REGIONAL REIT

RGL.L

REIT - Office · Real Estate

Price

95.00 GBp

-1.20 (-1.25%)

Market Cap

£154.0M

Exchange

London Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Strong

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Share count rising — dilution

+252.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 46.0M (2021) → 162.1M (2025)

Winston Score History

The full picture

Regional REIT Limited is a real estate investment trust based in the United Kingdom that owns and rents out office buildings. Unlike REITs focused on London, it deliberately targets office properties in regional UK cities such as Glasgow, Manchester, and Birmingham. Its tenants are mostly small and medium-sized businesses that need affordable office space outside the expensive capital.

The company makes money by collecting rent from its tenants across a portfolio of roughly 150 properties. It is listed on the London Stock Exchange and has a market value of around £200 million, making it a smaller player in the UK commercial property market. The main risk the business faces is structural: demand for regional office space has weakened since the pandemic as more workers work from home, and the company carries significant debt, which puts pressure on its ability to maintain dividend payments if rental income falls or property values decline further.

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

-17.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+31.8% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

£0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

22.7%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

£585M cash & investments

Quarterly Free Cash Flow

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

Revenue declining

REGIONAL REIT'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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

46.4%

Healthy — 46.4% gross margin

Profit after running costs

Operating Margin

36.7%

Excellent — 36.7% operating margin

Return on the money invested

ROCE

2.7%

Weak — 2.7% 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

-13.6%

Shrinking sales (-13.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-0.8%

Burning cash (-0.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.82

Moderate — manageable debt (0.82)

Covers its interest

Interest Cover

2.59x

Tight — interest eats into profit (2.6x)

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

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

9.66%

Healthy income — 9.66% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+4.4%

Dividend growing modestly (4.4% YoY)

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