CBL
CBL & Associates Properties, Inc.
REIT - Retail
Market Cap$1.37B
5Y Perf.+42.5%
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Stock Comparison
CBL vs REG
Revenue, margins, valuation, and 5-year total return — side by side.
REG
Regency Centers Corporation
REIT - Retail
Market Cap$14.48B
5Y Perf.+14.0%
CBL vs REG — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CBL | REG |
|---|---|---|
| Industry | REIT - Retail | REIT - Retail |
| Market Cap | $1.37B | $14.48B |
| Revenue (TTM) | $578M | $1.68B |
| Net Income (TTM) | $136M | $630M |
| Gross Margin | 7.6% | 60.5% |
| Operating Margin | 24.2% | 54.0% |
| Forward P/E | 48.0x | 32.6x |
| Total Debt | $2.17B | $5.94B |
| Cash & Equiv. | $42M | $121M |
CBL vs REG — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CBL
REG
| Stock | Nov 21 | May 26 | Return |
|---|---|---|---|
| CBL & Associates Pr… (CBL) | 100 | 142.5 | +42.5% |
| Regency Centers Cor… (REG) | 100 | 114.0 | +14.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CBL vs REG
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CBL leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and dividend income and shareholder returns. Regency Centers Corporation is the stronger pick specifically for valuation and capital efficiency and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
CBL
CBL & Associates Properties, Inc.
The Real Estate Income Play
CBL carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 12.2%, EPS growth 132.1%, 3Y rev CAGR 0.9%
- 79.0% 10Y total return vs REG's 31.9%
- Beta 0.68, yield 5.7%, current ratio 2.55x
Best for: growth exposure and long-term compounding
REG
Regency Centers Corporation
The Real Estate Income Play
REG is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 5 yrs, beta 0.36, yield 3.5%
- Lower volatility, beta 0.36, Low D/E 82.7%, current ratio 1.05x
- Lower P/E (32.6x vs 48.0x)
Best for: income & stability and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CBL | 12.2% FFO/revenue growth vs REG's 3.4% |
| Value | REG | Lower P/E (32.6x vs 48.0x) |
| Quality / Margins | REG | 37.4% margin vs CBL's 23.5% |
| Stability / Safety | REG | Beta 0.36 vs CBL's 0.68, lower leverage |
| Dividends | CBL | 5.7% yield, 1-year raise streak, vs REG's 3.5% |
| Momentum (1Y) | CBL | +91.5% vs REG's +13.9% |
| Efficiency (ROA) | CBL | 5.1% ROA vs REG's 4.9%, ROIC 4.2% vs 3.5% |
CBL vs REG — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
CBL vs REG — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCBLLAGGINGREG
REGRegency Centers Corpo…
2leads
CBLCBL & Associates Prop…
3leads
6 Total Categories
CATEGORYLEADERvs REGMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
REG5/6
Valuation MetricsMultiples, price ratios, and targets
CBL4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CBL7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CBL6/6
Risk & VolatilityBeta, volatility, and downside exposure
REG2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
REG leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
REG is the larger business by revenue, generating $1.7B annually — 2.9x CBL's $578M. REG is the more profitable business, keeping 37.4% of every revenue dollar as net income compared to CBL's 23.5%. On growth, REG holds the edge at +31.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| RevenueTrailing 12 months | $578M | $1.7B |
| EBITDAEarnings before interest/tax | $305M | $1.3B |
| Net IncomeAfter-tax profit | $136M | $630M |
| Free Cash FlowCash after capex | $255M | $700M |
| Gross MarginGross profit ÷ Revenue | +7.6% | +60.5% |
| Operating MarginEBIT ÷ Revenue | +24.2% | +54.0% |
| Net MarginNet income ÷ Revenue | +23.5% | +37.4% |
| FCF MarginFCF ÷ Revenue | +44.1% | +41.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.8% | +31.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +27.9% | +2.6% |
REG leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
CBL leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 10.2x trailing earnings, CBL trades at a 64% valuation discount to REG's 28.0x P/E. On an enterprise value basis, CBL's 11.5x EV/EBITDA is more attractive than REG's 20.7x.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| Market CapShares × price | $1.4B | $14.5B |
| Enterprise ValueMkt cap + debt − cash | $3.5B | $20.3B |
| Trailing P/EPrice ÷ TTM EPS | 10.17x | 28.04x |
| Forward P/EPrice ÷ next-FY EPS est. | 47.98x | 32.56x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.46x |
| EV / EBITDAEnterprise value multiple | 11.46x | 20.70x |
| Price / SalesMarket cap ÷ Revenue | 2.36x | 9.32x |
| Price / BookPrice ÷ Book value/share | 3.73x | 2.01x |
| Price / FCFMarket cap ÷ FCF | 19.03x | 36.75x |
CBL leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
CBL leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
CBL delivers a 42.9% return on equity — every $100 of shareholder capital generates $43 in annual profit, vs $9 for REG. REG carries lower financial leverage with a 0.83x debt-to-equity ratio, signaling a more conservative balance sheet compared to CBL's 5.95x. On the Piotroski fundamental quality scale (0–9), CBL scores 7/9 vs REG's 6/9, reflecting strong financial health.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| ROE (TTM)Return on equity | +42.9% | +9.0% |
| ROA (TTM)Return on assets | +5.1% | +4.9% |
| ROICReturn on invested capital | +4.2% | +3.5% |
| ROCEReturn on capital employed | +5.5% | +4.7% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | 5.95x | 0.83x |
| Net DebtTotal debt minus cash | $2.1B | $5.8B |
| Cash & Equiv.Liquid assets | $42M | $121M |
| Total DebtShort + long-term debt | $2.2B | $5.9B |
| Interest CoverageEBIT ÷ Interest expense | 1.77x | 2.72x |
CBL leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CBL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CBL five years ago would be worth $17,905 today (with dividends reinvested), compared to $14,475 for REG. Over the past 12 months, CBL leads with a +91.5% total return vs REG's +13.9%. The 3-year compound annual growth rate (CAGR) favors CBL at 30.9% vs REG's 13.6% — a key indicator of consistent wealth creation.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| YTD ReturnYear-to-date | +21.2% | +17.5% |
| 1-Year ReturnPast 12 months | +91.5% | +13.9% |
| 3-Year ReturnCumulative with dividends | +124.4% | +46.4% |
| 5-Year ReturnCumulative with dividends | +79.1% | +44.8% |
| 10-Year ReturnCumulative with dividends | +79.0% | +31.9% |
| CAGR (3Y)Annualised 3-year return | +30.9% | +13.6% |
CBL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
REG leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
REG is the less volatile stock with a 0.36 beta — it tends to amplify market swings less than CBL's 0.68 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 0.36x |
| 52-Week HighHighest price in past year | $45.86 | $81.66 |
| 52-Week LowLowest price in past year | $23.92 | $66.86 |
| % of 52W HighCurrent price vs 52-week peak | +96.2% | +96.8% |
| RSI (14)Momentum oscillator 0–100 | 58.7 | 51.7 |
| Avg Volume (50D)Average daily shares traded | 172K | 1.3M |
REG leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — CBL and REG each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates CBL as "Hold" and REG as "Buy". For income investors, CBL offers the higher dividend yield at 5.66% vs REG's 3.55%.
| Metric | CBLCBL & Associates … | REGRegency Centers C… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | — | $80.14 |
| # AnalystsCovering analysts | 22 | 32 |
| Dividend YieldAnnual dividend ÷ price | +5.7% | +3.5% |
| Dividend StreakConsecutive years of raises | 1 | 5 |
| Dividend / ShareAnnual DPS | $2.50 | $2.81 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | +0.1% |
Evenly matched — CBL and REG each lead in 1 of 2 comparable metrics.
Key Takeaway
CBL leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). REG leads in 2 (Income & Cash Flow, Risk & Volatility). 1 tied.
Best OverallCBL & Associates Properties… (CBL)Leads 3 of 6 categories
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CBL vs REG: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is CBL or REG a better buy right now?
For growth investors, CBL & Associates Properties, Inc.
(CBL) is the stronger pick with 12. 2% revenue growth year-over-year, versus 3. 4% for Regency Centers Corporation (REG). CBL & Associates Properties, Inc. (CBL) offers the better valuation at 10. 2x trailing P/E (48. 0x forward), making it the more compelling value choice. Analysts rate Regency Centers Corporation (REG) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CBL or REG?
On trailing P/E, CBL & Associates Properties, Inc.
(CBL) is the cheapest at 10. 2x versus Regency Centers Corporation at 28. 0x. On forward P/E, Regency Centers Corporation is actually cheaper at 32. 6x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — CBL or REG?
Over the past 5 years, CBL & Associates Properties, Inc.
(CBL) delivered a total return of +79. 1%, compared to +44. 8% for Regency Centers Corporation (REG). Over 10 years, the gap is even starker: CBL returned +79. 0% versus REG's +31. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CBL or REG?
By beta (market sensitivity over 5 years), Regency Centers Corporation (REG) is the lower-risk stock at 0.
36β versus CBL & Associates Properties, Inc. 's 0. 68β — meaning CBL is approximately 86% more volatile than REG relative to the S&P 500. On balance sheet safety, Regency Centers Corporation (REG) carries a lower debt/equity ratio of 83% versus 6% for CBL & Associates Properties, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CBL or REG?
By revenue growth (latest reported year), CBL & Associates Properties, Inc.
(CBL) is pulling ahead at 12. 2% versus 3. 4% for Regency Centers Corporation (REG). On earnings-per-share growth, the picture is similar: CBL & Associates Properties, Inc. grew EPS 132. 1% year-over-year, compared to 33. 6% for Regency Centers Corporation. Over a 3-year CAGR, REG leads at 6. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CBL or REG?
Regency Centers Corporation (REG) is the more profitable company, earning 33.
9% net margin versus 23. 5% for CBL & Associates Properties, Inc. — meaning it keeps 33. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: REG leads at 37. 0% versus 24. 2% for CBL. At the gross margin level — before operating expenses — REG leads at 44. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CBL or REG more undervalued right now?
On forward earnings alone, Regency Centers Corporation (REG) trades at 32.
6x forward P/E versus 48. 0x for CBL & Associates Properties, Inc. — 15. 4x cheaper on a one-year earnings basis.
08Which pays a better dividend — CBL or REG?
All stocks in this comparison pay dividends.
CBL & Associates Properties, Inc. (CBL) offers the highest yield at 5. 7%, versus 3. 5% for Regency Centers Corporation (REG).
09Is CBL or REG better for a retirement portfolio?
For long-horizon retirement investors, Regency Centers Corporation (REG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
36), 3. 5% yield). Both have compounded well over 10 years (REG: +31. 9%, CBL: +79. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CBL and REG?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: CBL is a small-cap deep-value stock; REG is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(CBL: 18.8% · REG: 31.9%)Net Margin>
%
(CBL: 23.5% · REG: 37.4%)P/E Ratio<
x
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