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Sep 30, 2022
JBG SMITH Q3 2022 Earnings Report
JBG SMITH's core business performed well amidst capital market uncertainty, completing dispositions and capitalizing on share price disconnect.
Key Takeaways
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.
Completed $1 billion of dispositions in advance of year-end goal.
Repurchased 14.2 million shares year-to-date at a weighted average price of $25.49.
Refinanced and upsized Tranche A-2 Term Loan to $400 million in July.
Concentrated portfolio in recession-resilient Washington, DC metro area with assets near National Landing.
Forward Guidance
Capital markets are expected to remain less active, and reduced activity is expected to continue well into next year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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