Real Estate Investors

RLE.L

REIT - Diversified · Real Estate

Exchange

London Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Real Estate Investors plc is a UK property company that buys, rents out, and manages commercial buildings. Its portfolio includes offices, retail units, and industrial properties, mostly rented to small and medium-sized businesses across the Midlands region of England. It is a Real Estate Investment Trust, meaning it is structured specifically to own and lease property.

The company makes money by collecting rent from its tenants, and it is required to pay out most of its profits as dividends to shareholders because of its REIT status. It operates entirely within the UK, focused on the Midlands, which keeps costs manageable but also concentrates its risk in one region. With a market cap of around £100 million, it is a small player in the UK property market, and its main challenge is navigating rising interest rates, which increase borrowing costs and can reduce property values, putting pressure on returns for investors.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-242.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

22.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£118M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Real Estate Investors's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

76.9%

Premium pricing power — 76.9% gross margin

Profit after running costs

Operating Margin

54.5%

Excellent — 54.5% operating margin

Return on the money invested

ROCE

4.1%

Weak — 4.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-13.0%

Shrinking sales (-13.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

19.8%

Converts sales into free cash efficiently (19.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.40

Conservative — low debt load (0.40)

Covers its interest

Interest Cover

2.03x

Tight — interest eats into profit (2.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

5.13%

no trend

Healthy income — 5.13% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

-12.5%

no trend

Dividend cut (-12.5% YoY) — warning sign

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