WallStSmart

NNN REIT, Inc. (NNN)vsRegency Centers Corporation (REG)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Regency Centers Corporation generates 77% more annual revenue ($1.69B vs $953.25M). NNN leads profitability with a 40.4% profit margin vs 33.0%. REG appears more attractively valued with a PEG of 2.70. REG earns a higher WallStSmart Score of 59/100 (C).

NNN

Buy

54

out of 100

Grade: C-

Growth: 4.7Profit: 8.0Value: 6.0Quality: 3.0
Piotroski: 2/9Altman Z: 0.67

REG

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 8.0Value: 6.0Quality: 5.5
Piotroski: 4/9Altman Z: 0.83
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NNNUndervalued (+39.6%)

Margin of Safety

+39.6%

Fair Value

$71.36

Current Price

$43.87

$27.49 discount

UndervaluedFair: $71.36Overvalued
REGUndervalued (+44.3%)

Margin of Safety

+44.3%

Fair Value

$137.30

Current Price

$74.62

$62.68 discount

UndervaluedFair: $137.30Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NNN3 strengths · Avg: 9.3/10
Profit MarginProfitability
40.4%10/10

Keeps 40 of every $100 in revenue as profit

Operating MarginProfitability
61.7%10/10

Strong operational efficiency at 61.7%

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

REG3 strengths · Avg: 9.3/10
Profit MarginProfitability
33.0%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
39.6%10/10

Strong operational efficiency at 39.6%

Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Areas to Watch

NNN4 concerns · Avg: 2.5/10
Debt/EquityHealth
1.123/10

Elevated debt levels

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
4.802/10

Expensive relative to growth rate

EPS GrowthGrowth
-3.7%2/10

Earnings declined 3.7%

REG3 concerns · Avg: 2.7/10
P/E RatioValuation
25.4x4/10

Moderate valuation

PEG RatioValuation
2.702/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.832/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : NNN

The strongest argument for NNN centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 40.4% and operating margin at 61.7%.

Bull Case : REG

The strongest argument for REG centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 33.0% and operating margin at 39.6%.

Bear Case : NNN

The primary concerns for NNN are Debt/Equity, Piotroski F-Score, PEG Ratio.

Bear Case : REG

The primary concerns for REG are P/E Ratio, PEG Ratio, Altman Z-Score.

Key Dynamics to Monitor

REG carries more volatility with a beta of 0.81 — expect wider price swings.

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

REG generates stronger free cash flow (174M), providing more financial flexibility.

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

Bottom Line

REG scores higher overall (59/100 vs 54/100), backed by strong 33.0% margins. NNN offers better value entry with a 39.6% margin of safety. Both earn "Buy" and "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.

NNN REIT, Inc.

REAL ESTATE · REIT - RETAIL · USA

National Retail Properties invests primarily in high-quality retail properties generally subject to long-term net leases.

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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