JBG SMITH Earnings Reports

JBG SMITH reported Core FFO attributable to common shareholders of $26.9 million, or $0.29 per diluted share, for the three months ended March 31, 2024. The company closed $176.8 million of capital recycling transactions and experienced strong multifamily Same Store NOI growth of 11.1%.

JBG SMITH reported a net loss of $32.6 million, or $0.35 per diluted share, and Core FFO of $36.1 million, or $0.38 per diluted share for the quarter. The company continued its capital recycling program, disposing of non-core assets, and saw growth in multifamily same-store NOI while facing headwinds in the office sector due to expected Amazon vacates.

JBG SMITH reported a net loss of $58 million attributable to common shareholders, with Core FFO at $41 million, or $0.40 per diluted share. The company closed $141.8 million in capital recycling transactions and executed 434,000 square feet of office leases, the strongest quarter since 2021. Multifamily portfolio occupancy grew to 95.6%.

JBG SMITH reported a net loss attributable to common shareholders of $10.5 million, or $0.10 per diluted share, for the three months ended June 30, 2023. Core FFO was $39.8 million, or $0.36 per diluted share. The company continues to execute its strategy of reducing non-core office exposure and growing its multifamily portfolio.

JBG SMITH reported Core FFO of $37.2 million, or $0.33 per diluted share, with Annualized NOI increasing 1.6% quarter-over-quarter to $327.5 million, as the company focused on strategic transformation and balance sheet strength.

JBG SMITH reported Core FFO of $34.3 million, or $0.30 per diluted share, and Same Store NOI increased 7.4% year-over-year to $77.2 million for the quarter. The company completed $1.2 billion of dispositions, achieved strong operating performance in its multifamily and commercial portfolios, and continued to advance the design and entitlement of its land bank.

JBG SMITH reported strong Q3 results with Same Store NOI increasing 11.5% year-over-year, multifamily portfolio occupancy increasing 140 basis points quarter-over-quarter to 93.7%, and the execution of 207,000 square feet of office leases.

JBG SMITH reported strong Q2 2022 results with a focus on advancing their strategy amidst a volatile market. They substantially completed their 2022 recycling goal and saw improvements in operating results, particularly in multifamily and commercial portfolios. Same Store NOI increased by 13.8% year-over-year.

JBG SMITH saw signs of strength as the market reopened, particularly in National Landing. The company accelerated capital recycling initiatives, advancing portfolio transformation to majority multifamily. Amazon and tech-driven demand continues to grow, along with a resurgence of defense-related activity.

JBG SMITH reported its Q4 and full year 2021 results, showing a net loss attributable to common shareholders of $0.45 per diluted share. Same Store NOI increased 9.5% year-over-year, driven by higher occupancy and rents in the multifamily portfolio and a decrease in uncollectable operating lease receivables.

JBG SMITH reported a positive net income attributable to common shareholders of $0.9 million and Core FFO attributable to common shareholders of $42.5 million, or $0.32 per diluted share.

JBG SMITH reported a net loss attributable to common shareholders of $3.0 million, or $0.03 per share, and Core FFO attributable to common shareholders of $44.8 million, or $0.34 per share for the three months ended June 30, 2021. The company saw improvements in commercial and multifamily portfolios and progressed with development pipeline.

JBG SMITH reported a net loss attributable to common shareholders of $20.7 million, with Core FFO attributable to common shareholders at $49.6 million, or $0.38 per diluted share. Same Store NOI decreased by 9.2% to $75.9 million, though the company believes this decrease was substantially attributable to the COVID-19 pandemic.

JBG SMITH reported a net loss of $45.7 million for Q4 2020, with Core FFO at $32.7 million or $0.25 per share. Same Store NOI decreased by 10.6%, attributed to the COVID-19 pandemic. The company advanced its development pipeline, including the completion of 1770 Crystal Drive, and made a strategic acquisition in National Landing.

JBG SMITH reported a net loss attributable to common shareholders of $22.8 million, or $0.18 per diluted share. Core FFO attributable to common shareholders was $40.2 million, or $0.30 per diluted share. Same Store NOI decreased 4.4%.

JBG SMITH reported a net loss attributable to common shareholders of $36.8 million, impacted by the COVID-19 pandemic, but rent collections remained steady, with 98.6%, 98.5%, and 58.0% for office, residential, and retail, respectively. The company's concentration in the DC metro area, driven by Amazon, the federal government, and government contractors, is expected to provide resilience during the economic downturn. JBG SMITH has approximately $2 billion of liquidity and limited near-term debt maturities.

JBG SMITH reported a net income attributable to common shareholders of $42.9 million, or $0.32 per diluted share, and Core FFO attributable to common shareholders was $52.1 million, or $0.39 per diluted share for the first quarter of 2020.

JBG SMITH's Q4 2019 results reflect a company in transition, marked by strategic asset sales and recapitalizations aimed at maximizing long-term net asset value. While same-store NOI increased slightly, full-year figures showed a decline due to prior leasing strategies. The company is focused on high-growth areas like National Landing, bolstered by Amazon's HQ2 development.