WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Regency Centers Corporation generates 76% more annual revenue ($1.65B vs $935.78M). NNN leads profitability with a 41.4% profit margin vs 33.1%. REG appears more attractively valued with a PEG of 2.70. REG earns a higher WallStSmart Score of 63/100 (C+).

NNN

Hold

50

out of 100

Grade: D+

Growth: 4.0Profit: 8.0Value: 6.0Quality: 3.0
Piotroski: 2/9Altman Z: 0.67

REG

Buy

63

out of 100

Grade: C+

Growth: 6.7Profit: 8.0Value: 6.0Quality: 5.0
Piotroski: 4/9Altman Z: 0.79
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NNNUndervalued (+39.4%)

Margin of Safety

+39.4%

Fair Value

$71.14

Current Price

$44.96

$26.18 discount

UndervaluedFair: $71.14Overvalued
REGUndervalued (+44.1%)

Margin of Safety

+44.1%

Fair Value

$136.81

Current Price

$77.72

$59.09 discount

UndervaluedFair: $136.81Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NNN3 strengths · Avg: 9.3/10
Profit MarginProfitability
41.4%10/10

Keeps 41 of every $100 in revenue as profit

Operating MarginProfitability
60.6%10/10

Strong operational efficiency at 60.6%

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

REG3 strengths · Avg: 9.3/10
Profit MarginProfitability
33.1%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
40.7%10/10

Strong operational efficiency at 40.7%

Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Areas to Watch

NNN4 concerns · Avg: 3.0/10
Revenue GrowthGrowth
4.1%4/10

4.1% revenue growth

Debt/EquityHealth
1.103/10

Elevated debt levels

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
4.802/10

Expensive relative to growth rate

REG3 concerns · Avg: 2.7/10
P/E RatioValuation
27.6x4/10

Moderate valuation

PEG RatioValuation
2.702/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.792/10

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 41.4% and operating margin at 60.6%.

Bull Case : REG

The strongest argument for REG centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 33.1% and operating margin at 40.7%.

Bear Case : NNN

The primary concerns for NNN are Revenue Growth, Debt/Equity, Piotroski F-Score.

Bear Case : REG

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

Key Dynamics to Monitor

NNN profiles as a value stock while REG is a mature play — different risk/reward profiles.

REG carries more volatility with a beta of 0.83 — expect wider price swings.

REG is growing revenue faster at 10.0% — sustainability is the question.

NNN generates stronger free cash flow (187M), providing more financial flexibility.

Bottom Line

REG scores higher overall (63/100 vs 50/100), backed by strong 33.1% margins. NNN offers better value entry with a 39.4% margin of safety. Both earn "Buy" and "Hold" 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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