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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 first quarter 2021 results revealing a net loss of $20.7 million, or $0.16 per diluted share. The Funds From Operations (FFO) was $42.3 million, while Core FFO stood at $49.6 million. Annualized Net Operating Income (NOI) increased to $322.2 million, despite a 9.2% decrease in Same Store NOI due to COVID-19 impacts. The operating portfolio was 87.3% leased and 91.0% leased for commercial and multifamily, respectively. The company has ongoing developments with a future pipeline of 29 assets totaling 12 million square feet. A quarterly dividend of $0.225 per share was also declared.
JBG SMITH (NYSE: JBGS) has declared a quarterly dividend of $0.225 per common share, payable on May 27, 2021, to shareholders on record as of May 13, 2021. This announcement highlights the company’s ongoing commitment to returning value to its investors. JBG SMITH, an S&P 400 company, manages a portfolio of 16.7 million square feet of mixed-use properties concentrated in the Washington, DC area, with a significant development pipeline of 17.6 million square feet. The firm aims to create vibrant, amenity-rich neighborhoods around National Landing, home to Amazon's new headquarters.
JBG SMITH (NYSE: JBGS) will release its first quarter 2021 financial results on May 4, 2021, after market close. The earnings report will be available on their Investor Relations website. JBG SMITH boasts a robust portfolio of 16.7 million square feet of mixed-use properties, with 98% Metro-served, and a development pipeline of 17.6 million square feet. The company focuses on creating vibrant, walkable neighborhoods in the Washington, DC area, notably serving as the exclusive developer for Amazon's new headquarters.
JBG SMITH (NYSE: JBGS) has appointed Barbat Rodgers as Senior Vice President of Investor Relations, reporting to the CFO. With over a decade of experience in investment banking and corporate finance, Ms. Rodgers aims to enhance investor engagement while overseeing the Investor Relations function. Previously with Healthpeak Properties, she has a strong background in the real estate sector. JBG SMITH, focused on high-quality mixed-use properties in the Washington, DC area, boasts a portfolio of 16.7 million square feet and a development pipeline of 17.6 million square feet.
JBG SMITH (NYSE: JBGS) has announced the start of construction for two residential towers at 1900 Crystal Drive in National Landing, comprising 808 multifamily rental units and 40,000 square feet of retail space. The project includes a 27-story southern tower with 471 apartments and a 26-story northern tower with 337 apartments. The guaranteed maximum price contract secured is over 7.5% below pre-pandemic pricing. This development aims to enhance the community and increase the area's daytime population significantly, driven by Amazon's growing presence in the region.
JBG SMITH (NYSE: JBGS) has achieved the 2020 Fitwel Viral Response Certification for its entire Commercial Office portfolio, validating its strategies to mitigate COVID-19 spread in workplaces. This recognition underscores the company's commitment to tenant health, having implemented policies such as enhanced air filtration, rigorous cleaning protocols, and clear communication on health guidelines. Fitwel's certification reflects JBG SMITH's comprehensive approach to creating safe work environments, strengthening tenant trust as they prepare for workplace returns.
JBG SMITH (NYSE: JBGS) closed the Washington Housing Initiative Impact Pool with $114.5 million in investor commitments by year-end 2020. The Impact Pool provided a $6.7 million subordinate loan to the Washington Housing Conservancy, aiding in the purchase of Crystal House, an 825-unit affordable apartment complex in Arlington, Virginia. To date, the Impact Pool has deployed $21.8 million to preserve 1,151 units of affordable housing. The acquisition includes a 99-year affordability covenant, ensuring that 75% of units remain affordable for residents earning 80% of the area median income or less.
JBG SMITH (NYSE: JBGS) reported a net loss of $45.7 million for Q4 2020, with total FFO of $23.1 million. For the full year, the net loss was $62.3 million, while FFO reached $115.9 million. Operating portfolio metrics showed an 88.1% lease rate and 87.7% occupancy. Yearly SSNOI decreased 4.3% due to COVID-19 impacts. The company executed 209,000 square feet of office leases, reflecting rental increases. The debt was $2.0 billion, with a net debt to adjusted EBITDA ratio of 9.2x. A quarterly dividend of $0.225 per share was declared.
JBG SMITH (NYSE: JBGS) announced the appointment of Phyllis R. Caldwell to its Board of Trustees effective March 1, 2021. Caldwell, an independent advisor and former Chief of the Homeownership Preservation Office at the U.S. Treasury, brings extensive experience in finance, housing, and economic development. CEO Matt Kelly expressed enthusiasm for her contribution to JBG SMITH's growth in the multifamily sector. JBG SMITH owns and develops high-quality mixed-use properties, currently managing a portfolio of 20.7 million square feet with a 17.1 million square feet development pipeline.
JBG SMITH (NYSE: JBGS) is set to commence demolition and infrastructure work this month in Alexandria’s Potomac Yard for a new educational and commercial space, centered around the $1 billion Virginia Tech Innovation Campus. The project involves 1.7 million square feet, including office towers and residential buildings. Virginia Tech will construct a 300,000-square foot facility supporting computer science and engineering programs, aiming for LEED recognition. The project is anticipated to enhance collaboration between academia and industry while creating vibrant mixed-use developments.
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