JBG SMITH Properties
Market Cap
US$4.6b
Last Updated
2020/06/03 14:09 UTC
Data Sources
Company Financials +
Executive Summary
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -144.1% per year for the next 3 years
+ 2 more risks
Snowflake Analysis
Proven track record unattractive dividend payer.
Share Price & News
How has JBG SMITH Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: JBGS's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
0.4%
JBGS
4.6%
US REITs
2.9%
US Market
1 Year Return
-22.2%
JBGS
-7.2%
US REITs
8.9%
US Market
Return vs Industry: JBGS underperformed the US REITs industry which returned -8.6% over the past year.
Return vs Market: JBGS underperformed the US Market which returned 8.5% over the past year.
Shareholder returns
| JBGS | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | 4.6% | 2.9% |
| 30 Day | -4.1% | 11.3% | 10.6% |
| 90 Day | -20.4% | -9.8% | 5.1% |
| 1 Year | -20.2%-22.2% | -3.3%-7.2% | 11.4%8.9% |
| 3 Year | n/a | 16.7%2.3% | 34.3%25.4% |
| 5 Year | n/a | 47.8%17.6% | 60.7%42.7% |
Price Volatility Vs. Market
How volatile is JBG SMITH Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Is JBG SMITH Properties (NYSE:JBGS) Potentially Undervalued?1 month ago | Simply Wall St
Are Poor Financial Prospects Dragging Down JBG SMITH Properties (NYSE:JBGS Stock?Valuation
Is JBG SMITH Properties undervalued compared to its fair value and its price relative to the market?
51.15x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: JBGS ($31.05) is trading above our estimate of fair value ($22.45)
Significantly Below Fair Value: JBGS is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: JBGS is poor value based on its PE Ratio (51.2x) compared to the REITs industry average (28x).
PE vs Market: JBGS is poor value based on its PE Ratio (51.2x) compared to the US market (15.8x).
Price to Earnings Growth Ratio
PEG Ratio: JBGS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: JBGS is good value based on its PB Ratio (1.2x) compared to the US REITs industry average (1.4x).
Next Steps
Future Growth
How is JBG SMITH Properties forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-144.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: JBGS's earnings are forecast to decline over the next 3 years (-144.1% per year).
Earnings vs Market: JBGS's earnings are forecast to decline over the next 3 years (-144.1% per year).
High Growth Earnings: JBGS's earnings are forecast to decline over the next 3 years.
Revenue vs Market: JBGS's revenue is expected to decline over the next 3 years (-8.6% per year).
High Growth Revenue: JBGS's revenue is forecast to decline over the next 3 years (-8.6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if JBGS's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has JBG SMITH Properties performed over the past 5 years?
6.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: JBGS has a large one-off gain of $95.9M impacting its March 31 2020 financial results.
Growing Profit Margin: JBGS's current net profit margins (12.6%) are higher than last year (10.2%).
Past Earnings Growth Analysis
Earnings Trend: JBGS's earnings have grown by 6.6% per year over the past 5 years.
Accelerating Growth: JBGS's earnings growth over the past year (22.7%) exceeds its 5-year average (6.6% per year).
Earnings vs Industry: JBGS earnings growth over the past year (22.7%) exceeded the REITs industry 5.3%.
Return on Equity
High ROE: JBGS's Return on Equity (2.4%) is considered low.
Next Steps
Financial Health
How is JBG SMITH Properties's financial position?
Financial Position Analysis
Short Term Liabilities: JBGS's short term assets ($632.7M) exceed its short term liabilities ($193.1M).
Long Term Liabilities: JBGS's short term assets ($632.7M) do not cover its long term liabilities ($2.0B).
Debt to Equity History and Analysis
Debt Level: JBGS's debt to equity ratio (44.7%) is considered high.
Reducing Debt: Insufficient data to determine if JBGS's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: JBGS's debt is not well covered by operating cash flow (11.1%).
Interest Coverage: JBGS's interest payments on its debt are not well covered by EBIT (0.9x coverage).
Balance Sheet
Next Steps
Dividend
What is JBG SMITH Properties's current dividend yield, its reliability and sustainability?
2.90%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: JBGS's dividend (2.9%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: JBGS's dividend (2.9%) is low compared to the top 25% of dividend payers in the US market (4.48%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, JBGS has been paying a dividend for less than 10 years.
Growing Dividend: JBGS has only been paying a dividend for 3 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.5%), JBGS's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.9yrs
Average management tenure
CEO
Matt Kelly (46yo)
2.92yrs
Tenure
US$4,893,799
Compensation
Mr. W. Matthew Kelly, also known as Matt, serves as Chief Executive Officer and a Member of the Board of JBG SMITH Properties (JBG”). Mr. Kelly worked at JBG from August 2004 up until the formation transac ...
CEO Compensation Analysis
Compensation vs Market: Matt's total compensation ($USD4.89M) is about average for companies of similar size in the US market ($USD5.90M).
Compensation vs Earnings: Matt's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Trustee | 2.92yrs | US$4.89m | 0.037% $1.7m | |
| President & COO | 2.92yrs | US$3.24m | 0.022% $1.0m | |
| Chief Financial Officer | 2.92yrs | US$2.20m | 0.0026% $119.9k | |
| Chief Development Officer | 2.92yrs | US$2.13m | 0.015% $688.4k | |
| Executive VP & Head of Capital Markets | 1.5yrs | US$1.61m | 0.0037% $171.9k | |
| Executive Vice Chairman | 2.92yrs | US$3.62m | 0.065% $3.0m | |
| Chief Accounting Officer | no data | no data | no data | |
| Chief Administrative Officer | no data | no data | no data | |
| Senior Vice President of Investor Relations | 3.42yrs | no data | no data | |
| Chief Legal Officer & Corporate Secretary | 2.92yrs | no data | no data |
2.9yrs
Average Tenure
56yo
Average Age
Experienced Management: JBGS's management team is considered experienced (2.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Trustee | 2.92yrs | US$4.89m | 0.037% $1.7m | |
| Executive Vice Chairman | 2.92yrs | US$3.62m | 0.065% $3.0m | |
| Independent Trustee | 2.92yrs | US$214.99k | 0.056% $2.6m | |
| Independent Trustee | 2.92yrs | US$214.99k | 0.0019% $85.9k | |
| Chairman of the Board | 2.92yrs | US$199.99k | 1.13% $52.0m | |
| Independent Trustee | 2.92yrs | US$204.99k | no data | |
| Independent Trustee | 2.92yrs | US$219.99k | no data | |
| Independent Trustee | 2.92yrs | US$229.99k | 0.015% $687.9k | |
| Independent Trustee | 2.92yrs | US$214.99k | no data | |
| 2.92yrs | US$292.85k | no data |
2.9yrs
Average Tenure
63.5yo
Average Age
Experienced Board: JBGS's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: JBGS insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
JBG SMITH Properties's company bio, employee growth, exchange listings and data sources
Key Information
- Name: JBG SMITH Properties
- Ticker: JBGS
- Exchange: NYSE
- Founded: 2016
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$4.595b
- Market Cap: US$4.148b
- Shares outstanding: 148.00m
- Website: https://www.jbgsmith.com
Number of Employees
Location
- JBG SMITH Properties
- 4747 Bethesda Avenue
- Suite 200
- Bethesda
- Maryland
- 20814
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| JBGS | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jul 2017 |
| JBG | MUN (Boerse Muenchen) | Yes | Common Shares | DE | EUR | Jul 2017 |
Biography
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s portfolio currently comprises 20.8 million square feet of high-growth office, multifamily and retail assets, 98% at our share of which are Metro-served. It also maintains a robust future development pipeline encompassing 16.7 million square feet of mixed-use development opportunities.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/03 14:09 |
| End of Day Share Price | 2020/06/02 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.