Kite Realty Group Trust (KRG) vs Macerich Company (The) (MAC)

Kite Realty Group Trust and Macerich Company (The) are both Reit Retail companies. Macerich Company (The) is the larger, with a market value of $6.7B against $5.0B — 1.3× the size. Macerich Company (The) has negative trailing earnings, so its P/E is not meaningful; Kite Realty Group Trust trades at 15.2×. Macerich Company (The) grew revenue faster over the last twelve months: 1.34% against −5.31%. Kite Realty Group Trust has the higher net margin (41.8% vs −16.9%) and the higher return on invested capital (4.76% vs 1.38%). Both pay a dividend; Kite Realty Group Trust yields more (4.49% vs 4.07%). Across the 20 metrics below, Kite Realty Group Trust leads on 18 and Macerich Company (The) on 2.

Valuation

Metric KRG MAC Reit Retail median
P/E 15.20 n/m 24.82
P/S 6.21 6.16 6.69
P/B 1.75 2.13 1.75
Price to free cash flow 5.32 n/m 13.29
EV/EBITDA 10.14 19.02 15.42
EV/Sales 9.56 10.67 10.60
Earnings yield 6.58% (2.87%) 3.91%
Free cash flow yield 18.80% (1.63%) 2.98%

Profitability

Metric KRG MAC Reit Retail median
Gross margin 73.18% 53.96% 71.78%
Operating margin 52.56% 16.30% 34.62%
Net margin 41.81% (16.85%) 27.14%
Free cash flow margin 116.74% (10.04%) 18.82%
Return on equity 10.90% (6.09%) 7.05%
Return on assets 5.14% (1.97%) 3.40%
Return on invested capital 4.76% 1.38% 3.18%

Growth

Metric KRG MAC Reit Retail median
Revenue growth (TTM) (5.31%) 1.34% 8.49%
EPS growth (last fiscal year) 6,750.00% 11.36% —
Revenue growth, 5-year CAGR 25.93% 5.22% 8.62%
Net income growth, 5-year CAGR 0.00% 0.00% 1.85%

Health

Metric KRG MAC Reit Retail median
Debt to equity 0.99 1.67 0.94
Current ratio 1.61 0.88 1.62
Net debt to EBITDA 3.73 8.03 5.40

Dividend

Metric KRG MAC Reit Retail median
Dividend yield 4.49% 4.07% 4.57%
Payout ratio 7.23 2.50 1.21

Size

Metric KRG MAC Reit Retail median
Market cap 4.95b 6.68b 3.65b

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