Using the industry peer median P/E multiple (trailing + forward), Regency Centers Corporation (REG) has a fair value of $74.44 based on 4 comparable companies in the REIT - Retail industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Regency Centers CorporationREG | 13,575 | 26.4x | 30.6x |
| Simon Property Group, Inc.SPG | 59,029 | 12.8x | 27.0x |
| Realty Income CorporationO | 56,333 | 51.6x | 37.0x |
| Kimco Realty CorporationKIM | 15,145 | 26.9x | 28.4x |
| Federal Realty Investment TrustFRT | 8,977 | 21.7x | 36.0x |
| Industry Median | 24.3x | 32.2x | |
| (*) Profit after tax | 527 | 444 | |
| Equity Value | 12,835 | 14,296 | |
| (/) Outstanding shares | 182 | 182 | |
| Fair Price | $70 | $78 | |
This P/E relative valuation uses the industry peer median Price-to-Earnings ratio to estimate fair value. Both trailing (last 12 months) and forward (next fiscal year analyst estimates) P/E multiples are computed independently.
The industry median trailing P/E is applied to the company's TTM net income, and the forward P/E to analyst-estimated net income. Each produces an equity value divided by shares outstanding to yield a fair price per share. The selected fair value is the average of the trailing and forward legs.