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JBG SMITH (NYSE: JBGS), a prominent developer and owner of mixed-use properties in the Washington, DC area, has shared management commentary on its 2024 Investor Day materials. The company highlighted its current projects, future developments, and strategic initiatives aimed at enhancing shareholder value. Key points include plans for new residential and commercial properties, ongoing leasing activities, and financial performance metrics.
JBG SMITH (NYSE: JBGS) reported first quarter 2024 financial results with a net loss of $32.3 million, FFO of $10.7 million, and Core FFO of $26.9 million. Annualized NOI was $307.5 million, SSNOI increased by 6.5%, and operating portfolios showed stable occupancy rates. The company had two multifamily assets under construction and 18 assets in the development pipeline. Revenue from third-party real estate services was $17.9 million. Balance sheet showed total enterprise value of $4.0 billion. Activities included asset sales, share repurchases, and dividend declaration.