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 $56.6B against $9.8B — 5.8× the size. Federal Realty Investment Trust trades at the lower P/E: 22.3× against 40.2×. Realty Income Corporation grew revenue faster over the last twelve months: 10.8% against 7.77%. Federal Realty Investment Trust has the higher net margin (31.9% vs 21.9%) and the higher return on invested capital (4.97% vs 1.16%). Both pay a dividend; Realty Income Corporation yields more (5.47% vs 4.02%). 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 22.30 40.19 24.06
P/S 7.25 9.03 7.25
P/B 3.10 1.32 1.77
Price to free cash flow 28.85 n/m 17.80
EV/EBITDA 13.99 20.87 15.96
EV/Sales 10.79 13.22 10.99
Earnings yield 4.48% 2.49% 4.16%
Free cash flow yield 3.47% (3.51%) 3.05%

Profitability

Metric FRT O Reit Retail median
Gross margin 67.68% 92.59% 71.84%
Operating margin 47.72% 20.48% 36.94%
Net margin 31.91% 21.85% 29.40%
Free cash flow margin 25.12% (31.73%) 21.18%
Return on equity 13.73% 3.31% 7.18%
Return on assets 4.80% 1.82% 3.65%
Return on invested capital 4.97% 1.16% 3.22%

Growth

Metric FRT O Reit Retail median
Revenue growth (TTM) 7.77% 10.79% 8.64%
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 1.48 0.74 0.88
Current ratio 1.53 6.04 1.24
Net debt to EBITDA 5.00 7.98 5.40

Dividend

Metric FRT O Reit Retail median
Dividend yield 4.02% 5.47% 4.14%
Payout ratio 0.90 2.20 1.07

Size

Metric FRT O Reit Retail median
Market cap 9.80b 56.58b 4.04b

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