Sirius Real Estate (GB:SRE)
LSE:SRE
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Sirius Real Estate
(LSE:SRE)
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Rating:77Outperform
Price Target:
118.00 p
▲(24.54% Upside)
Action:ReiteratedDate:12/07/25
Sirius Real Estate's strong financial performance and strategic acquisitions are the most significant factors driving the stock score. The company's robust growth in rent roll and income, coupled with a solid dividend yield, provide a strong investment case. However, technical indicators suggest a cautious approach due to bearish trends. The positive sentiment from earnings calls and corporate events further supports the stock's potential, despite challenges such as increased finance costs and foreign exchange losses.
Positive Factors
Revenue & Profitability Growth
Sirius has delivered sustained top-line expansion and strong operating margins across 2020–2025, implying durable cash-generative operations. Consistent revenue and high EBIT/EBITDA margins support reinvestment, dividend capacity and resilience through real estate cycles, underpinning multi‑year earnings stability.
Negative Factors
Rising Leverage
Higher aggregate debt raises refinancing and interest rate sensitivity risks; increased leverage can constrain strategic flexibility for development or acquisitions. If macro rates remain elevated, servicing and rolling debt could pressure cash flow and limit ability to deleverage without asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profitability Growth
Sirius has delivered sustained top-line expansion and strong operating margins across 2020–2025, implying durable cash-generative operations. Consistent revenue and high EBIT/EBITDA margins support reinvestment, dividend capacity and resilience through real estate cycles, underpinning multi‑year earnings stability.
Read all positive factors
Sirius Real Estate (SRE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.58B
Dividend Yield5.71%
Average Volume (3M)3.41M
Price to Earnings (P/E)4.9
Beta (1Y)1.11
Revenue Growth4.79%
EPS Growth37.75%
CountryUK
Employees459
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.02
Shares Outstanding1,588,665,900
10 Day Avg. Volume2,149,201
30 Day Avg. Volume3,410,692
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)0.87
Price to Sales (P/S)4.64
P/FCF Ratio20.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£127.67Price Target Upside34.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.09
Revenue Forecast (FY)£253.18M
Sirius Real Estate Business Overview & Revenue Model
Company Description
Sirius Real Estate Limited, a real estate company, engages in the investment, development, and operation of commercial properties in Germany. It owns and manages offices; warehouses, storerooms, and self-storage spaces; and production and workshop...
How the Company Makes Money
SRE makes money primarily by leasing space in its business parks and industrial properties to tenants and collecting recurring rental income (including income from renewals, re-lettings, and occupancy improvements). It also earns revenue through a...
Sirius Real Estate Earnings Call Summary
Earnings Call Date:Nov 17, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jun 08, 2026
Earnings Call Sentiment Neutral
The earnings call indicates a strong performance with significant growth in rent roll, income, and acquisitions. However, increased finance costs, foreign exchange losses, and challenges in the U.K. market present notable concerns.Positive Updates
Significant Growth in Rent Roll
The Sirius Group successfully grew the like-for-like rent roll by more than 5% and total rent roll by more than 15% during the period.
Negative Updates
Increased Finance Costs
Finance costs increased from EUR 6.3 million to EUR 9.4 million, creating a headwind for the next 2 to 3 years.
Read all updates
Q2-2026 Updates
Positive
Negative
Significant Growth in Rent Roll
The Sirius Group successfully grew the like-for-like rent roll by more than 5% and total rent roll by more than 15% during the period.
Read all positive updates
Company Guidance
In the recent call discussing Sirius Real Estate's interim results for the period ending September 2025, several key metrics and guidance were highlighted. The group reported a 5.2% increase in like-for-like rent roll, contributing to a 7.7% rise in rental income compared to the previous year. Total rent roll grew by over 15% due to acquisitions, and occupancy in the UK increased by just over 1%. Pricing in both Germany and the UK rose by more than 4%. The company announced a dividend of EUR 0.0318 per share, marking a 4% increase year-on-year. Sirius Real Estate's net operating income increased by 4.9%, with EBITDA up by 9.7% due to operating leverage. Despite a rise in net finance expenses from EUR 6.3 million to EUR 9.4 million, funds from operations (FFO) grew by 6.6% to EUR 64.7 million. The balance sheet reflected a 0.8% increase in reported NAV, while adjusted NAV was slightly down by 0.9%, attributed to foreign exchange effects. The company aims to achieve EUR 150 million in FFO by the end of fiscal year 2028 and has begun planning for a future target of EUR 175 million, with half of the required growth already executed.Sirius Real Estate Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 322.06M | 317.50M | 288.80M | 270.10M | 210.18M | 165.36M |
| Gross Profit | 251.18M | 186.70M | 165.80M | 153.40M | 122.49M | 93.82M |
| EBITDA | 40.26M | 235.00M | 140.80M | 110.80M | 187.60M | 175.61M |
| Net Income | 208.14M | 178.10M | 107.80M | 79.60M | 147.90M | 147.45M |
Balance Sheet | ||||||
| Total Assets | 3.37B | 3.27B | 2.60B | 2.39B | 2.39B | 1.52B |
| Cash, Cash Equivalents and Short-Term Investments | 425.47M | 571.30M | 214.50M | 99.20M | 127.28M | 49.30M |
| Total Debt | 1.45B | 1.35B | 982.90M | 1.00B | 1.02B | 483.04M |
| Total Liabilities | 1.66B | 1.58B | 1.19B | 1.19B | 1.20B | 593.17M |
| Stockholders Equity | 1.71B | 1.69B | 1.41B | 1.20B | 1.19B | 926.53M |
Cash Flow | ||||||
| Free Cash Flow | 131.53M | 71.10M | 103.50M | 79.70M | 54.42M | 37.17M |
| Operating Cash Flow | 137.89M | 133.10M | 146.10M | 113.40M | 81.75M | 71.00M |
| Investing Cash Flow | -342.50M | -207.10M | -66.30M | -41.80M | -429.51M | -73.53M |
| Financing Cash Flow | 309.65M | 429.10M | 42.60M | -98.60M | 431.75M | -53.05M |
Sirius Real Estate Technical Analysis
Positive
94.75
Price Trends
100.45
Positive
98.39
Positive
97.31
Positive
Market Momentum
0.72
Negative
65.38
Neutral
86.62
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SRE, the sentiment is Positive. The current price of 94.75 is below the 20-day moving average (MA) of 96.27, below the 50-day MA of 100.45, and below the 200-day MA of 97.31, indicating a bullish trend. The MACD of 0.72 indicates Negative momentum. The RSI at 65.38 is Neutral, neither overbought nor oversold. The STOCH value of 86.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:SRE.
Sirius Real Estate Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £1.58B | 4.93 | 12.27% | 5.71% | 4.79% | 37.75% | |
76 Outperform | £50.18M | 3.28 | 6.10% | 3.92% | -6.10% | 889.93% | |
68 Neutral | £353.84M | 8.24 | 5.35% | 5.88% | -6.52% | -20.26% | |
67 Neutral | £1.24B | 7.07 | 10.25% | 3.62% | -8.66% | 553.35% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
56 Neutral | £163.45M | ― | -9.62% | ― | ― | ― | |
52 Neutral | £230.74M | 35.14 | 5.91% | 2.71% | -14.09% | ― |
* Real Estate Sector Average
GB:SRE
Sirius Real Estate
98.85
11.62
13.32%
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Sirius Real Estate Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Sirius Real Estate lifts rent roll and ramps up defence-focused expansion
Positive
Apr 13, 2026
Sirius Real Estate, a specialist owner and operator of branded business and industrial parks in Germany and the U.K., reported another year of robust operational performance, with its twelfth consecutive year of like-for-like rent roll growth abov...
Business Operations and StrategyRegulatory Filings and Compliance
Sirius Real Estate Trust Buys 2 Million Shares for Incentive Schemes
Positive
Apr 1, 2026
Sirius Real Estate’s Employee Benefit Trust has purchased 2,000,000 ordinary shares on the London Stock Exchange to satisfy existing and future awards under the company’s share incentive schemes. The on-market transaction, executed at ...
Business Operations and StrategyM&A Transactions
Sirius Real Estate Expands Defence-Focused Portfolio with €93.4m Kiel Acquisition
Positive
Mar 30, 2026
Sirius Real Estate has agreed to acquire a largely defence-anchored business park in Kiel, northern Germany, for €93.4 million including costs, adding a significant asset predominantly let to Rheinmetall and other defence, infrastructure, te...
Business Operations and StrategyPrivate Placements and Financing
Sirius Real Estate Doubles Liquidity With New €300 Million Credit Facility
Positive
Mar 18, 2026
Sirius Real Estate has secured a new €300 million unsecured revolving credit facility with four lenders, doubling the size of its previous line and maintaining pricing at 120 basis points over short-term EURIBOR. The three-year facility, whi...
Regulatory Filings and Compliance
Sirius Real Estate Confirms Total Voting Rights at 1.59 Billion Shares
Neutral
Feb 27, 2026
Sirius Real Estate has confirmed that its total issued share capital now comprises 1,588,665,840 ordinary shares of no par value, with none held in treasury, resulting in an equal number of voting rights. This disclosure provides investors and oth...
Business Operations and StrategyPrivate Placements and Financing
Sirius Real Estate Directors Back Capital Raise With Share Subscriptions
Positive
Feb 17, 2026
Sirius Real Estate has disclosed that its CEO, CFO, Chief Investment Officer and a non-executive director have all participated in the company’s latest capital raise. The directors subscribed for new ordinary shares at £1.02 each, inves...
Business Operations and StrategyPrivate Placements and Financing
Sirius Real Estate Raises £77m to Fund Defence-Focused German Acquisitions
Positive
Feb 17, 2026
Sirius Real Estate has raised gross proceeds of £77 million through the issue of 75.5 million new shares, equal to about 5% of its existing share capital, at a slight premium to its recent share price. The capital will fund two German acquisi...
Business Operations and StrategyPrivate Placements and Financing
Sirius Real Estate Opens Retail Share Offer to Fund Defence-Focused German Acquisitions
Positive
Feb 16, 2026
Sirius Real Estate has launched a conditional retail offer of new ordinary shares via platform provider RetailBook, alongside a separate institutional placing, as part of a wider capital raise. The offer, open to UK-based new and existing investor...
Business Operations and StrategyPrivate Placements and Financing
Sirius Real Estate to Raise £75m for Defence-Focused German Acquisitions
Positive
Feb 16, 2026
Sirius Real Estate plans to raise about £75 million through a non-pre-emptive placing of new shares, alongside a £2 million retail offer, to fund two defence-focused industrial acquisitions in Germany worth roughly €130 million. Th...
Business Operations and StrategyExecutive/Board Changes
Sirius Real Estate Adds Veteran Industrial Investor Ian Watson to Board
Positive
Feb 11, 2026
Sirius Real Estate, a major operator of business and industrial parks in Germany and the UK, has appointed veteran industrial property investor Ian Watson as an independent non-executive director and member of its nomination committee. Watson brin...
DividendsFinancial Disclosures
Sirius Real Estate Details Uptake of Dividend Reinvestment Plan Without Share Dilution
Positive
Feb 3, 2026
Sirius Real Estate has reported the take-up of its Dividend Reinvestment Plan (DRIP) following the cash dividend declared for the six months to 30 September 2025, allowing shareholders to receive their dividend in the form of existing Sirius ordin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.