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

Key Points

• Bank of America cut its JBG SMITH Properties stake by 67.6% in the first quarter, selling 381,303 shares and retaining 182,636 shares worth approximately $2.7 million. Institutional investors collectively own 98.46% of the company.
• JBG SMITH Properties shares opened at $12.07, near the lower end of their 52-week range of $10.77 to $24.30. The company maintains a quarterly dividend of $0.175 per share, representing a 5.8% annualized yield.
• Analyst sentiment remains negative: three analysts rate the stock “Sell,” producing a consensus rating of “Strong Sell” and a consensus price target of $16.67.

Bank of America Corp DE lessened its stake in shares of JBG SMITH Properties (NYSE:JBGS - Free Report) by 67.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,636 shares of the company's stock after selling 381,303 shares during the quarter. Bank of America Corp DE owned 0.31% of JBG SMITH Properties worth $2,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Long Pond Capital LP grew its position in JBG SMITH Properties by 28.4% in the fourth quarter. Long Pond Capital LP now owns 4,147,399 shares of the company's stock valued at $70,547,000 after acquiring an additional 918,505 shares in the last quarter. Morgan Stanley boosted its stake in shares of JBG SMITH Properties by 56.5% in the fourth quarter. Morgan Stanley now owns 3,376,120 shares of the company's stock valued at $57,428,000 after purchasing an additional 1,218,460 shares during the period. Wellington Management Group LLP purchased a new position in shares of JBG SMITH Properties in the third quarter valued at $15,125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in JBG SMITH Properties by 554.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 673,314 shares of the company's stock valued at $10,847,000 after purchasing an additional 570,428 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in JBG SMITH Properties by 0.4% during the 4th quarter. Invesco Ltd. now owns 589,873 shares of the company's stock valued at $10,034,000 after purchasing an additional 2,299 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company's stock.

JBG SMITH Properties Price Performance

Shares of JBGS opened at $12.07 on Tuesday. The stock has a 50 day moving average of $13.60 and a 200-day moving average of $14.48. JBG SMITH Properties has a 52 week low of $10.77 and a 52 week high of $24.30. The firm has a market cap of $707.06 million, a price-to-earnings ratio of -4.62 and a beta of 1.07. The company has a current ratio of 4.89, a quick ratio of 4.89 and a debt-to-equity ratio of 2.35.

JBG SMITH Properties Announces Dividend

The business 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 $0.175 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.70 annualized dividend and a dividend yield of 5.8%. JBG SMITH Properties's dividend payout ratio is -26.82%.

Insider Buying and Selling at JBG SMITH Properties

In related news, insider Steven A. Museles sold 20,010 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $15.01, for a total transaction of $300,350.10. Following the completion of the transaction, the insider owned 12,032 shares in the company, valued at $180,600.32. The trade was a 62.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JBGS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JBG SMITH Properties in a research note on Monday, June 8th. Wall Street Zen downgraded JBG SMITH Properties from a "hold" rating to a "sell" rating in a report on Saturday. BMO Capital Markets reaffirmed an "underperform" rating on shares of JBG SMITH Properties in a research report on Tuesday, August 4th. Finally, Capital One Financial set a $13.00 target price on JBG SMITH Properties in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Sell rating, According to MarketBeat.com, JBG SMITH Properties presently has a consensus rating of "Strong Sell" and a consensus target price of $16.67.

JBG SMITH Properties Company Profile

JBG SMITH Properties is a publicly traded real estate investment trust specializing in the acquisition, development and management of mixed-use properties in the Washington, DC metropolitan area. The company's portfolio encompasses office, residential, retail, hotel and entertainment assets, with a strategic focus on high-growth urban and transit-oriented neighborhoods in the District of Columbia, Northern Virginia and suburban Maryland.

The company actively develops large-scale, mixed-use communities designed to integrate living, working and leisure spaces.

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