WallStSmart

Federal Realty Investment Trust (FRT)vsRegency Centers Corporation (REG)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Regency Centers Corporation generates 26% more annual revenue ($1.61B vs $1.28B). REG leads profitability with a 32.7% profit margin vs 32.1%. REG appears more attractively valued with a PEG of 2.61. FRT earns a higher WallStSmart Score of 66/100 (B-).

FRT

Strong Buy

66

out of 100

Grade: B-

Growth: 7.3Profit: 8.0Value: 7.3Quality: 4.3
Piotroski: 4/9Altman Z: 0.59

REG

Strong Buy

65

out of 100

Grade: B-

Growth: 7.3Profit: 7.5Value: 7.3Quality: 4.3
Piotroski: 4/9Altman Z: 0.80
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FRTUndervalued (+49.7%)

Margin of Safety

+49.7%

Fair Value

$212.47

Current Price

$103.15

$109.32 discount

UndervaluedFair: $212.47Overvalued
REGUndervalued (+42.1%)

Margin of Safety

+42.1%

Fair Value

$131.98

Current Price

$74.87

$57.11 discount

UndervaluedFair: $131.98Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FRT4 strengths · Avg: 9.5/10
Profit MarginProfitability
32.1%10/10

Keeps 32 of every $100 in revenue as profit

Operating MarginProfitability
34.5%10/10

Strong operational efficiency at 34.5%

EPS GrowthGrowth
98.7%10/10

Earnings expanding 98.7% YoY

Price/BookValuation
2.9x8/10

Reasonable price relative to book value

REG4 strengths · Avg: 9.5/10
Profit MarginProfitability
32.7%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
38.8%10/10

Strong operational efficiency at 38.8%

EPS GrowthGrowth
141.9%10/10

Earnings expanding 141.9% YoY

Price/BookValuation
2.0x8/10

Reasonable price relative to book value

Areas to Watch

FRT2 concerns · Avg: 2.0/10
PEG RatioValuation
4.112/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.592/10

Distress zone — elevated risk

REG4 concerns · Avg: 2.8/10
P/E RatioValuation
26.6x4/10

Moderate valuation

Return on EquityProfitability
7.7%3/10

ROE of 7.7% — below average capital efficiency

PEG RatioValuation
2.612/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.802/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : FRT

The strongest argument for FRT centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 32.1% and operating margin at 34.5%.

Bull Case : REG

The strongest argument for REG centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 32.7% and operating margin at 38.8%.

Bear Case : FRT

The primary concerns for FRT are PEG Ratio, Altman Z-Score.

Bear Case : REG

The primary concerns for REG are P/E Ratio, Return on Equity, PEG Ratio.

Key Dynamics to Monitor

FRT carries more volatility with a beta of 1.01 — expect wider price swings.

REG is growing revenue faster at 8.9% — sustainability is the question.

REG generates stronger free cash flow (76M), providing more financial flexibility.

Monitor REIT - RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

FRT scores higher overall (66/100 vs 65/100), backed by strong 32.1% margins. REG offers better value entry with a 42.1% margin of safety. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Federal Realty Investment Trust

REAL ESTATE · REIT - RETAIL · USA

Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.

Regency Centers Corporation

REAL ESTATE · REIT - RETAIL · USA

Regency Centers Corporation is a real estate investment trust based in Jacksonville, Florida and is one of the largest operators of shopping centers with grocery stores as anchor tenants.

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