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AI’s turning warehouses and knowledge centres into among the most fascinating passive earnings performs on the London market.
For traders focusing on dividends, actual property funding trusts (REITs) supply a easy attraction: they accumulate hire and cross a big share of that money out to shareholders.
Within the UK, two names stand out for anybody linking AI demand to earnings: Tritax Huge Field REIT (LSE:BBOX) and SEGRO (LSE:SGRO).
The important thing query is which one appears higher for earnings right now, not simply in idea?
Newest outcomes and earnings profile
Each firms have simply reported stronger rental development, and each are leaning into knowledge centre-linked alternatives.
Tritax mentioned its half-year 2026 web rental earnings rose 16.2% to £173.3m, whereas adjusted earnings per share (EPS) rose 7% to 4.41p. It additionally lifted its interim dividend 4.4% to 4p and ended the interval with web tangible property (NTA) per share of 185.88p and loan-to-value (LTV) of 32.9%.
SEGRO’s half-year 2026 outcomes have been additionally stable. Like-for-like web rental earnings rose 5.3%, adjusted EPS 6.6% to 19.3p, and the interim dividend was boosted 4.5% to 10.14p. Its EPRA (European Actual Property Affiliation) NTA per share fell 2.5% to 902p and loan-to-value (LTV) stayed at 31%.
| Metric | Tritax Huge Field | SEGRO |
|---|---|---|
| Web rental earnings | £173.3m | up 5.3% |
| Adjusted EPS | 4.41p | 19.3p |
| Interim dividend | 4p | 10.14p |
| EPRA NTA per share | 185.88p | 902p |
| LTV | 32.90% | 31% |
Which earnings appears higher?
The earnings angle’s clear. Tritax’s dividend yield has held round 5.3% for latest months, whereas SEGRO’s has hovered round 3.3%. Meaning Tritax at the moment presents the larger money payout, however SEGRO has the bigger, extra diversified platform and a stronger monitor report of compounding.
For a pure passive earnings play, Tritax is the higher-yielding inventory. It has additionally mentioned it’s lifting ambitions for adjusted EPS development to 65% by 2030/31, helped by an information centre pipeline with secured energy of 507MW. That implies the earnings story is probably not standing nonetheless.
SEGRO’s administration has pointed to a wider European pipeline, together with 3GVA of energy financial institution and a £50p EPS goal by 2030, however the present yield’s decrease.
Dangers to observe
Tritax is extra uncovered to UK logistics sentiment and execution threat round its increasing knowledge centre pipeline. SEGRO has broader geographic diversification, nevertheless it nonetheless faces valuation strain from rates of interest and slower leasing if occupier demand weakens
Each face the standard threat that property yields transfer towards shareholders.
The broader UK property market can also be delicate to borrowing prices, planning delays and financial development, so earnings yield doesn’t take away macro threat.
My verdict
For traders focusing on the very best fast earnings, Tritax Huge Field is clearly the extra engaging possibility to think about proper now. However in the event you’re in search of a steadier long-term compounder with a stronger stability sheet and broader asset base, SEGRO deserves a better look.
Briefly, Tritax presents the higher earnings worth right now, however SEGRO could show the extra sturdy AI-linked property story over time.
However whereas AI may be the driving drive behind a lot of the market’s actions nowadays, there’s one different UK earnings inventory that may very well be much more interesting…
What earnings inventory will we like higher than Tritax Huge Field REIT Plc proper now?
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Mark Hartley doesn’t maintain any positions within the firms talked about.
