Company research
JBG SMITH Properties
CIK 1689796Updated Sep 27, 2026
SecurityJBGS · NYSE · equity
JBGS price & chart
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NYSE:JBGS on TradingView ↗About the company
JBG SMITH owns, operates, and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, where through our focus on placemaking, we cultivate vibrant, highly amenitized, walkable neighborhoods. JBG SMITH's portfolio comprises 11.8 million square feet at share of multifamily, office, and retail assets, and a 3.5 million square-foot development pipeline. For more information on JBG SMITH please visit www.jbgsmith.com.
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Recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
SCHEDULE 13G filing
4 filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 4,388,191,000Source | 5,020,540,000Source | 5,518,515,000Source | 5,903,438,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 30,333,000Source | 47,000,000Source | 56,616,000Source | 162,246,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 75,270,000Source | 145,804,000Source | 164,773,000Source | 241,098,000Source |
| Accounts Receivable | — | — | — | — |
| Operating Lease, Right-of-Use AssetUSD | 41,491,000Source | 44,034,000Source | 60,329,000Source | 1,383,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 2,719,259,000Source | 2,787,850,000Source | 2,825,929,000Source | 2,708,016,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | — | 846,000Source | 944,000Source | 1,141,000Source |
| Additional Paid in CapitalUSD | 2,338,881,000Source | 2,790,403,000Source | 2,978,852,000Source | 3,263,738,000Source |
| Retained Earnings (Accumulated Deficit)USD | -1,180,410,000Source | -997,283,000Source | -776,962,000Source | -628,636,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -1,613,000Source | 15,092,000Source | 20,042,000Source | 45,644,000Source |
| Stockholders' Equity Attributable to ParentUSD | — | 1,809,058,000Source | 2,222,876,000Source | 2,681,887,000Source |
| Liabilities and EquityUSD | 4,388,191,000Source | 5,020,540,000Source | 5,518,515,000Source | 5,903,438,000Source |
| Deferred Income Tax Liabilities, NetUSD | — | 3,917,000Source | 3,326,000Source | 4,903,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | — | — | 28,973,000Source | 32,225,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | — | 3,917,000Source | 3,326,000Source | 4,903,000Source |
| Dividends PayableUSD | 13,124,000Source | 17,611,000Source | — | 29,621,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | 511,342,000Source | 423,632,000Source | 440,737,000Source | 481,310,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -168,061,000Source | -177,753,000Source | -91,709,000Source | 98,986,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 197,473,000Source | 214,992,000Source | 215,628,000Source | 217,841,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 24,856,000Source | 29,524,000Source | 32,100,000Source | 41,272,000Source |
| Deferred Income Tax Expense (Benefit)USD | -3,916,000Source | 591,000Source | -1,578,000Source | -437,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 73,257,000Source | 129,393,000Source | 183,372,000Source | 178,037,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 357,315,000Source | 144,155,000Source | -98,179,000Source | 524,021,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 443,654,000Source | 170,770,000Source | 335,313,000Source | 361,042,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -510,474,000Source | -290,797,000Source | -158,825,000Source | -730,080,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 48,434,000Source | 62,007,000Source | 94,002,000Source | 107,688,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -79,902,000Source | -17,249,000Source | -73,632,000Source | -28,022,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 103,290,000Source | 183,192,000Source | 200,441,000Source | 274,073,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 128,281,000Source | 116,342,000Source | 88,755,000Source | 71,861,000Source |
| Income Taxes Paid, NetUSD | 61,000Source | 117,000Source | 1,916,000Source | 1,205,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 24,856,000Source | 29,524,000Source | 32,100,000Source | 41,272,000Source |
| Debt and Equity Securities, Gain (Loss)USD | 1,637,000Source | 3,358,000Source | 972,000Source | 14,488,000Source |
| Derivative, Gain (Loss) on Derivative, NetUSD | — | — | — | -304,000Source |
| Dividends PayableUSD | 13,124,000Source | 17,611,000Source | — | 29,621,000Source |
| Equity Securities, FV-NI, Realized Gain (Loss)USD | 425,000Source | — | — | — |
| Equity Securities, FV-NI, Unrealized Gain (Loss)USD | 1,504,000Source | — | — | — |
| Gain (Loss) Related to Litigation SettlementUSD | — | — | 6,000,000Source | — |
| Gain (Loss) on Extinguishment of DebtUSD | -2,402,000Source | 9,235,000Source | -450,000Source | -3,073,000Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | 46,633,000Source | -2,753,000Source | 79,335,000Source | 161,894,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | -4,420,000Source | -7,122,000Source | -26,999,000Source | -17,429,000Source |
| Income Tax Expense (Benefit)USD | -3,830,000Source | 762,000Source | -296,000Source | 1,264,000Source |
| InterestExpenseNonoperatingUSD | 142,037,000Source | 134,068,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | -139,063,000Source | -143,526,000Source | -79,978,000Source | 85,371,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -140,852,000Source | -145,989,000Source | -82,032,000Source | 83,511,000Source |
| Nonoperating Income (Expense)USD | -163,862,000Source | -178,537,000Source | -131,219,000Source | 84,079,000Source |
| Operating Lease, ExpenseUSD | — | — | 201,717,000Source | 212,171,000Source |
| Operating Lease, Lease IncomeUSD | 416,801,000Source | 456,950,000Source | 483,159,000Source | 491,738,000Source |
| Proceeds from Noncontrolling InterestsUSD | — | — | — | 9,383,000Source |
| Real Estate Tax ExpenseUSD | 48,863,000Source | 52,606,000Source | 57,668,000Source | 62,167,000Source |
| Share-based Payment Arrangement, Expensed and Capitalized, AmountUSD | 25,938,000Source | 31,451,000Source | 34,412,000Source | 44,994,000Source |
| Unrealized Gain (Loss) on DerivativesUSD | 87,000Source | -83,000Source | -7,822,000Source | 7,355,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 498,598,000Source | 547,312,000Source | 604,198,000Source | 605,824,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -171,891,000Source | -176,991,000Source | -92,005,000Source | 100,250,000Source |
| Income Tax Expense (Benefit)USD | -3,830,000Source | 762,000Source | -296,000Source | 1,264,000Source |
| Net Income (Loss) Attributable to ParentUSD | -139,063,000Source | -143,526,000Source | -79,978,000Source | 85,371,000Source |
| Earnings Per Share, BasicUSD per share | -2.09Source | -1.65Source | -0.78Source | 0.7Source |
| Earnings Per Share, DilutedUSD per share | -2.09Source | -1.65Source | -0.78Source | 0.7Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 67,361,000Source | 88,330,000Source | 105,095,000Source | 119,005,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 67,361,000Source | 88,330,000Source | 105,095,000Source | 119,005,000Source |
| Interest Expense (non-operating)USD | 142,037,000Source | 134,068,000Source | — | — |
| Additional Financial Items | ||||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 0.7Source | 0.88Source | 0.68Source | 0.9Source |
| Costs and ExpensesUSD | 506,627,000Source | 545,766,000Source | 564,984,000Source | 589,653,000Source |
| Current Income Tax Expense (Benefit)USD | 86,000Source | 171,000Source | 1,282,000Source | 1,701,000Source |
| Debt and Equity Securities, Gain (Loss)USD | 1,637,000Source | 3,358,000Source | 972,000Source | 14,488,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 190,064,000Source | 208,180,000Source | 210,195,000Source | 213,771,000Source |
| Direct Costs of Leased and Rented Property or EquipmentUSD | 141,714,000Source | 146,609,000Source | 144,049,000Source | 150,004,000Source |
| Equity Securities, FV-NI, Realized Gain (Loss)USD | 425,000Source | — | — | — |
| Gain (Loss) Related to Litigation SettlementUSD | — | — | 6,000,000Source | — |
| Gains (Losses) on Sales of Investment Real EstateUSD | 46,633,000Source | -2,753,000Source | 79,335,000Source | 161,894,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | -4,420,000Source | -7,122,000Source | -26,999,000Source | -17,429,000Source |
| Interest ExpenseUSD | — | — | 108,660,000Source | 75,930,000Source |
| Investment Income, NetUSD | 4,211,000Source | 11,598,000Source | 15,781,000Source | 18,617,000Source |
| Net Income (Loss) Attributable to Nonredeemable Noncontrolling InterestUSD | — | -12,025,000Source | -1,135,000Source | 371,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -140,852,000Source | -145,989,000Source | -82,032,000Source | 83,511,000Source |
| Nonoperating Income (Expense)USD | -163,862,000Source | -178,537,000Source | -131,219,000Source | 84,079,000Source |
| Operating Lease, ExpenseUSD | — | — | 201,717,000Source | 212,171,000Source |
| Operating Lease, Lease IncomeUSD | 416,801,000Source | 456,950,000Source | 483,159,000Source | 491,738,000Source |
| Other General and Administrative ExpenseUSD | 59,169,000Source | 58,790,000Source | 54,838,000Source | 58,280,000Source |
| Other IncomeUSD | 19,570,000Source | 20,897,000Source | 28,988,000Source | 25,064,000Source |
| Real Estate Tax ExpenseUSD | 48,863,000Source | 52,606,000Source | 57,668,000Source | 62,167,000Source |
| Share-based Payment Arrangement, Expensed and Capitalized, AmountUSD | 25,938,000Source | 31,451,000Source | 34,412,000Source | 44,994,000Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | 1,789,000Source | 2,463,000Source | 2,054,000Source | 1,860,000Source |
Filing attachments
jbgs-20260810xex99d1.htm · 8-K · 2026-08-10
EX-99.1 2 jbgs-20260810xex99d1.htm EX-99.1 Management Letter August 10, 2026 Our Fellow Shareholders: The second quarter unfolded against a backdrop of continued macroeconomic uncertainty. The conflict in the Middle East disrupted global energy markets and complicated the inflation outlook, while elevated interest rates, wider risk premiums, and higher return requirements continued to weigh on real estate capital markets. With inflation risks lingering and the labor market slowing, the Fe…
Read attachment ↗jbgs-20260505xex99d1.htm · 8-K · 2026-05-05
EX-99.1 2 jbgs-20260505xex99d1.htm EX-99.1 Management Letter May 5, 2026 Our Fellow Shareholders: The year began with real momentum across the real estate capital markets. Transaction volumes were gradually building, debt costs had moderated from 2024 peaks, and interest rates appeared to be gradually declining. That constructive backdrop has since grown more complicated. Heightened geopolitical tensions in the Middle East have contributed to renewed volatility in global energy markets, c…
Read attachment ↗jbgs-20260217xex99d1.htm · 8-K · 2026-02-17
EX-99.1 2 jbgs-20260217xex99d1.htm EX-99.1 Management Letter February 17, 2026 Our Fellow Shareholders: As we begin 2026, the macro-economic environment remains mixed and defined by uneven growth, shifting interest-rate expectations, and continued uncertainty around federal spending. Yet even with this backdrop, the DC region appears to be finding its footing. The federal workforce has absorbed the bulk of last year’s adjustments, and with Congress restoring funding in several key areas a…
Read attachment ↗jbgs-20251028xex99d1.htm · 8-K · 2025-10-28
EX-99.1 2 jbgs-20251028xex99d1.htm EX-99.1 Management Letter October 28, 2025 Our Fellow Shareholders: The third quarter showcased our team’s ability to execute on our strategic priorities, even as the broader economic environment remained uncertain. We made meaningful progress across our portfolio, driven by strong leasing momentum, disciplined capital allocation, and the continued transformation of National Landing into a vibrant, mixed-use destination. Notably, we accelerated office le…
Read attachment ↗jbgs-20250729xex99d1.htm · 8-K · 2025-07-29
EX-99.1 2 jbgs-20250729xex99d1.htm EX-99.1 Management Letter July 29, 2025 Our Fellow Shareholders: As we close the second quarter of 2025, we remain steadfast in our commitment to long-term NAV per share growth, even as macroeconomic and political uncertainties persist. The evolving federal landscape continues to shape the DC real estate market. Notably, the adverse impact of federal spending cuts and headcount reductions appears to be materializing. We continue to expect uncertain econo…
Read attachment ↗jbgs-20250429xex99d1.htm · 8-K · 2025-04-29
EX-99.1 2 jbgs-20250429xex99d1.htm EX-99.1 JBGS Divider Management Letter April 29, 2025 Our Fellow Shareholders: The past few months have brought continued uncertainty and buffeting headwinds to the DC metro economy. As we expressed last quarter, it remains too early to tell how political events will impact economic activity, but a few themes are emerging. First, DC seems headed for some sort of slowdown in economic growth. This slowdown may result from layoffs (if the high end of annou…
Read attachment ↗