WallStSmart

Realty Income Corporation (O)vsTanger Factory Outlet Centers Inc (SKT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Realty Income Corporation generates 843% more annual revenue ($5.76B vs $611.24M). SKT leads profitability with a 20.3% profit margin vs 18.4%. SKT appears more attractively valued with a PEG of 4.14. SKT earns a higher WallStSmart Score of 65/100 (B-).

O

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 6.5Value: 3.3Quality: 4.3
Piotroski: 3/9Altman Z: 0.77

SKT

Strong Buy

65

out of 100

Grade: B-

Growth: 7.3Profit: 8.0Value: 5.3Quality: 3.8
Piotroski: 5/9Altman Z: 0.41
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

OUndervalued (+1.8%)

Margin of Safety

+1.8%

Fair Value

$65.71

Current Price

$61.92

$3.79 discount

UndervaluedFair: $65.71Overvalued
SKTUndervalued (+41.9%)

Margin of Safety

+41.9%

Fair Value

$58.22

Current Price

$36.37

$21.85 discount

UndervaluedFair: $58.22Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

O4 strengths · Avg: 9.3/10
Price/BookValuation
1.5x10/10

Reasonable price relative to book value

Operating MarginProfitability
47.0%10/10

Strong operational efficiency at 47.0%

Market CapQuality
$57.62B9/10

Large-cap with strong market position

EPS GrowthGrowth
41.2%8/10

Earnings expanding 41.2% YoY

SKT3 strengths · Avg: 9.0/10
Operating MarginProfitability
30.3%10/10

Strong operational efficiency at 30.3%

Profit MarginProfitability
20.3%9/10

Keeps 20 of every $100 in revenue as profit

EPS GrowthGrowth
42.0%8/10

Earnings expanding 42.0% YoY

Areas to Watch

O4 concerns · Avg: 2.5/10
Return on EquityProfitability
2.7%3/10

ROE of 2.7% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
5.682/10

Expensive relative to growth rate

P/E RatioValuation
50.6x2/10

Premium valuation, high expectations priced in

SKT3 concerns · Avg: 2.7/10
P/E RatioValuation
34.3x4/10

Premium valuation, high expectations priced in

PEG RatioValuation
4.142/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.412/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : O

The strongest argument for O centers on Price/Book, Operating Margin, Market Cap. Profitability is solid with margins at 18.4% and operating margin at 47.0%. Revenue growth of 11.0% demonstrates continued momentum.

Bull Case : SKT

The strongest argument for SKT centers on Operating Margin, Profit Margin, EPS Growth. Profitability is solid with margins at 20.3% and operating margin at 30.3%. Revenue growth of 11.7% demonstrates continued momentum.

Bear Case : O

The primary concerns for O are Return on Equity, Piotroski F-Score, PEG Ratio. A P/E of 50.6x leaves little room for execution misses.

Bear Case : SKT

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

Key Dynamics to Monitor

SKT carries more volatility with a beta of 1.12 — expect wider price swings.

SKT is growing revenue faster at 11.7% — sustainability is the question.

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

Bottom Line

SKT scores higher overall (65/100 vs 64/100), backed by strong 20.3% margins and 11.7% revenue growth. 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.

Realty Income Corporation

REAL ESTATE · REIT - RETAIL · USA

Realty Income Corporation is a real estate investment trust that invests in free-standing, single-tenant commercial properties in the United States, Puerto Rico, and the United Kingdom that are subject to NNN Leases. The company is organized in Maryland with its headquarters in San Diego, California.

Tanger Factory Outlet Centers Inc

REAL ESTATE · REIT - RETAIL · USA

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of luxury outdoor outlet shopping centers that owns or has an ownership interest in a portfolio of 38 centers.

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