Essex Property Trust, Inc. (ESS) vs Regency Centers Corporation (REG)
A side-by-side comparison of Essex Property Trust, Inc. and Regency Centers Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — ESS vs REG
growth of $100 · dividends reinvested · last 10yESS vs REG: by the numbers
- •ESS is the larger company ($17.74B vs $13.52B market cap).
- •REG converts more revenue to profit (38.24% vs 21.63% net margin).
- •REG grew revenue faster over the past five years (9.52% vs 6.01% CAGR).
- •REG pays the higher dividend yield (3.98% vs 3.78%).
Metrics side by side
Valuation
| Metric | ESS | REG |
|---|---|---|
| P/E ratio | 42.93 | 20.98 |
| Forward P/E | 48.85 | 29.57 |
| P/S ratio | 9.21 | 7.85 |
| P/B ratio | 3.33 | 1.97 |
| EV / EBITDA | 20.80 | 16.83 |
| FCF yield | 5.65% | 3.82% |
For REITs like Essex Property Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Regency Centers Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | ESS | REG |
|---|---|---|
| Gross margin | 69.38% | 44.66% |
| Operating margin | 43.88% | 40.33% |
| Net margin | 21.63% | 38.24% |
| ROE | 7.83% | 9.58% |
| ROIC | 4.34% | 5.29% |
Dividends
| Metric | ESS | REG |
|---|---|---|
| Dividend yield | 3.78% | 3.98% |
| Payout ratio | 160.50% | 84.14% |
Essex Property Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Regency Centers Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | ESS | REG |
|---|---|---|
| Revenue CAGR (5Y) | 6.01% | 9.52% |
| EPS CAGR (5Y) | 3.68% | 61.10% |
| FCF CAGR (5Y) | 8.10% | -3.16% |
| Total return CAGR (5Y) | 0.30% | 6.80% |
Frequently asked
- Which has grown faster, ESS or REG?
- Over the past five years, REG grew revenue faster — ESS at a 6.01% CAGR versus REG at 9.52%.
- Does ESS or REG pay a bigger dividend?
- ESS yields 3.78% and REG yields 3.98% based on trailing dividends and the latest price.
- Is ESS or REG more profitable?
- REG runs the higher net margin — ESS at 21.63% versus REG at 38.24%.
- How have ESS and REG total returns compared?
- Over the past 10 years, ESS delivered 5.62% and REG delivered 3.62% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Essex Property Trust & Regency Centers appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.