Realty Income Corp (O) is undervalued and Regency Centers Corp (REG) is overvalued.
Against our estimates of intrinsic value, O trades at the wider discount: a margin of safety of +54%, against -100% for REG.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.8% (average of 3 methods) values the shares at $123.83; the price of $56.53 is 54% below that value, and 78% of that value comes from beyond year five.
Leak Score 60/100 on 7 of 12 signals
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $36.76; the price of $73.53 is 100% above that value, and 79% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | O | REG |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $56.53 | $73.53 |
| Intrinsic value | $123.83 | $36.76 |
| Margin of safety | +54% | -100% |
| Leak Score | 60/100 (7/12) | 0/100 (2/12) |
| Market cap | $53.5B | $13.5B |
| Revenue growth, 5 years | 27.8% | 7.5% |
| Operating margin | 45.6% | 37.3% |
| Net margin | 20.9% | 33.5% |
| Return on equity | 3.2% | 8.2% |
| Debt to equity | 0.83 | 0.80 |
| P/E | 41.4x | 24.8x |
| Forward P/E | 33.5x | 28.9x |
| P/B | 1.4x | 2.0x |
| Dividend yield | 5.8% | 4.1% |