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JBG SMITH Properties (N:JBGS)

Business Focus: N/A

Sector:  N/A Industry:  N/A
 
See Regulatory Filings on SEC
Company Contact
Address: 4747 Bethesda Avenue, Suite 200
BETHESDA MD 20815-4641
Tel: 1-240-3333837
Website: https://www.jbgsmith.com
IR: See website
Key People
W. Matthew Kelly
Chief Executive Officer, Trustee
M. Moina Banerjee
Chief Financial Officer
George L. Xanders
Chief Investment Officer
Evan Regan-Levine
Chief Strategy Officer
Kevin Reynolds
Chief Development Officer
David Ritchey
Chief Commercial Officer
Steven A. Museles
Chief Legal Officer, Corporate Secretary
   
Business Overview
JBG SMITH Properties is a real estate investment trust. The Company owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC, notably National Landing. The Company operates through three segments: commercial, multifamily, and third-party asset management and real estate services. Its portfolio comprises about 14.2 million square feet of office, multifamily, and retail assets at share, 99% of which are metro-served. It also maintains a development pipeline encompassing about 8.8 million square feet of mixed-use, primarily multifamily, development opportunities. Its operating portfolio consists of about 44 operating assets comprising 16 multifamily assets totaling 6,318 units, 26 commercial assets totaling 8.3 million square feet and two wholly owned land assets for which it is the ground lessor. Additionally, the Company has two under-construction multifamily assets with 1,583 units.
Financial Overview
For the three months ended 31 March 2024, JBG SMITH Properties revenues decreased 5% to $145.2M. Net loss applicable to common stockholders totaled $32.9M vs. income of $21.2M. Revenues reflect Commercial segment decrease of 20% to $61.2M. Net loss reflects G/L on sale of inv properties - property decrease of 100% to $197K (income), Depreciation and amortization increase of 6% to $56.9M (expense).