JBG SMITH Properties Common Shares - JBGS STOCK NEWS

JBG SMITH (NYSE: JBGS) has announced the sale of two properties totaling $344 million and increased its common share repurchase authorization by $500 million, bringing the total to $1 billion. The significant sales include a $198 million transaction of the PenPlace site to Amazon, set for its HQ2, and the sale of the 1900 N Street office building. The company aims to focus on multifamily investments, enhancing shareholder value through strategic capital recycling.

JBG SMITH (NYSE: JBGS) reported financial results for Q1 2022, revealing a net loss of $20.7 million, while Funds From Operations (FFO) reached $51.3 million. Annualized Net Operating Income (NOI) increased to $370.7 million, with Same Store NOI rising 12.0% year-over-year. The commercial portfolio was 85.2% leased, and multifamily portfolio occupancy was at 94.1%. Significant activities post-March 31 included the sale of the Universal Buildings for $228 million and a new venture with Fortress Investment Group valued at $580 million. A quarterly dividend of $0.225 was declared, payable May 27, 2022.

JBG SMITH (NYSE: JBGS), a prominent mixed-use property owner in Washington, DC, has declared a quarterly dividend of $0.225 per common share. This dividend is set to be paid on May 27, 2022, to shareholders on record as of May 13, 2022.

JBG SMITH's portfolio includes 17.4 million square feet of office, multifamily, and retail assets, with a development pipeline of 16.6 million square feet. The company focuses on creating vibrant neighborhoods and aims for carbon-neutral operations.

JBG SMITH (NYSE: JBGS) has released its 2021 Environmental, Social, and Governance (ESG) Report, showcasing significant sustainability milestones. The company achieved carbon neutrality for scope 1 and 2 emissions and received multiple accolades, including the Nareit’s 2021 Diversified Leader in the Light award. Financially, JBG SMITH invested $34 million in workforce housing and established a $1 million rent relief fund. The report emphasizes improved governance with a more gender-balanced Board of Trustees and ongoing alignment with major sustainability frameworks, marking a commitment to long-term sustainability and shareholder value.

JBG SMITH (NYSE: JBGS) will release its first quarter 2022 financial results on May 3, 2022, after market close. The earnings package will be accessible via the company's Investor Relations website. JBG SMITH is a prominent developer of high-quality, mixed-use properties in the Washington, DC area. The firm focuses on creating vibrant neighborhoods, with over half of its portfolio situated in the National Landing submarket, where it is involved in significant developments, including Amazon's new headquarters and Virginia Tech's upcoming Innovation Campus.

JBG SMITH (NYSE: JBGS) announces the commencement of construction for Water Park and Dining in the Park in National Landing. The 1.6-acre redesigned Water Park will feature nine food kiosks, a full-service restaurant, and public art installations, promoting local businesses and community engagement. Dining in the Park, a collaboration with Chef Enrique Limardo, will incorporate a 5,587-square-foot dining destination amidst greenery. Expected to complete in 2023, these developments aim to enhance the area as a vibrant live-work-play destination, boosting community interaction and retail growth.

JBG SMITH (NYSE: JBGS) reported its 2021 financial results, revealing a net loss of $0.63 per diluted share, affected by $49 million in impairment losses. The Funds From Operations (FFO) was $1.22 per diluted share, marking a decrease from $1.36 in 2020. For Q4 2021, the net loss was $0.45 per share, while Core FFO was $0.31. The company saw a 20.9% increase in NOI and executed 1.7 million square feet in leases for the year. The total enterprise value was approximately $6.6 billion. Subsequent developments include a $198 million property sale and the acquisition of a $205 million multifamily asset.

JBG SMITH (NYSE: JBGS) has entered a definitive agreement with Fortress Investment Group to form a joint venture, recapitalizing a portfolio of seven office buildings valued at $580 million. The portfolio encompasses 1.6 million square feet across the Washington, DC area, including properties in Bethesda, DC, Reston, and Arlington. This strategic move aligns with JBG SMITH's plan to shift towards multifamily developments and enhance its capital recycling efforts, following its goal to sell $1.5 billion in non-core assets.