market trade for the last 12 months. Upcoming Dividend • Mar 20
Upcoming dividend of UK£0.20 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 14 May 2025. Trailing yield: 4.2%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (4.8%). Major Estimate Revision • Mar 14
Consensus EPS estimates increase by 13%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from UK£717.2m to UK£709.8m. EPS estimate rose from UK£0.602 to UK£0.681. Net income forecast to grow 93% next year vs 12% growth forecast for Industrial REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£8.80. Share price rose 2.2% to UK£6.89 over the past week. Declared Dividend • Mar 03
Final dividend increased to UK£0.20 Dividend of UK£0.20 is 5.8% higher than last year. Ex-date: 27th March 2025 Payment date: 14th May 2025 Dividend yield will be 4.2%, which is higher than the industry average of 3.8%. Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 24% The consensus outlook for fiscal year 2025 has been updated. 2025 consensus EPS estimate fell from UK£0.792 to UK£0.602. Revenue forecast reaffirmed at UK£717.2m. Net income forecast to grow 93% next year vs 46% growth forecast for Industrial REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£8.87. Share price was steady at UK£7.04 over the past week. Declared Dividend • Feb 17
Final dividend increased to UK£0.20 Dividend of UK£0.20 is 5.8% higher than last year. Ex-date: 27th March 2025 Payment date: 14th May 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.8%. Reported Earnings • Feb 15
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: UK£0.45 (up from UK£0.21 loss in FY 2023). Revenue: UK£675.0m (down 9.9% from FY 2023). Net income: UK£594.0m (up UK£847.0m from FY 2023). Profit margin: 88% (up from net loss in FY 2023). Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Industrial REITs industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Announcement • Feb 15
SEGRO Plc Increases Dividend for Full Year of 2024, Payable on 14 May 2025 SEGRO Plc announced 2024 full year dividend increased 5.4% to 29.3 pence against 27.8 pence a year ago. Final dividend increased by 5.8% to 20.2 pence against 19.1 pence a year ago.
2024 final dividend ex-div date is 27 March 2025. 2024 final dividend record date is 28 March 2025. 2024 final dividend payment date is 14 May 2025. Announcement • Sep 27
SEGRO Plc to Report Fiscal Year 2024 Results on Feb 14, 2025 SEGRO Plc announced that they will report fiscal year 2024 results at 6:00 AM, Coordinated Universal Time on Feb 14, 2025 Declared Dividend • Jul 29
First half dividend increased to UK£0.091 Dividend of UK£0.091 is 4.6% higher than last year. Ex-date: 8th August 2024 Payment date: 20th September 2024 Dividend yield will be 3.2%, which is lower than the industry average of 3.8%. Reported Earnings • Jul 28
First half 2024 earnings released: EPS: UK£0.17 (vs UK£0.019 loss in 1H 2023) First half 2024 results: EPS: UK£0.17 (up from UK£0.019 loss in 1H 2023). Revenue: UK£327.0m (down 4.4% from 1H 2023). Net income: UK£220.0m (up UK£243.0m from 1H 2023). Profit margin: 67% (up from net loss in 1H 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Industrial REITs industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Jul 26
SEGRO Plc Announces Interim Dividend, Payable on 20 September 2024 SEGRO Plc announced interim dividend of increased by 4.6% to 9.1 pence (2023: 8.7 pence). Interim dividend ex-div date is 8 August 2024. Interim dividend record date is 9 August 2024. Interim dividend payment date is 20 September 2024. New Risk • May 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). Announcement • Apr 27
SEGRO Plc Appoints Marcus Sperber as New Independent Non-Executive Director, Effective from 1 May 2024 SEGRO Plc announced the appointment of Marcus Sperber, who is an independent Non-Executive Director of Savills plc, as a new independent Non-Executive Director of SEGRO Plc with effect from 1 May 2024. Upcoming Dividend • Mar 07
Upcoming dividend of UK£0.19 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 03 May 2024. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (4.0%). Declared Dividend • Feb 19
Final dividend increased to UK£0.19 Dividend of UK£0.19 is 4.9% higher than last year. Ex-date: 14th March 2024 Payment date: 3rd May 2024 Dividend yield will be 3.3%, which is lower than the industry average of 3.8%. Reported Earnings • Feb 18
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: UK£0.21 loss per share (improved from UK£1.60 loss in FY 2022). Revenue: UK£749.0m (up 12% from FY 2022). Net loss: UK£253.0m (loss narrowed 87% from FY 2022). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to decline by 3.6% p.a. on average during the next 2 years, while revenues in the Industrial REITs industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • Dec 14
SEGRO Plc Announces Retirement of Martin Moore from the Board SEGRO Plc announced that regarding the retirement of Non-Executive Director Martin Moore, the Company confirms that Martin will step down from the Board on 31 December 2023. Announcement • Nov 21
SEGRO Plc to Report Q2, 2024 Results on Jul 26, 2024 SEGRO Plc announced that they will report Q2, 2024 results at 7:30 AM, Coordinated Universal Time on Jul 26, 2024 Announcement • Oct 05
SEGRO Plc Appoints Philipp Oevermann as New European Head of Investment SEGRO Plc has appointed Philipp Oevermann to lead the company’s investment activities in continental Europe. Oevermann will manage the growth of SEGRO’s portfolio across European markets Oevermann has been with SEGRO for more than five years and was previously director of logistics in Germany. He has around 15 years’ experience in real estate investment and asset management. Oevermann’s new role will see him manage the growth of SEGRO’s portfolio across key European markets, including asset recycling and acquisition. Recent Insider Transactions • Aug 06
Key Executive recently bought UK£795k worth of stock On the 31st of July, Andrew Harrison bought around 105k shares on-market at roughly UK£7.61 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Andrew has been a buyer over the last 12 months, purchasing a net total of UK£4.1m worth in shares. Upcoming Dividend • Aug 03
Upcoming dividend of UK£0.087 per share at 3.6% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 22 September 2023. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (4.3%). Announcement • Jul 30
P3 Logistic Parks acquired two logistics assets in Crick and Kettering from SEGRO Plc (LSE:SGRO). P3 Logistic Parks acquired two logistics assets in Crick and Kettering from SEGRO Plc (LSE:SGRO) on July 28, 2023. P3 was advised by Colliers on the transaction. DTRE and ACRE acted on behalf of SEGRO. P3 Logistic Parks completed the acquisition of two logistics assets in Crick and Kettering from SEGRO Plc (LSE:SGRO) on July 28, 2023. Announcement • Jul 28
SEGRO Plc Declares Interim Dividend, Payable on 22 September 2023 The Board of SEGRO Plc has declared an increase in the interim dividend of 0.6 pence per share to 8.7 pence (H1 2022: 8.1 pence), a rise of 7.4 per cent. This will be paid as a Property Income Distribution (PID) on 22 September 2023 to shareholders on the register at the close of business on 9 August 2023. Reported Earnings • Jul 28
First half 2023 earnings released: UK£0.019 loss per share (vs UK£1.11 profit in 1H 2022) First half 2023 results: UK£0.019 loss per share (down from UK£1.11 profit in 1H 2022). Revenue: UK£342.0m (up 3.6% from 1H 2022). Net loss: UK£23.0m (down 102% from profit in 1H 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Industrial REITs industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jul 28
SEGRO Plc to Report Fiscal Year 2023 Results on Feb 16, 2024 SEGRO Plc announced that they will report fiscal year 2023 results on Feb 16, 2024 Announcement • May 18
SEGRO Plc Announces Management Changes SEGRO plc confirmed that Andy will be retiring from the business and stepping down from the Board on 30 June 2023. SEGRO is appointing James Craddock, Paul Dunne, Andrew Pilsworth and Marco Simonetti to its Executive Committee, reporting to David Sleath, Chief Executive. The new roles, which will take effect from 1 July 2023, are detailed below and will fulfil a wide range of functions from leading the Group’s property operations, implementing its sustainability strategy, to incubating new propositions and driving growth. James Craddock has been promoted from his role as Managing Director of SEGRO’s Thames Valley business unit to Managing Director, UK. Marco Simonetti has been promoted from his role as Managing Director of SEGRO’s Southern Europe business unit to Managing Director, Continental Europe. Paul Dunne, currently Managing Director, Group Operations has been promoted to this role. The Chief of Staff will work closely with David Sleath and other Executive Committee members in developing and implementing strategic initiatives and leading on cross-border business propositions. Andrew Pilsworth, currently Managing Director of SEGRO’s National Logistics business unit, has been promoted to this role. As a result of these changes, James, Paul, Andrew and Marco will join the Executive Committee alongside existing members David Sleath, Soumen Das (Chief Financial Officer) and Margaret Murphy (Group HR Director). Upcoming Dividend • Mar 09
Upcoming dividend of UK£0.18 per share at 3.4% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 04 May 2023. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (4.5%). Recent Insider Transactions • Mar 09
Key Executive recently bought UK£1.9m worth of stock On the 6th of March, Andrew Harrison bought around 229k shares on-market at roughly UK£8.13 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Andrew has been a buyer over the last 12 months, purchasing a net total of UK£3.7m worth in shares. Recent Insider Transactions • Feb 22
Key Executive recently bought UK£994k worth of stock On the 20th of February, Andrew Harrison bought around 115k shares on-market at roughly UK£8.61 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Andrew has been a buyer over the last 12 months, purchasing a net total of UK£1.8m worth in shares. Reported Earnings • Feb 19
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: UK£1.60 loss per share (down from UK£3.39 profit in FY 2021). Revenue: UK£669.0m (up 23% from FY 2021). Net loss: UK£1.93b (down 148% from profit in FY 2021). Net asset value (NAV) per share: UK£9.41 (down 16% from FY 2021). The current share price is 7.9% lower than NAV per share. Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 184%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the REITs industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 18
SEGRO Plc Announces Board and Committee Changes SEGRO plc announced that Martin Moore will step down as Senior Independent Director on completing 9 years’ valuable service on the Board on 1 July 2023. He will continue serving as a Non-Executive Director and member of the Audit, Nomination and Remuneration Committees until his retirement from the Board later in the year. Carol Fairweather will become Senior Independent Director with effect from 1 July 2023. She has served as a Non-Executive Director since 1 January 2018. She will continue to serve as the Chair of the Audit Committee and a member of the Nomination and Remuneration Committees. Mary Barnard, Non-Executive Director, will step down from the Audit Committee with effect from 1 July 2023. She will remain a member of the Nomination and Remuneration Committees. Major Estimate Revision • Feb 12
Consensus EPS estimates fall from profit to UK£0.19 loss The consensus outlook for fiscal year 2022 has been updated. Forecast loss of -UK£0.187 per share in 2022, versus previous forecasts of UK£0.439 per share. Revenue forecast unchanged from UK£522.5m at last update. REITs industry in the United Kingdom expected to see average net income decline 69% next year. Consensus price target of UK£9.34 unchanged from last update. Share price fell 6.2% to UK£8.30 over the past week. Major Estimate Revision • Jan 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from UK£0.96 to UK£0.44. Revenue forecast unchanged from UK£510.4m at last update. Net income forecast to shrink 100% next year vs 67% decline forecast for REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£9.31. Share price was steady at UK£8.32 over the past week. Major Estimate Revision • Dec 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from UK£0.33 to UK£0.64. Revenue forecast unchanged at UK£536.8m. Net income forecast to shrink 94% next year vs 48% decline forecast for REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£9.25. Share price fell 2.1% to UK£8.03 over the past week. Major Estimate Revision • Nov 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from UK£0.75 to UK£0.55. Revenue forecast unchanged from UK£527.4m at last update. Net income forecast to shrink 90% next year vs 30% decline forecast for REITs industry in the United Kingdom. Consensus price target down from UK£9.81 to UK£9.61. Share price was steady at UK£7.94 over the past week. Major Estimate Revision • Oct 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from UK£1.08 to UK£0.60 per share. Revenue forecast steady at UK£527.4m. Net income forecast to shrink 86% next year vs 23% decline forecast for REITs industry in the United Kingdom. Consensus price target down from UK£11.37 to UK£9.81. Share price rose 6.3% to UK£7.98 over the past week. Major Estimate Revision • Oct 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from UK£1.08 to UK£0.87 per share. Revenue forecast steady at UK£529.0m. Net income forecast to shrink 72% next year vs 23% decline forecast for REITs industry in the United Kingdom. Consensus price target down from UK£11.55 to UK£10.38. Share price was steady at UK£7.40 over the past week. Price Target Changed • Oct 21
Price target decreased to UK£10.38 Down from UK£11.24, the current price target is an average from 20 analysts. New target price is 41% above last closing price of UK£7.35. Stock is down 43% over the past year. The company is forecast to post earnings per share of UK£1.08 for next year compared to UK£3.39 last year. Buying Opportunity • Oct 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be UK£9.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings is forecast to decline by 21% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to UK£7.38, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the REITs industry in the United Kingdom. Total loss to shareholders of 2.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£10.26 per share. Buying Opportunity • Sep 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be UK£10.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to decline by 3.8% in 2 years. Earnings is forecast to decline by 65% in the next 2 years. Recent Insider Transactions • Sep 17
Key Executive recently bought UK£199k worth of stock On the 14th of September, Andrew Harrison bought around 22k shares on-market at roughly UK£8.92 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Andrew has been a buyer over the last 12 months, purchasing a net total of UK£596k worth in shares. Major Estimate Revision • Sep 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from UK£1.74 to UK£1.26 per share. Revenue forecast steady at UK£514.2m. Net income forecast to shrink 53% next year vs 15% decline forecast for REITs industry in the United Kingdom. Consensus price target broadly unchanged at UK£12.52. Share price fell 3.3% to UK£8.77 over the past week. Major Estimate Revision • Aug 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from UK£608.7m to UK£528.8m. EPS estimate unchanged from UK£2.05 per share at last update. REITs industry in the United Kingdom expected to see average net income decline 12% next year. Consensus price target broadly unchanged at UK£13.14. Share price was steady at UK£10.72 over the past week. Upcoming Dividend • Aug 04
Upcoming dividend of UK£0.081 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 23 September 2022. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.1%). Lower than average of industry peers (3.5%). Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£1.32b from profit in 1H 2021). Profit margin: (down from 535% in 1H 2021). Over the next year, revenue is expected to shrink by 2.2% compared to a 6.7% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
SEGRO Plc to Report Fiscal Year 2022 Results on Feb 17, 2023 SEGRO Plc announced that they will report fiscal year 2022 results on Feb 17, 2023 Recent Insider Transactions Derivative • May 13
CEO & Executive Director exercised options to buy UK£361k worth of stock. On the 4th of May, David John Sleath exercised options to buy 32k shares at a strike price of around UK£12.04, costing a total of UK£391k. This transaction amounted to 4.6% of their direct individual holding at the time of the trade. Since September 2021, David John has owned 702.16k shares directly. Company insiders have collectively bought UK£1.1m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Mar 10
Upcoming dividend of UK£0.17 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 04 May 2022. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (4.8%). Lower than average of industry peers (3.0%). Reported Earnings • Feb 19
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: UK£3.39 (up from UK£1.24 in FY 2020). Revenue: UK£546.0m (up 27% from FY 2020). Net income: UK£4.06b (up 185% from FY 2020). Net asset value (NAV) per share: UK£11.18 (up 38% from FY 2020). The current share price is 13% higher than NAV per share. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 52%. Over the next year, revenue is forecast to grow 1.6%, compared to a 3.1% growth forecast for the reits industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from UK£570.0m to UK£513.0m. EPS estimate rose from UK£1.61 to UK£1.90. Net income forecast to shrink 10% next year vs 29% growth forecast for REITs industry in the United Kingdom . Consensus price target broadly unchanged at UK£14.21. Share price rose 2.5% to UK£12.78 over the past week. Recent Insider Transactions • Sep 26
Independent Non-Executive Director recently bought UK£60k worth of stock On the 24th of September, Linda Yueh bought around 5k shares on-market at roughly UK£12.70 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£976k more in shares than they bought in the last 12 months. Upcoming Dividend • Aug 05
Upcoming dividend of UK£0.074 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 24 September 2021. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (3.9%). Lower than average of industry peers (2.6%). Reported Earnings • Jul 31
First half 2021 earnings released: EPS UK£1.10 (vs UK£0.20 in 1H 2020) First half 2021 results: Revenue: UK£246.0m (up 24% from 1H 2020). Net income: UK£1.32b (up UK£1.10b from 1H 2020). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Major Estimate Revision • Jul 29
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from UK£490.1m to UK£465.8m. EPS estimate rose from UK£1.20 to UK£1.78. Net income forecast to grow 1.1% next year vs 26% growth forecast for REITs industry in the United Kingdom. Consensus price target up from UK£10.72 to UK£11.07. Share price was steady at UK£11.95 over the past week. Recent Insider Transactions • May 08
CEO & Executive Director recently sold UK£1.0m worth of stock On the 5th of May, David John Sleath sold around 104k shares on-market at roughly UK£10.02 per share. This was the largest sale by an insider in the last 3 months. This was David John's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • May 08
CEO & Executive Director exercised options to buy UK£1.1m worth of stock. On the 5th of May, David John Sleath exercised 141.41k options to receive shares at no cost, then sold around 37.06k of them at UK£10.02 each and kept the remainder. Since June 2020, David John has owned 701.80k shares directly. Company insiders have collectively bought UK£1.5m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS UK£1.24 (vs UK£0.79 in FY 2019) Full year 2020 results: Revenue: UK£431.7m (flat on FY 2019). Net income: UK£1.43b (up 66% from FY 2019). Net asset value (NAV) per share: UK£8.11 (up 16% from FY 2019). The current share price is 13% higher than NAV per share. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 10
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) exceeded analyst estimates by 75%. Over the next year, revenue is forecast to grow 7.3% compared to a 5.4% decline forecast for the REITs industry in the United Kingdom. Is New 90 Day High Low • Mar 05
New 90-day low: UK£8.76 The company is down 3.0% from its price of UK£9.05 on 04 December 2020. The British market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£6.47 per share. Price Target Changed • Feb 25
Price target raised to UK£10.90 Up from UK£10.16, the current price target is an average from 7 analysts. The new target price is 18% above the current share price of UK£9.27. As of last close, the stock is up 8.2% over the past year.