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JBG SMITH Properties (symbol: JBGS) is a leading real estate investment trust (REIT) based in the United States, primarily focused on urban infill submarkets in and around Washington, D.C. The company has a rich history dating back to 1960, when it began investing, owning, and developing real estate in the Washington metropolitan area—a region known for its dynamic real estate market.
JBG SMITH's diverse portfolio includes millions of square feet across various property types such as office, residential, hotel, and retail spaces. The company operates through three main segments: Commercial, Multifamily, and Third-Party Asset Management and Real Estate Services. The majority of its revenue is generated from the Commercial segment, which involves leasing office and retail spaces.
One of JBG SMITH's key strengths is its commitment to creating and preserving real estate values while continuously improving the urban environment in the Washington metropolitan area. The company is recognized for securing superior risk-adjusted returns, making it a trusted name among investors, partners, and employees. It also provides fee-based real estate services to legacy funds through its third-party real estate services business.
In recent developments, JBG SMITH has been involved in various high-profile projects aimed at enhancing urban infrastructure and living spaces. The company's focus on sustainability, integrity, and dependability has earned it a distinguished reputation in the industry.
Whether you're an investor looking for reliable returns, a business seeking prime office space, or a resident in search of quality living, JBG SMITH continues to be a cornerstone of the real estate landscape in one of the world's most active markets.
- Core Business: Real Estate Investment and Development
- Operating Segments: Commercial, Multifamily, Third-Party Asset Management, and Real Estate Services
- Revenue Source: Predominantly from the Commercial Segment
- Recent Achievements: High-profile urban development projects
- Commitment: Sustainability, integrity, and superior risk-adjusted returns
JBG SMITH (NYSE: JBGS) has announced a significant $50 million investment through its Impact Pool to acquire 955 units of workforce housing in the Washington, DC area. This initiative, part of the Washington Housing Initiative, aims to create or preserve between 2,000 and 3,000 affordable housing units by 2028, having already surpassed 2,500 units since 2020. The Impact Pool targets communities at risk of rising housing costs, ensuring affordability and preventing displacement for essential workers. The financing supports three key properties, underlining JBG SMITH's commitment to social impact and sustainable development.
JBG SMITH (NYSE: JBGS) has announced a quarterly dividend of $0.225 per common share. This dividend will be paid on January 12, 2023 to shareholders of record as of December 29, 2022. JBG SMITH focuses on developing high-quality mixed-use properties in the Washington, DC area, with over 15.6 million square feet of assets and a development pipeline of 9.8 million square feet. Notably, JBG SMITH is involved in the development of Amazon's new headquarters and Virginia Tech's $1 billion Innovation Campus.
JBG SMITH (NYSE: JBGS) reported its financial results for Q3 2022, revealing a net loss of $19.3 million, primarily due to a $15.4 million impairment loss linked to commercial assets. Funds From Operations (FFO) increased to $40.1 million, while Core FFO was $41.2 million. Annualized Net Operating Income (NOI) fell to $322 million, attributed to a rise in lease abatement and higher utility costs. The company's operating portfolio was 88.3% leased, and it executed roughly 207,000 square feet of office leases during the quarter. A dividend of $0.225 per common share was declared for November 2022.
JBG SMITH (NYSE: JBGS) has declared a quarterly dividend of $0.225 per common share, to be paid on November 22, 2022 to shareholders on record as of November 8, 2022. The company owns and develops a diverse portfolio of mixed-use properties in the Washington, DC area, with a focus on high-growth submarkets. Notably, over half of its assets are located in National Landing, where it is developing Amazon's new headquarters and a $1 billion Innovation Campus for Virginia Tech. JBG SMITH is committed to green building and aims for carbon-neutral operations annually.
JBG SMITH has signed a 11.5-year lease with HII for 36,809 square feet at 2451 Crystal Drive, National Landing. This move strengthens HII's proximity to key clients, particularly the U.S. Navy, and boosts its presence in the national capital region. The lease reflects ongoing growth, with JBG SMITH securing over 1.4 million square feet of new leases since April 2020. This expansion positions both companies amidst a burgeoning hub for defense technology alongside industry leaders like Boeing and Raytheon.
JBG SMITH (NYSE: JBGS) will announce its third quarter 2022 financial results on November 1, 2022. Investors can access the quarterly investor package, including the earnings release, via the company's Investor Relations website.
The company focuses on high-quality, mixed-use properties in the Washington, DC area, with a significant portion of its holdings in the National Landing submarket. JBG SMITH's portfolio comprises 15.5 million square feet of assets, with 98% metro-served, and a development pipeline of 9.8 million square feet.
JBG SMITH has partnered with Federated Wireless to provide exclusive 5G Private Wireless Services in National Landing. Federated Wireless will relocate its headquarters, occupying 36,000 square feet in JBG SMITH's 2121 Crystal Drive. This strategic collaboration aims to create a converged digital infrastructure with a focus on innovation in sectors such as government, high tech, and retail. The project includes a $25.3 million investment in CBRS spectrum, facilitating high-speed connectivity for tenants in the area, supporting the rapid transformation of National Landing.
JBG SMITH (NYSE: JBGS) reported its Q2 2022 financial results, revealing a net income of $123.3 million, a significant improvement from a loss of $3.0 million in Q2 2021. Funds From Operations (FFO) for the quarter was $33.6 million, down from $37.9 million year-over-year. Same Store NOI increased by 13.8% to $79.3 million, driven by higher occupancy in multifamily units. The operating commercial portfolio was 87.3% leased. JBG SMITH's total enterprise value stands at approximately $5.2 billion with a net debt to annualized Adjusted EBITDA of 8.1x as of June 30, 2022.
JBG SMITH (NYSE: JBGS) has announced a quarterly dividend of $0.225 per common share, set to be paid on August 26, 2022. Shareholders of record by August 12, 2022 will receive this dividend. The company focuses on developing high-quality, mixed-use properties primarily in the Washington, DC market, with significant investments in the National Landing submarket, including Amazon’s new headquarters and Virginia Tech’s $1 billion Innovation Campus. Currently, JBG SMITH holds a portfolio of 17.9 million square feet and a development pipeline of 14.4 million square feet.
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