Annaly Capital Management, Inc. (NLY) vs Regency Centers Corporation (REG)
A side-by-side comparison of Annaly Capital Management, Inc. and Regency Centers Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 2, 2026. Differences are shown without an overall score or investment verdict.
Total return — NLY vs REG
growth of $100 · dividends reinvested · last 10yNLY vs REG: by the numbers
- •NLY is the larger company ($13.94B vs $13.08B market cap).
- •NLY converts more revenue to profit (40.52% vs 38.24% net margin).
- •NLY grew revenue faster over the past five years (22.35% vs 9.52% CAGR).
- •NLY pays the higher dividend yield (15.27% vs 4.21%).
Metrics side by side
Valuation
| Metric | NLY | REG |
|---|---|---|
| P/E ratio | 4.63 | 20.28 |
| Forward P/E | 5.98 | 28.76 |
| PEG ratio | N/A | 0.33 |
| P/S ratio | 1.91 | 7.59 |
| P/B ratio | 0.82 | 1.90 |
| EV / EBITDA | 16.67 | 16.43 |
| FCF yield | N/A | 3.95% |
For REITs like Annaly Capital Management, 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 | NLY | REG |
|---|---|---|
| Gross margin | 99.28% | 44.66% |
| Operating margin | 102.58% | 40.33% |
| Net margin | 40.52% | 38.24% |
| ROE | 17.44% | 9.58% |
| ROIC | 5.74% | 5.29% |
Dividends
| Metric | NLY | REG |
|---|---|---|
| Dividend yield | 15.27% | 4.21% |
| Payout ratio | 71.25% | 85.55% |
Annaly Capital Management, 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 | NLY | REG |
|---|---|---|
| Revenue CAGR (5Y) | 22.35% | 9.52% |
| EPS CAGR (5Y) | N/A | 61.10% |
| FCF CAGR (5Y) | N/A | -3.16% |
| Total return CAGR (5Y) | 1.94% | 4.86% |
Frequently asked
- Which has grown faster, NLY or REG?
- Over the past five years, NLY grew revenue faster — NLY at a 22.35% CAGR versus REG at 9.52%.
- Does NLY or REG pay a bigger dividend?
- NLY yields 15.27% and REG yields 4.21% based on trailing dividends and the latest price.
- Is NLY or REG more profitable?
- NLY runs the higher net margin — NLY at 40.52% versus REG at 38.24%.
- How have NLY and REG total returns compared?
- Over the past 10 years, NLY delivered 4.54% and REG delivered 3.21% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Annaly Capital Management & 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 October 2, 2026.