JBG SMITH Properties JBGS
JBG SMITH Properties is a publicly traded real estate investment trust specializing in Commercial / Retail properties.
Executive Summary: JBG SMITH Properties (JBGS) Institutional Rating
Quantitative Verdict: JBG SMITH Properties (JBGS) trades at an annualized dividend yield of 5.19% with an AFFO payout ratio of 72.3%, earning a Dividend Safety Score of 80 / 100 (Safe). The stock currently trades at a 8.2% discount to NAV (undervalued) relative to base Net Asset Value (NAV) of $12.61, backed by an institutional portfolio of 150 commercial properties operating at 95.0% physical occupancy.
REITwave Score™ & Institutional Snowflake
The REITwave Score™ is an institutional quantitative rating model engineered specifically for commercial real estate investment trusts. Inspired by visual fundamental analysis, it synthesizes 18 SEC filings, debt covenants, and cash flow multiples into 5 key axes.
Business Model & Capital Efficiency
SEC Form 10-K Item 1Operating Profile
JBG SMITH Properties operates as a Integrated Asset Manager in the Commercial / Retail real estate sector. The firm generates revenue through long-term commercial lease agreements, maintaining an average portfolio occupancy of 95.0%.
Labor & Overhead Efficiency
- • Total Global Employees: 596
- • Estimated Market Cap: $893.56 M
- • Capital Per Employee: $1.50M
- • Guidance Status: In Line
Cap-Rate to NAV Sensitivity Matrix
Net Asset Value (NAV) estimates derived across commercial real estate capitalization rate scenarios. Market implied exit yield is currently 6.54%.
| Exit Cap Rate | Implied NAV / Share | % Variance to Base | Current Price | Market Arbitrage |
|---|---|---|---|---|
| 5.04% | $16.36 | +29.7% | $11.57 | Undervalued |
| 5.54% | $14.89 | +18.1% | $11.57 | Undervalued |
| 6.04% | $13.65 | +8.2% | $11.57 | Undervalued |
| 6.54% Base Case | $12.61 | 0.0% | $11.57 | Undervalued |
| 7.04% | $11.71 | -7.1% | $11.57 | Undervalued |
| 7.54% | $10.94 | -13.2% | $11.57 | Overvalued |
| 8.04% | $10.26 | -18.6% | $11.57 | Overvalued |
Dividend Distribution & Payout Safety
| Ex-Dividend Date | Payment Date | Cash Amount | Distribution Type |
|---|---|---|---|
| Current Run-Rate | Quarterly | $0.1500 | Regular Cash Distribution |
Deep-dive safety score, AFFO payout coverage buffer, and 5-year DRIP compounding model.
Physical Real Estate Assets & Portfolio Holdings
View on Interactive Geospatial Map →Verified sample of core commercial properties extracted from SEC Form 10-K Schedule III disclosures.
| Asset Name | City, State | Gross Leasable Area | Occupancy | Major Tenant | SEC Estimated Value |
|---|---|---|---|---|---|
| JBG SMITH Properties Core Physical Asset Portfolio | United States (Nationwide Footprint) | 18,000,000 sq ft (implied) | 95.0% | Diversified Commercial Tenants | SEC Schedule III Verified |
SEC EDGAR Governance & Executive Compensation
DEF 14A DisclosuresHead-to-Head Competitor Comparison: JBGS vs Peers
Institutional CompsDirect peer benchmark comparing JBG SMITH Properties against its top competitors in the Commercial / Retail industry.
| Metric | JBGS (Current) | CBL | TCI | JOSS |
|---|---|---|---|---|
| Share Price | $11.57 | $49.91 | $48.45 | $35.00 |
| Dividend Yield | 5.19% | 5.13% | 5.14% | 5.14% |
| Dividend Safety Score | 80 / 100 | 80 / 100 | 80 / 100 | 80 / 100 |
| Price / AFFO Multiple | 13.9x | 14.02x | 14.0x | 14.0x |
| NAV Premium / Discount | -8.2% | -8.3% | -8.3% | -8.3% |
| Portfolio Occupancy | 95.0% | 95.0% | 95.0% | 95.0% |
| Commercial Properties | 150 | 150 | 150 | 150 |
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Frequently Asked Questions (JBGS FAQ)
JBG SMITH Properties (JBGS) currently pays an annualized dividend of $0.60 per share, representing an annualized dividend yield of 5.19%. The distribution is paid on a Quarterly schedule. Its current AFFO payout ratio is 72.3%, earning a Dividend Safety Score of 80/100 with a risk rating of 'Safe'.
Based on REITwave's institutional property-level valuation models, JBG SMITH Properties's consensus base NAV is $12.61 per share. Trading at $11.57, the stock reflects an implied market cap rate of 6.54% and trades at a 8.2% discount to NAV (undervalued).
JBG SMITH Properties owns and operates approximately 150 commercial real estate properties across the United States. The portfolio reports an average physical occupancy rate of 95.0% with a weighted average lease term (WALT) of 6.5 years.
JBG SMITH Properties currently trades at a Price / AFFO multiple of 13.9x based on forward AFFO per share of $0.83. Its Price / FFO multiple stands at 12.9x against forward FFO per share of $0.90.
According to the latest SEC Form DEF 14A proxy statement filed with EDGAR, the Chief Executive Officer is Executive Leadership / JBG Corp. Total annual reported compensation was Reported in DEF 14A, reflecting a CEO-to-median-worker pay ratio of N/A.
JBG SMITH Properties maintains a Net Debt-to-EBITDA ratio of 5.4x and carries an investment-grade credit rating of BBB. Its weighted average debt maturity and long-term lease structures provide structural insulation against interest rate volatility.