Bank of America Corp DE Buys New Holdings in JBG SMITH Properties $JBGS

Key Points

• Bank of America initiated a position in JBG SMITH Properties during the second quarter, purchasing 303,537 shares valued at approximately $4.45 million, or 0.52% of the company.
• Institutional ownership remains very high at 98.46%, with BlackRock, Bank of New York Mellon and other funds also reporting new stakes in JBGS.
• JBGS shares opened at $10.20, near their 52-week low, while analysts maintained a bearish outlook: the stock has a consensus “Strong Sell” rating and a $14.67 target price. The company also pays a $0.175 quarterly dividend, implying a 6.9% yield.

Bank of America Corp DE bought a new position in JBG SMITH Properties (NYSE:JBGS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 303,537 shares of the company's stock, valued at approximately $4,453,000. Bank of America Corp DE owned 0.52% of JBG SMITH Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBGS. BlackRock Inc. bought a new stake in shares of JBG SMITH Properties in the 2nd quarter worth approximately $164,185,000. Bank of New York Mellon Corp bought a new stake in JBG SMITH Properties in the second quarter valued at $6,687,000. Marnell Management LLC bought a new stake in JBG SMITH Properties in the fourth quarter valued at $6,557,000. Legal & General Group Plc bought a new stake in JBG SMITH Properties in the second quarter valued at $4,893,000. Finally, Yorkville Advisors Global LP purchased a new position in JBG SMITH Properties during the 1st quarter valued at $2,103,000. 98.46% of the stock is currently owned by institutional investors.

JBG SMITH Properties Stock Down 3.1%

NYSE:JBGS opened at $10.20 on Tuesday. The firm's 50-day moving average price is $12.17 and its 200-day moving average price is $13.88. The company has a market capitalization of $597.57 million, a PE ratio of -3.91 and a beta of 1.07. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.89 and a quick ratio of 4.89. JBG SMITH Properties has a 1-year low of $10.13 and a 1-year high of $22.38.

JBG SMITH Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, August 13th. JBG SMITH Properties's dividend payout ratio (DPR) is presently -26.82%.

Wall Street Analyst Weigh In

Several brokerages have commented on JBGS. Wall Street Zen lowered shares of JBG SMITH Properties from a "hold" rating to a "sell" rating in a report on Saturday. Evercore reaffirmed an "underperform" rating and set a $12.00 target price on shares of JBG SMITH Properties in a research note on Monday, September 21st. BMO Capital Markets reiterated an "underperform" rating on shares of JBG SMITH Properties in a research report on Tuesday, August 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of JBG SMITH Properties in a research note on Friday, September 4th. Finally, Capital One Financial set a $13.00 price objective on shares of JBG SMITH Properties in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and a consensus target price of $14.67.

About JBG SMITH Properties

JBG SMITH Properties is a real estate investment trust that owns, operates and develops mixed-use, multifamily and office properties in the Washington, DC, metropolitan area. The company's portfolio includes residential communities, office buildings, retail spaces and development sites designed to support urban living and employment.

JBG SMITH has a significant presence in National Landing, the Virginia area encompassing parts of Arlington County and the City of Alexandria, including Pentagon City, Crystal City and Potomac Yard.

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