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Jun 30, 2022
JBG SMITH Q2 2022 Earnings Report
JBG SMITH's operating results improved amidst capital market volatility, rising interest rates, and high inflation, completing the 2022 recycling goal in the first half of the year.
Key Takeaways
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.
Closed on the sale of Pen Place to Amazon for $198 million for Phase II of HQ2.
Same Store NOI increased 13.8% year-over-year for the operating portfolio, driven by multifamily occupancy growth and strong commercial renewal leasing.
Closed on $993 million of capital recycling transactions year-to-date, with proceeds used to deleverage the balance sheet and create capacity for share repurchases.
Upsized the Credit Facility Term Loan by $200 million, extending the maturity date to January 2028.
Revenue by Segment
Forward Guidance
JBG SMITH is focused on growth and transformation, especially in National Landing, supported by strong demand drivers and a resilient Washington Metro Area economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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