Comprehensive Stock Comparison
Compare Regency Centers Corporation (REG) vs Welltower Inc. (WELL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 38.0% revenue growth vs REG's 9.7% |
| Value | REG | Lower P/E (32.1x vs 73.3x) |
| Quality / Margins | REG | 26.4% net margin vs WELL's 8.6% |
| Stability / Safety | WELL | Beta 0.29 vs REG's 0.52, lower leverage |
| Dividends | REG | 3.4% yield; 4-year raise streak; WELL pays no meaningful dividend |
| Momentum (1Y) | WELL | +36.8% vs REG's +6.7% |
| Efficiency (ROA) | REG | 3.2% ROA vs WELL's 1.4%, ROIC 6.1% vs 0.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Regency Centers is a real estate investment trust that owns, operates, and develops grocery-anchored shopping centers in affluent suburban neighborhoods. It generates revenue primarily through rental income from its portfolio of retail properties — with anchor tenants like Publix, Whole Foods, and Kroger providing stable cash flow — and also earns development fees from new projects. The company's competitive advantage lies in its high-quality portfolio concentrated in affluent, densely populated trade areas with strong demographics and limited new retail development.
Welltower is a healthcare-focused real estate investment trust that owns and invests in seniors housing communities, post-acute care facilities, and outpatient medical properties. It generates revenue primarily through rental income from its healthcare real estate portfolio — with seniors housing contributing roughly 60% of net operating income, outpatient medical properties about 25%, and post-acute care facilities the remainder. The company's competitive advantage lies in its scale and strategic partnerships with leading healthcare operators, creating a diversified portfolio concentrated in high-growth markets across the U.S., Canada, and the U.K.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
REG leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). WELL leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
WELL is the larger business by revenue, generating $10.8B annually — 6.9x REG's $1.6B. REG is the more profitable business, keeping 26.4% of every revenue dollar as net income compared to WELL's 8.6%. On growth, WELL holds the edge at +46.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.6B | $10.8B |
| EBITDAEarnings before interest/tax | $1.3B | $2.6B |
| Net IncomeAfter-tax profit | $411M | $934M |
| Free Cash FlowCash after capex | $815M | $2.1B |
| Gross MarginGross profit ÷ Revenue | +64.6% | +20.9% |
| Operating MarginEBIT ÷ Revenue | +58.0% | +4.9% |
| Net MarginNet income ÷ Revenue | +26.4% | +8.6% |
| FCF MarginFCF ÷ Revenue | +52.2% | +19.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +3.5% | +46.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +7.4% | -26.3% |
Valuation Metrics
At 37.4x trailing earnings, REG trades at a 75% valuation discount to WELL's 149.0x P/E. On an enterprise value basis, REG's 14.4x EV/EBITDA is more attractive than WELL's 54.4x.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $14.4B | $144.3B |
| Enterprise ValueMkt cap + debt − cash | $19.4B | $142.0B |
| Trailing P/EPrice ÷ TTM EPS | 37.44x | 149.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 32.13x | 73.28x |
| PEG RatioP/E ÷ EPS growth rate | 4.63x | — |
| EV / EBITDAEnterprise value multiple | 14.44x | 54.40x |
| Price / SalesMarket cap ÷ Revenue | 9.58x | 13.31x |
| Price / BookPrice ÷ Book value/share | 2.10x | 3.26x |
| Price / FCFMarket cap ÷ FCF | 18.22x | 50.06x |
Profitability & Efficiency
REG delivers a 5.8% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $2 for WELL. WELL carries lower financial leverage with a 0.07x debt-to-equity ratio, signaling a more conservative balance sheet compared to REG's 0.73x. On the Piotroski fundamental quality scale (0–9), REG scores 7/9 vs WELL's 5/9, reflecting strong financial health.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +5.8% | +2.2% |
| ROA (TTM)Return on assets | +3.2% | +1.4% |
| ROICReturn on invested capital | +6.1% | +0.9% |
| ROCEReturn on capital employed | +8.1% | +0.9% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 0.73x | 0.07x |
| Net DebtTotal debt minus cash | $5.0B | -$2.2B |
| Cash & Equiv.Liquid assets | $56M | $5.0B |
| Total DebtShort + long-term debt | $5.0B | $2.8B |
| Interest CoverageEBIT ÷ Interest expense | 5.13x | 0.81x |
Total Returns (with DRIP)
A $10,000 investment in WELL five years ago would be worth $32,119 today (with dividends reinvested), compared to $16,665 for REG. Over the past 12 months, WELL leads with a +36.8% total return vs REG's +6.7%. The 3-year compound annual growth rate (CAGR) favors WELL at 42.6% vs REG's 11.5% — a key indicator of consistent wealth creation.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +16.2% | +11.2% |
| 1-Year ReturnPast 12 months | +6.7% | +36.8% |
| 3-Year ReturnCumulative with dividends | +38.6% | +190.2% |
| 5-Year ReturnCumulative with dividends | +66.6% | +221.2% |
| 10-Year ReturnCumulative with dividends | +45.5% | +270.5% |
| CAGR (3Y)Annualised 3-year return | +11.5% | +42.6% |
Risk & Volatility
WELL is the less volatile stock with a 0.29 beta — it tends to amplify market swings less than REG's 0.52 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. REG currently trades 99.9% from its 52-week high vs WELL's 96.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.52x | 0.29x |
| 52-Week HighHighest price in past year | $79.08 | $215.56 |
| 52-Week LowLowest price in past year | $63.44 | $130.29 |
| % of 52W HighCurrent price vs 52-week peak | +99.9% | +96.1% |
| RSI (14)Momentum oscillator 0–100 | 70.9 | 69.0 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 2.5M |
Analyst Outlook
Wall Street rates REG as "Buy" and WELL as "Buy". Consensus price targets imply 6.9% upside for WELL (target: $221) vs 1.5% for REG (target: $80). REG is the only dividend payer here at 3.39% yield — a key consideration for income-focused portfolios.
| Metric | REGRegency Centers C… | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $80.22 | $221.45 |
| # AnalystsCovering analysts | 32 | 34 |
| Dividend YieldAnnual dividend ÷ price | +3.4% | — |
| Dividend StreakConsecutive years of raises | 4 | 1 |
| Dividend / ShareAnnual DPS | $2.68 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.5% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Regency Centers Cor… (REG) | 100 | 119.39 | +19.4% |
| Welltower Inc. (WELL) | 100 | 249.04 | +149.0% |
Welltower Inc. (WELL) returned +221% over 5 years vs Regency Centers Cor… (REG)'s +67%. A $10,000 investment in WELL 5 years ago would be worth $32,119 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Regency Centers Cor… (REG) | $646M | $1.5B | +132.7% |
| Welltower Inc. (WELL) | $4.3B | $10.8B | +154.9% |
Welltower Inc.'s revenue grew from $4.3B (2016) to $10.8B (2025) — a 11.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Regency Centers Cor… (REG) | 25.5% | 26.6% | +4.3% |
| Welltower Inc. (WELL) | 25.4% | 8.6% | -65.9% |
Welltower Inc.'s net margin went from 25% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Regency Centers Cor… (REG) | 69.2 | 35 | -49.4% |
| Welltower Inc. (WELL) | 50.6 | 133.5 | +163.8% |
Regency Centers Corporation has traded in a 22x–175x P/E range over 8 years; current trailing P/E is ~37x. Welltower Inc. has traded in a 27x–219x P/E range over 9 years; current trailing P/E is ~149x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Regency Centers Cor… (REG) | 1.42 | 2.11 | +48.6% |
| Welltower Inc. (WELL) | 2.81 | 1.39 | -50.5% |
Welltower Inc.'s EPS grew from $2.81 (2016) to $1.39 (2025) — a -8% CAGR.
Chart 6Free Cash Flow — 5 Years
Regency Centers Corporation generated $790M FCF in 2024 (+99% vs 2021). Welltower Inc. generated $3B FCF in 2025 (+129% vs 2021).
REG vs WELL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is REG or WELL a better buy right now?
Regency Centers Corporation (REG) offers the better valuation at 37.4x trailing P/E (32.1x 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 — REG or WELL?
On trailing P/E, Regency Centers Corporation (REG) is the cheapest at 37.4x versus Welltower Inc. at 149.0x. On forward P/E, Regency Centers Corporation is actually cheaper at 32.1x.
03Which is the better long-term investment — REG or WELL?
Over the past 5 years, Welltower Inc. (WELL) delivered a total return of +221.2%, compared to +66.6% for Regency Centers Corporation (REG). A $10,000 investment in WELL five years ago would be worth approximately $32K today (assuming dividends reinvested). Over 10 years, the gap is even starker: WELL returned +270.5% versus REG's +45.5%. 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 — REG or WELL?
By beta (market sensitivity over 5 years), Welltower Inc. (WELL) is the lower-risk stock at 0.29β versus Regency Centers Corporation's 0.52β — meaning REG is approximately 80% more volatile than WELL relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 7% versus 73% for Regency Centers Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — REG or WELL?
Regency Centers Corporation (REG) is the more profitable company, earning 26.6% net margin versus 8.6% for Welltower Inc. — meaning it keeps 26.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: REG leads at 64.4% versus 4.9% for WELL. At the gross margin level — before operating expenses — REG leads at 71.2%, 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.
06Is REG or WELL more undervalued right now?
On forward earnings alone, Regency Centers Corporation (REG) trades at 32.1x forward P/E versus 73.3x for Welltower Inc. — 41.2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WELL: 6.9% to $221.45.
07Which pays a better dividend — REG or WELL?
In this comparison, REG (3.4% yield) pays a dividend. WELL does not pay a meaningful dividend and should not be held primarily for income.
08Is REG or WELL 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 0.52), 3.4% yield). Both have compounded well over 10 years (REG: +45.5%, WELL: +270.5%), 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.
09What are the main differences between REG and WELL?
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: REG is a mid-cap income-oriented stock; WELL is a mid-cap quality compounder stock. REG pays a dividend while WELL does not, making them suitable for different income and tax situations. 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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