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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) 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.
JBG SMITH (NYSE: JBGS) will report its fourth quarter and year-end 2021 financial results on February 22, 2022, after market close. Investors can access the quarterly investor package and earnings release on the company’s website. JBG SMITH is a prominent owner and developer of mixed-use properties in the Washington, DC area, focusing on high-growth submarkets. The company boasts a portfolio of 17.1 million square feet of assets, with a significant development pipeline of 16.6 million square feet. JBG SMITH aims for carbon-neutral operations.
JBG SMITH has commenced construction on two multifamily towers at 2000 and 2001 South Bell Street in National Landing, set to deliver 775 rental apartments and nearly 27,000 square feet of retail space. Designed by KPF and STUDIOS, the towers will feature modern amenities, including rooftop spaces, fitness centers, and electric vehicle charging stations. Targeting LEED Gold Certification, the project aims to enhance the local architecture and support growth in the area driven by Amazon and Virginia Tech. Over 1,583 units are currently under construction, reflecting ongoing demand in the Washington, DC market.
JBG SMITH (NYSE: JBGS) has announced the tax treatment for its 2021 distributions on common shares. The distributions total $1.125 per share, with $0.900 classified as taxable income in 2021 and $0.225 as total capital gain distributions. Key record and payable dates include December 28, 2020, and various dates throughout 2021. JBG SMITH emphasizes the importance of consulting a tax advisor regarding the implications of these distributions on federal, state, and local taxes.
JBG SMITH (NYSE: JBGS) has declared a $0.225 quarterly dividend per common share, payable January 14, 2022, to shareholders of record by December 30, 2021. The company focuses on developing mixed-use properties in the Washington, DC area, holding a portfolio of 17.1 million square feet of assets and a 16.6 million square feet development pipeline. JBG SMITH aims for carbon-neutral operations annually and emphasizes creating vibrant, walkable neighborhoods, particularly in the National Landing submarket where it is the exclusive developer for Amazon's headquarters.
JBG SMITH (NYSE: JBGS) was awarded Nareit’s 2021 Diversified Leader in the Light award for its exemplary ESG efforts. Recognized during the REITworld: 2021 Annual Conference, JBG SMITH achieved top honors among diversified companies. The award reflects strong performance in sustainability as assessed by the GRESB Annual Survey. The company has also declared carbon neutrality across its operating portfolio and ranked first in its sector for development. JBG SMITH operates 17.1 million square feet of properties, primarily in the Washington, DC area, with a pipeline of 16.6 million square feet for development.
JBG SMITH (NYSE: JBGS) reported its Q3 2021 financial results, showing net income of $0.00 per diluted share, with Funds From Operations (FFO) at $0.27 and Core FFO at $0.32 per diluted share. Total enterprise value reached approximately $6.4 billion. Annualized Net Operating Income (NOI) was $324.0 million, a slight decrease from the previous quarter. The company executed 126,000 square feet of office leases with a modest rental rate increase. A quarterly dividend of $0.225 per share was declared, payable on November 24, 2021. COVID-19 continued to impact financial performance, particularly in the commercial sector.
JBG SMITH (NYSE: JBGS) has announced a quarterly dividend of $0.225 per common share, payable on November 24, 2021, to shareholders of record by November 10, 2021. The company specializes in developing and managing mixed-use properties in the Washington, DC area, focusing on creating vibrant neighborhoods and maintaining carbon-neutral operations. JBG SMITH's portfolio includes 17.2 million square feet of assets, with a significant portion in the high-demand National Landing submarket, highlighting its strategic partnership with Amazon.
JBG SMITH (NYSE: JBGS) announces the launch of Surreal, a new dining venue at Dining in the Park in National Landing. Developed in collaboration with Seven Restaurant Group, known for acclaimed establishments like Seven Reasons, Surreal will offer indoor/outdoor dining and unique culinary experiences. The project is expected to begin construction in early 2022 and open in 2023, enhancing National Landing as a culinary destination with one acre of green space for diverse community activities.
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