$IRT vs $REG: Multifamily REIT Uncertainty Versus Grocery-Anchored Stability Both IRT and REG are real estate investment trusts (REITs), but they occupy different subsectors: IRT owns multifamily apartment communities, while REG owns grocery-anchored shopping centers. IRT's shares have weakened recently amid a proposed all-stock merger with Centerspace and public pushback from activist shareholder Irenic Capital Management. REG has posted consistent same-property net operating income (NOI) growth and double-digit blended rent spreads, supported by resilient grocery-anchored tenant demand. IRT offers a higher dividend yield near 4.9%, but it has contended with negative new-lease rent spreads in Sun Belt apartment markets.