WallStSmart

National Retail Properties Inc (NNN)vsRegency Centers Corporation (REG)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Regency Centers Corporation generates 74% more annual revenue ($1.61B vs $926.21M). NNN leads profitability with a 42.1% profit margin vs 32.7%. REG appears more attractively valued with a PEG of 2.61. REG earns a higher WallStSmart Score of 65/100 (B-).

NNN

Buy

54

out of 100

Grade: C-

Growth: 4.7Profit: 8.0Value: 4.7Quality: 3.3
Piotroski: 3/9Altman Z: 0.78

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

NNNSignificantly Overvalued (-206.0%)

Margin of Safety

-206.0%

Fair Value

$14.08

Current Price

$41.99

$27.91 premium

UndervaluedFair: $14.08Overvalued
REGUndervalued (+42.1%)

Margin of Safety

+42.1%

Fair Value

$131.98

Current Price

$74.43

$57.55 discount

UndervaluedFair: $131.98Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NNN3 strengths · Avg: 9.3/10
Profit MarginProfitability
42.1%10/10

Keeps 42 of every $100 in revenue as profit

Operating MarginProfitability
62.2%10/10

Strong operational efficiency at 62.2%

Price/BookValuation
1.8x8/10

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

NNN4 concerns · Avg: 2.3/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
4.802/10

Expensive relative to growth rate

EPS GrowthGrowth
-2.2%2/10

Earnings declined 2.2%

Free Cash FlowQuality
$-810.91M2/10

Negative free cash flow — burning cash

REG4 concerns · Avg: 2.8/10
P/E RatioValuation
26.4x4/10

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 : NNN

The strongest argument for NNN centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 42.1% and operating margin at 62.2%.

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 : NNN

The primary concerns for NNN are Piotroski F-Score, PEG Ratio, EPS Growth.

Bear Case : REG

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

Key Dynamics to Monitor

REG carries more volatility with a beta of 0.93 — expect wider price swings.

NNN is growing revenue faster at 9.1% — 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

REG scores higher overall (65/100 vs 54/100), backed by strong 32.7% margins. Both earn "Strong 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.

National Retail Properties 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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