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 $56.6B against $14.0B — 4.1× the size. Regency Centers Corporation trades at the lower P/E: 25.8× against 40.2×. Realty Income Corporation grew revenue faster over the last twelve months: 10.8% against 8.24%. Regency Centers Corporation has the higher net margin (33.5% vs 21.9%) and the higher return on invested capital (3.17% vs 1.16%). Both pay a dividend; Realty Income Corporation yields more (5.47% vs 3.97%). 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 40.19 25.80 24.06
P/S 9.03 8.62 7.25
P/B 1.32 2.01 1.77
Price to free cash flow n/m 38.66 17.80
EV/EBITDA 20.87 18.28 15.96
EV/Sales 13.22 11.52 10.99
Earnings yield 2.49% 3.88% 4.16%
Free cash flow yield (3.51%) 2.59% 3.05%

Profitability

Metric O REG Reit Retail median
Gross margin 92.59% 70.35% 71.84%
Operating margin 20.48% 37.11% 36.94%
Net margin 21.85% 33.54% 29.40%
Free cash flow margin (31.73%) 22.29% 21.18%
Return on equity 3.31% 8.01% 7.18%
Return on assets 1.82% 4.20% 3.65%
Return on invested capital 1.16% 3.17% 3.22%

Growth

Metric O REG Reit Retail median
Revenue growth (TTM) 10.79% 8.24% 8.64%
EPS growth (last fiscal year) 19.39% 33.65% 16.00%
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 0.74 0.69 0.88
Current ratio 6.04 1.25 1.24
Net debt to EBITDA 7.98 4.69 5.40

Dividend

Metric O REG Reit Retail median
Dividend yield 5.47% 3.97% 4.14%
Payout ratio 2.20 1.02 1.07

Size

Metric O REG Reit Retail median
Market cap 56.58b 13.97b 4.04b

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