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.
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JBG SMITH, a leading owner and developer of mixed-use properties in Washington, DC, released its annual ESG Report for 2022, showcasing significant achievements in sustainability, social initiatives, and governance practices.
Key Highlights:
- Maintained carbon neutrality for Scope 1 and 2 emissions.
- Recognized as a 5-Star GRESB Sector Leader in Diversified Office/Residential.
- Provided over $65 million to preserve 2,565 housing units.
- Awarded “Best ESG Investment Fund: Real Estate” by ESG Investing.
- Established an ESG Committee for climate risk management.
The company's ongoing commitment to carbon neutrality and social value investment reflects its strategy to align ESG priorities with long-term business goals.
JBG SMITH (NYSE: JBGS) is set to report its first quarter 2023 financial results post-market on May 9, 2023. The report will be accessible in the Investor Relations section of its website. JBG SMITH specializes in developing and managing high-quality, mixed-use properties, primarily in the Washington, DC area. The company's portfolio includes approximately 15.3 million square feet of assets, with a significant focus on the National Landing submarket, which is benefitting from major projects like Amazon's new headquarters and Virginia Tech's $1 billion Innovation Campus. JBG SMITH aims to shift its portfolio towards multifamily properties while ensuring sustainable, green operations.
JBG SMITH announces that Amazon's HQ2 at National Landing is on track for a summer 2023 opening, with a current workforce of 8,000 employees—up 60% since April 2022. The 2.1 million square-foot development will ultimately house up to 14,000 workers. JBG SMITH is also progressing with Virginia Tech's $1 billion Innovation Campus and is set to deliver 1,500 new apartments in the area within the next 18 months. The company continues to collaborate with Amazon on future phases, including the Pen Place development.
JBG SMITH (NYSE: JBGS) has partnered with Fortress Solutions to provide end-to-end facilities management services for its fiber optics and 5G infrastructure in National Landing, the first 5G Smart City in the United States. This collaboration will enhance connectivity and support the deployment of digital infrastructure, including edge data centers and co-location capabilities. JBG SMITH aims to leverage its mixed-use properties and proximity to key institutions like Amazon and Virginia Tech to attract technology-driven tenants. The first phase of this project was delivered in Q4 2022, with further advancements anticipated in the first half of 2023.
JBG SMITH (NYSE: JBGS) has filed its Form 10-K for the year ended December 31, 2022, reporting a net loss of $18.6 million for Q4 and $56.4 million for the full year. The company's Funds From Operations (FFO) for the year stood at $156 million, with a Core FFO of $155.3 million. Annualized Net Operating Income (NOI) slightly increased to $322.3 million. Same Store NOI rose 7.4% year-over-year for Q4. The operating commercial portfolio was 88.5% leased, while the multifamily portfolio was 94.5% leased. After various acquisitions, total enterprise value reached approximately $4.7 billion. A quarterly dividend of $0.225 per share was declared on December 15, 2022.
JBG SMITH (NYSE: JBGS), a key player in mixed-use property development in Washington, DC, will report its fourth quarter and year-end 2022 financial results on February 21, 2023. The financial disclosures, including the earnings release, will be available on its Investor Relations website. The company focuses on developing vibrant, amenity-rich neighborhoods, primarily in the high-growth National Landing submarket, where Amazon's new headquarters is being built alongside Virginia Tech's $1 billion Innovation Campus. JBG SMITH's existing portfolio includes 15.6 million square feet of assets, with a development pipeline of 9.8 million square feet.
JBG SMITH (NYSE: JBGS) announced the tax treatment of its 2022 distributions on common shares, detailing allocations to be reported on Form 1099-DIV. The total taxable dividends for 2022 amount to $1.125 per share, with $1.000 classified as ordinary dividends and $0.125 as capital gain distributions. Key record dates for these distributions range from December 30, 2021, to December 29, 2022. Interestingly, 100% of the total capital gain distributions are from asset sales that generated Section 1231 gains or were held for over three years. The company recommends consulting tax advisors for individual tax implications.