REGENCY CENTERS CORP (REG)
US7588491032 - REIT
We assign a fundamental rating of 4 out of 10 to REG. REG was compared to 126 industry peers in the Diversified REITs industry. REG has a medium profitability rating, but doesn't score so well on its financial health evaluation. REG is quite expensive at the moment. It does show a decent growth rate. Finally REG also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
REG had positive earnings in the past year.
REG had a positive operating cash flow in the past year.
Each year in the past 5 years REG has been profitable.
Each year in the past 5 years REG had a positive operating cash flow.
1.2 Ratios
The Return On Assets of REG (2.89%) is better than 74.80% of its industry peers.
Looking at the Return On Equity, with a value of 5.11%, REG is in the better half of the industry, outperforming 69.92% of the companies in the same industry.
REG has a Return On Invested Capital of 3.15%. This is in the better half of the industry: REG outperforms 62.60% of its industry peers.
REG had an Average Return On Invested Capital over the past 3 years of 3.43%. This is in line with the industry average of 2.95%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.89% | ||
| ROE | 5.11% | ||
| ROIC | 3.15% |
ROA(3y)3.56%
ROA(5y)2.65%
ROE(3y)6.34%
ROE(5y)4.72%
ROIC(3y)3.43%
ROIC(5y)3.02%
1.3 Margins
The Profit Margin of REG (27.18%) is better than 78.86% of its industry peers.
REG's Profit Margin has improved in the last couple of years.
REG has a Operating Margin of 35.40%. This is in the better half of the industry: REG outperforms 78.86% of its industry peers.
In the last couple of years the Operating Margin of REG has remained more or less at the same level.
The Gross Margin of REG (70.15%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of REG has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 35.4% | ||
| PM (TTM) | 27.18% | ||
| GM | 70.15% |
OM growth 3Y10.09%
OM growth 5Y0.86%
PM growth 3Y83.24%
PM growth 5Y4.11%
GM growth 3Y0.46%
GM growth 5Y-0.72%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so REG is destroying value.
The number of shares outstanding for REG has been increased compared to 1 year ago.
Compared to 5 years ago, REG has more shares outstanding
Compared to 1 year ago, REG has an improved debt to assets ratio.
2.2 Solvency
REG has an Altman-Z score of 1.22. This is a bad value and indicates that REG is not financially healthy and even has some risk of bankruptcy.
REG's Altman-Z score of 1.22 is amongst the best of the industry. REG outperforms 81.30% of its industry peers.
REG has a debt to FCF ratio of 9.70. This is a negative value and a sign of low solvency as REG would need 9.70 years to pay back of all of its debts.
REG's Debt to FCF ratio of 9.70 is amongst the best of the industry. REG outperforms 90.24% of its industry peers.
A Debt/Equity ratio of 0.59 indicates that REG is somewhat dependend on debt financing.
REG's Debt to Equity ratio of 0.59 is amongst the best of the industry. REG outperforms 82.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.59 | ||
| Debt/FCF | 9.7 | ||
| Altman-Z | 1.22 |
ROIC/WACC0.41
WACC7.59%
2.3 Liquidity
REG has a Current Ratio of 0.51. This is a bad value and indicates that REG is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.51, REG is not doing good in the industry: 82.93% of the companies in the same industry are doing better.
A Quick Ratio of 0.49 indicates that REG may have some problems paying its short term obligations.
With a Quick ratio value of 0.49, REG is not doing good in the industry: 84.55% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.49 |
3. Growth
3.1 Past
The earnings per share for REG have decreased strongly by -27.05% in the last year.
Measured over the past 5 years, REG shows a small growth in Earnings Per Share. The EPS has been growing by 7.02% on average per year.
Looking at the last year, REG shows a quite strong growth in Revenue. The Revenue has grown by 8.04% in the last year.
Measured over the past years, REG shows a small growth in Revenue. The Revenue has been growing by 3.36% on average per year.
EPS 1Y (TTM)-27.05%
EPS 3Y99.03%
EPS 5Y7.02%
EPS growth Q2Q-16.07%
Revenue 1Y (TTM)8.04%
Revenue growth 3Y9.18%
Revenue growth 5Y3.36%
Revenue growth Q2Q14.34%
3.2 Future
Based on estimates for the next years, REG will show a small growth in Earnings Per Share. The EPS will grow by 7.32% on average per year.
The Revenue is expected to grow by 6.03% on average over the next years.
EPS Next Y-4.96%
EPS Next 2Y2.46%
EPS Next 3Y5.43%
EPS Next 5Y7.32%
Revenue Next Year10.25%
Revenue Next 2Y6.78%
Revenue Next 3Y6.03%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
REG is valuated quite expensively with a Price/Earnings ratio of 29.08.
66.67% of the companies in the same industry are more expensive than REG, based on the Price/Earnings ratio.
REG's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.25.
A Price/Forward Earnings ratio of 30.59 indicates a quite expensive valuation of REG.
Based on the Price/Forward Earnings ratio, REG is valued a bit cheaper than the industry average as 76.42% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of REG to the average of the S&P500 Index (21.67), we can say REG is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.08 | ||
| Fwd PE | 30.59 |
4.2 Price Multiples
REG's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. REG is more expensive than 78.86% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, REG is valued a bit cheaper than the industry average as 61.79% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.72 | ||
| EV/EBITDA | 18.48 |
4.3 Compensation for Growth
REG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)4.14
EPS Next 2Y2.46%
EPS Next 3Y5.43%
5. Dividend
5.1 Amount
REG has a Yearly Dividend Yield of 4.64%, which is a nice return.
REG's Dividend Yield is comparable with the industry average which is at 6.13.
Compared to an average S&P500 Dividend Yield of 2.45, REG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.64% |
5.2 History
The dividend of REG has a limited annual growth rate of 3.01%.
REG has been paying a dividend for at least 10 years, so it has a reliable track record.
REG has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.01%
Div Incr Years10
Div Non Decr Years13
5.3 Sustainability
126.98% of the earnings are spent on dividend by REG. This is not a sustainable payout ratio.
REG's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP126.98%
EPS Next 2Y2.46%
EPS Next 3Y5.43%
REGENCY CENTERS CORP
NASDAQ:REG (4/24/2024, 7:25:50 PM)
After market: 59.61 0 (0%)59.61
-0.47 (-0.78%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap11.01B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.64% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.08 | ||
| Fwd PE | 30.59 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)4.14
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.89% | ||
| ROE | 5.11% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 35.4% | ||
| PM (TTM) | 27.18% | ||
| GM | 70.15% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.59 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.49 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-27.05%
EPS 3Y99.03%
EPS 5Y
EPS growth Q2Q
EPS Next Y-4.96%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)8.04%
Revenue growth 3Y9.18%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y