Welcome to our dedicated page for JBG SMITH Properties news (Ticker: JBGS), a resource for investors and traders seeking the latest updates and insights on JBG SMITH Properties stock.
JBG SMITH Properties owns, operates, invests in and develops mixed-use real estate concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, with a notable concentration in National Landing. The company’s portfolio spans multifamily, office and retail assets, and it also reports on a mixed-use development pipeline and third-party real estate services activity.
Recurring news for JBGS includes quarterly and annual results, Form 10-Q and Form 10-K releases, dividend declarations, leasing and occupancy trends, annualized NOI and same-store NOI, rent activity in the multifamily portfolio, property operating expenses, asset sales or acquisitions, and development deliveries within its Washington, DC-area real estate platform.
JBG SMITH (NYSE: JBGS) has completed the construction of 1770 Crystal Drive, a 273,000 square-foot office building in National Landing, fully leased by Amazon for its HQ2 expansion. This milestone aligns with the two-year anniversary of Amazon choosing National Landing as its second headquarters. The building was finished two quarters ahead of schedule and under budget, contributing to Amazon's total leased space in the area, which now reaches 857,000 square feet across five buildings. JBG SMITH is also managing the construction of additional office and retail space as part of Amazon's headquarters.
JBG SMITH (NYSE: JBGS) announced a quarterly dividend of $0.225 per common share, payable on January 11, 2021, to shareholders recorded by December 28, 2020. As a prominent owner and developer in the Washington, DC market, JBG SMITH focuses on creating vibrant mixed-use properties. The company currently manages a portfolio of 20.7 million square feet of assets, with 98% being Metro-served, and has a development pipeline of 17.1 million square feet. For more insights, visit www.jbgsmith.com.
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JBG SMITH (NYSE: JBGS) reported a net loss of $22.8 million, or $0.18 per diluted share, for Q3 2020. Funds From Operations (FFO) was $32.4 million, with Core FFO at $40.2 million. Annualized Net Operating Income (NOI) decreased to $291.1 million, with commercial properties 88.4% leased. A significant impact from COVID-19 was noted, affecting occupancy rates and leading to a decline in Same Store NOI by 4.4%. The company closed $385 million in mortgage loans and repurchased 1.4 million shares. A dividend of $0.225 per share was declared, payable on November 30, 2020.
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