Realty Income Corporation (O) vs Regency Centers Corporation (REG)

Realty Income Corporation and Regency Centers Corporation are both Reit Retail companies. Realty Income Corporation is the larger, with a market value of $52.5B against $13.4B — 3.9× the size. Regency Centers Corporation trades at the lower P/E: 24.8× against 40.5×. Realty Income Corporation grew revenue faster over the last twelve months: 10.9% against 8.24%. Regency Centers Corporation has the higher net margin (33.5% vs 20.9%) and the higher return on invested capital (3.17% vs 1.13%). Both pay a dividend; Realty Income Corporation yields more (5.74% vs 4.32%). Across the 22 metrics below, Regency Centers Corporation leads on 16 and Realty Income Corporation on 6.

Valuation

Metric O REG Reit Retail median
P/E 40.54 24.82 24.82
P/S 8.55 8.29 6.69
P/B 1.23 1.94 1.75
Price to free cash flow n/m 37.19 13.29
EV/EBITDA 19.99 17.76 15.42
EV/Sales 12.72 11.19 10.60
Earnings yield 2.47% 4.03% 3.91%
Free cash flow yield (2.12%) 2.69% 2.98%

Profitability

Metric O REG Reit Retail median
Gross margin 92.67% 70.35% 71.78%
Operating margin 20.11% 37.11% 34.62%
Net margin 20.93% 33.54% 27.14%
Free cash flow margin (18.16%) 22.29% 18.82%
Return on equity 3.12% 8.01% 7.05%
Return on assets 1.71% 4.20% 3.40%
Return on invested capital 1.13% 3.17% 3.18%

Growth

Metric O REG Reit Retail median
Revenue growth (TTM) 10.85% 8.24% 8.49%
EPS growth (last fiscal year) 19.39% 33.65% —
Revenue growth, 5-year CAGR 28.40% 8.86% 8.62%
Net income growth, 5-year CAGR 21.76% 62.83% 1.85%

Health

Metric O REG Reit Retail median
Debt to equity 0.73 0.69 0.94
Current ratio 5.88 1.25 1.62
Net debt to EBITDA 7.98 4.69 5.40

Dividend

Metric O REG Reit Retail median
Dividend yield 5.74% 4.32% 4.57%
Payout ratio 2.25 1.20 1.21

Size

Metric O REG Reit Retail median
Market cap 52.53b 13.35b 3.65b

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