Federal Realty Investment Trust (FRT) vs Regency Centers Corporation (REG)

Federal Realty Investment Trust and Regency Centers Corporation are both Reit Retail companies. Regency Centers Corporation is the larger, with a market value of $13.4B against $9.7B — 1.4× the size. Federal Realty Investment Trust trades at the lower P/E: 22.2× against 24.8×. Regency Centers Corporation grew revenue faster over the last twelve months: 8.24% against 8.04%. Regency Centers Corporation has the higher net margin (33.5% vs 32.0%) and the lower return on invested capital (3.17% vs 4.93%). Both pay a dividend; Regency Centers Corporation yields more (4.32% vs 4.26%). Across the 23 metrics below, Federal Realty Investment Trust leads on 15 and Regency Centers Corporation on 8.

Valuation

Metric FRT REG Reit Retail median
P/E 22.24 24.82 24.82
P/S 7.13 8.29 6.69
P/B 2.91 1.94 1.75
Price to free cash flow 28.94 37.19 13.29
EV/EBITDA 13.78 17.76 15.42
EV/Sales 10.63 11.19 10.60
Earnings yield 4.50% 4.03% 3.91%
Free cash flow yield 3.46% 2.69% 2.98%

Profitability

Metric FRT REG Reit Retail median
Gross margin 67.53% 70.35% 71.78%
Operating margin 47.86% 37.11% 34.62%
Net margin 31.97% 33.54% 27.14%
Free cash flow margin 24.65% 22.29% 18.82%
Return on equity 13.27% 8.01% 7.05%
Return on assets 4.83% 4.20% 3.40%
Return on invested capital 4.93% 3.17% 3.18%

Growth

Metric FRT REG Reit Retail median
Revenue growth (TTM) 8.04% 8.24% 8.49%
EPS growth (last fiscal year) 36.84% 33.65% —
Revenue growth, 5-year CAGR 8.89% 8.86% 8.62%
Net income growth, 5-year CAGR 26.57% 62.83% 1.85%

Health

Metric FRT REG Reit Retail median
Debt to equity 1.39 0.69 0.94
Current ratio 1.70 1.25 1.62
Net debt to EBITDA 5.00 4.69 5.40

Dividend

Metric FRT REG Reit Retail median
Dividend yield 4.26% 4.32% 4.57%
Payout ratio 0.92 1.20 1.21

Size

Metric FRT REG Reit Retail median
Market cap 9.65b 13.35b 3.65b

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