Schroder European Real Estate Investment Trust Plc (SERE) Earnings Call Transcripts

Schroder European Real Estate Investment Trust Plc's Latest Earnings Call - June 24, 2026

In the half-year results for the period ending March 31, 2026, Schroder European Real Estate Investment Trust Plc announced a strategic shift towards an orderly wind-down of the company, subject to shareholder approval. This decision stems from a prolonged 40% discount to NAV and a preference among investors for larger, more liquid real estate vehicles. The company reported a NAV of EUR 151.3 million, translating to EUR 1.152 per share, alongside a quarterly dividend of EUR 0.0148 per share, maintaining a dividend cover of 93%. Management indicated that the wind-down process could take up to three years, during which dividends will continue to be paid as assets are sold and capital is returned to shareholders.

Reported metrics

Guidance from management

Management indicated that the wind-down process could take up to three years, during which dividends will continue to be paid as assets are sold and capital is returned to shareholders.

What management said

Brilliant. Thanks, Jeff, and thank you, everyone, for sending in your questions. As Jeff said, we've had quite a few come in. If you'd like to keep sending them, please do. I'll ask Jeff as we go through. Jeff, maybe just picking up on a couple of the key themes. One that's coming out is, and you've just mentioned it there is the time line for disposals. I think 2 to 3 years, Jeff, is what you've guided to in the R...

Brilliant. And so the obvious follow-up question there is then what are the assets you think you can sell more quickly and start returning capital to shareholders? I appreciate you might not be able to give specifics here. It might be commercially sensitive information, but can you share any?

What analysts pressed on

Analysts expressed concerns about the timeline for asset disposals and the potential impact of the French tax dispute on cash flows. There are also worries regarding the company's ability to achieve NAV during the sales process, especially in the current market conditions.

Main topics on the call

• Strategic Wind-Down Announcement — Management announced an intention to propose an orderly wind-down of the company, citing a 'prolonged 40% discount to NAV' as a key factor. They believe this approach is 'in the best interest of shareholders' and will al...
• Dividend Continuation — The company will continue to pay dividends throughout the wind-down process, with a quarterly dividend of EUR 0.0148 per share announced. This maintains a dividend cover of 93%, similar to the previous year.
• NAV Performance — The NAV for the period is reported at EUR 151.3 million, or EUR 1.152 per share. This reflects a slight decrease primarily due to 'some vacancy that has occurred in Alkmaar and Cannes'.
• Asset Management Initiatives — Management highlighted successful lease regears in Stuttgart and Rumilly, with rental increases of 'between 18% and 20%'. They aim to improve asset liquidity and value through ongoing asset management.

Read the full Schroder European Real Estate Investment Trust Plc transcript (June 24, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 1 Schroder European Real Estate Investment Trust Plc earnings call transcript on record, spanning June 24, 2026 to June 24, 2026. The most recent call on file is dated June 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SERE

Exchange

LSE

Country

GB

Sector

Real Estate

Industry

Diversified REITs

Calls on record

1

First call

June 24, 2026

Most recent

June 24, 2026