EastGroup Properties, Inc. (EGP) vs Terreno Realty Corporation (TRNO)

EastGroup Properties, Inc. and Terreno Realty Corporation are both Reit Industrial companies. EastGroup Properties, Inc. is the larger, with a market value of $10.9B against $7.2B — 1.5× the size. Terreno Realty Corporation trades at the lower P/E: 17.7× against 35.3×. Terreno Realty Corporation grew revenue faster over the last twelve months: 18.1% against 11.0%. Terreno Realty Corporation has the higher net margin (76.9% vs 40.5%) and the lower return on invested capital (2.42% vs 3.70%). Both pay a dividend; EastGroup Properties, Inc. yields more (2.80% vs 2.67%). Across the 22 metrics below, Terreno Realty Corporation leads on 16 and EastGroup Properties, Inc. on 6.

Valuation

Metric EGP TRNO Reit Industrial median
P/E 35.29 17.71 28.30
P/S 14.36 14.00 8.16
P/B 3.03 1.59 1.89
Price to free cash flow 14,028.51 n/m 21.44
EV/EBITDA 23.45 25.97 17.97
EV/Sales 16.45 15.87 11.71
Earnings yield 2.83% 5.65% 3.38%
Free cash flow yield 0.01% (9.75%) 2.71%

Profitability

Metric EGP TRNO Reit Industrial median
Gross margin 73.67% 76.17% 73.76%
Operating margin 40.54% 41.39% 39.85%
Net margin 40.47% 76.92% 28.04%
Free cash flow margin 0.10% (136.53%) 13.63%
Return on equity 8.73% 9.24% 6.83%
Return on assets 5.69% 7.23% 3.45%
Return on invested capital 3.70% 2.42% 2.92%

Growth

Metric EGP TRNO Reit Industrial median
Revenue growth (TTM) 10.98% 18.05% 3.86%
EPS growth (last fiscal year) 4.51% 103.65% —
Revenue growth, 5-year CAGR 14.72% 20.58% 13.33%
Net income growth, 5-year CAGR 18.89% 38.26% 9.91%

Health

Metric EGP TRNO Reit Industrial median
Debt to equity 0.45 0.22 0.84
Current ratio 0.16 0.43 0.78
Net debt to EBITDA 3.22 3.36 4.76

Dividend

Metric EGP TRNO Reit Industrial median
Dividend yield 2.80% 2.67% 3.14%
Payout ratio 1.34 0.87 1.14

Size

Metric EGP TRNO Reit Industrial median
Market cap 10.89b 7.24b 8.24b

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