Federal Realty Investment Trust (FRT) vs Realty Income Corporation (O)

Federal Realty Investment Trust and Realty Income Corporation are both Reit Retail companies. Realty Income Corporation is the larger, with a market value of $52.6B against $9.2B — 5.7× the size. Federal Realty Investment Trust trades at the lower P/E: 21.4× against 40.9×. Realty Income Corporation grew revenue faster over the last twelve months: 10.9% against 8.04%. Federal Realty Investment Trust has the higher net margin (32.0% vs 20.9%) and the higher return on invested capital (4.93% vs 1.13%). Both pay a dividend; Realty Income Corporation yields more (5.79% vs 4.28%). Across the 22 metrics below, Federal Realty Investment Trust leads on 15 and Realty Income Corporation on 7.

Valuation

Metric FRT O Reit Retail median
P/E 21.39 40.92 25.89
P/S 6.86 8.63 6.86
P/B 2.80 1.25 1.73
Price to free cash flow 27.84 n/m 14.23
EV/EBITDA 13.43 20.11 15.33
EV/Sales 10.36 12.80 10.49
Earnings yield 4.67% 2.44% 3.87%
Free cash flow yield 3.59% (2.10%) 2.98%

Profitability

Metric FRT O Reit Retail median
Gross margin 67.53% 92.67% 71.78%
Operating margin 47.86% 20.11% 34.62%
Net margin 31.97% 20.93% 27.14%
Free cash flow margin 24.65% (18.16%) 18.82%
Return on equity 13.27% 3.12% 7.05%
Return on assets 4.83% 1.71% 3.40%
Return on invested capital 4.93% 1.13% 3.18%

Growth

Metric FRT O Reit Retail median
Revenue growth (TTM) 8.04% 10.85% 8.49%
EPS growth (last fiscal year) 36.84% 19.39% 16.00%
Revenue growth, 5-year CAGR 8.89% 28.40% 8.62%
Net income growth, 5-year CAGR 26.57% 21.76% 1.85%

Health

Metric FRT O Reit Retail median
Debt to equity 1.39 0.73 0.94
Current ratio 1.70 5.88 1.62
Net debt to EBITDA 5.00 7.98 5.40

Dividend

Metric FRT O Reit Retail median
Dividend yield 4.28% 5.79% 4.45%
Payout ratio 0.92 2.37 1.21

Size

Metric FRT O Reit Retail median
Market cap 9.24b 52.56b 3.56b

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