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Neighborhood shopping center REITs

The 14 companies in this industry listed on the NYSE and Nasdaq are worth $68 bn combined; the largest are Kimco Realty (KIM), Regency Centers (REG) and Federal Realty Investment Trust (FRT). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Evenly matched
14 companies value 68 bn revenue 10 bn margin — free cash flow — avg. score 5.6
KIM holds 22.5% of the group's value, 1.1x the runner-up · REG leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 KIM Kimco Realty
United States · score 6.1
23% 15 bn 2.2 bn 27.8% 1.2 bn 7.6% 4.7% Neighborhood shopping center REIT · Largest US open-air shopping center REIT
2 REG Regency Centers
United States · score 6.5
20% 13 bn 1.6 bn 34.4% 0.9 bn 6.5% 4.0% REIT of grocery-anchored shopping centers · Grocery-anchored neighborhood centers; very high occupancy
3 FRT Federal Realty Investment Trust
United States · score 5.2
14% 9.1 bn 1.3 bn 32.7% 0.6 bn 6.9% — REIT of shopping centers in dense areas · The only REIT with 55+ consecutive years of dividend increases
4 BRX Brixmor Property Group Inc.
United States · score 6.0
12% 8.4 bn 1.4 bn 30.8% 0.7 bn 8.2% — REIT of open-air shopping centers · New York — assets of $9bn
5 KRG KITE REALTY GROUP TRUST
United States · score 6.2
7% 4.9 bn 0.8 bn 35.5% 0.3 bn 5.3% 4.8% REIT of grocery-anchored shopping centers in the Sun Belt · Indiana — assets of $6.3bn
6 PECO Phillips Edison & Company, Inc.
United States · score 6.4
7% 4.9 bn 0.8 bn 19.1% 0.4 bn 7.5% 3.4% Grocery-anchored neighborhood shopping centers · Ohio — assets of $5.4bn
7 CURB Curbline Properties Corp.
United States · score 5.7
5% 3.0 bn 0.2 bn 14.7% 0.1 bn 4.4% 2.4% Street-corner shopping centers in affluent suburbs · New York — assets of $2.8bn
8 AKR ACADIA REALTY TRUST
United States · score 5.5
4% 2.5 bn 0.4 bn 4.2% 0.2 bn 6.6% 4.2% REIT of street retail in dense areas · New York — assets of $4.6bn
9 UE Urban Edge Properties
United States · score 6.1
4% 2.4 bn 0.5 bn 13.7% 0.1 bn 3.0% 4.2% Retail REIT in the Washington-to-Boston corridor · New York — assets of $3.4bn
10 IVT InvenTrust Properties Corp.
United States · score 4.3
3% 2.3 bn 0.3 bn 4.8% 0.1 bn 5.2% 3.2% Grocery-anchored shopping centers in the Sun Belt · Illinois — assets of $3bn
11 CTO CTO Realty Growth, Inc.
United States · score 5.8
1% 0.8 bn 0.2 bn 32.6% 0.1 bn 9.6% 6.8% REIT of retail and mixed-use properties in growth markets · Florida — assets of $1.4bn
12 BFS SAUL CENTERS, INC.
United States · score 5.5
1% 0.7 bn 0.3 bn 11.5% 0.1 bn 14.4% 8.0% REIT of shopping centers and offices in the Washington area · Maryland — assets of $2.2bn
13 SITC SITE Centers Corp.
United States · score 5.9
0% 0.2 bn 0.1 bn 249.6% -0.0 bn -9.5% 190.4% Shopping center REIT · Ohio — assets of $365m
14 WHLR Wheeler Real Estate Investment Trust, Inc.
United States · score 3.6
— — 0.1 bn 17.8% 0.0 bn — — Grocery-anchored neighborhood shopping centers: 59 properties in 14 US states · Virginia — assets of $593m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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