Bank of New York Mellon Corp Invests $6.69 Million in JBG SMITH Properties $JBGS

Key Points

• Bank of New York Mellon acquired a new 455,801-share stake in JBG SMITH Properties worth approximately $6.69 million, representing about 0.78% of the company. Institutional investors collectively own 98.46% of outstanding shares.
• Analyst sentiment remains negative: JBG SMITH has an average “Strong Sell” rating, with three sell ratings and a consensus price target of $16.67. Wall Street Zen recently downgraded the stock to “sell,” while BMO Capital Markets maintained “underperform.”
• JBGS shares opened at $11.77, near the lower end of their 52-week range, while the company continues to pay a quarterly dividend of $0.175, equivalent to a 5.9% annualized yield.

Bank of New York Mellon Corp purchased a new stake in JBG SMITH Properties (NYSE:JBGS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 455,801 shares of the company's stock, valued at approximately $6,687,000. Bank of New York Mellon Corp owned about 0.78% of JBG SMITH Properties at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in JBG SMITH Properties by 151.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,637 shares of the company's stock worth $36,000 after buying an additional 987 shares during the period. Smartleaf Asset Management LLC boosted its position in JBG SMITH Properties by 51.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,244 shares of the company's stock valued at $38,000 after purchasing an additional 765 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of JBG SMITH Properties in the 4th quarter valued at about $39,000. EverSource Wealth Advisors LLC grew its holdings in JBG SMITH Properties by 113.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,273 shares of the company's stock worth $57,000 after purchasing an additional 1,741 shares during the last quarter. Finally, State of Wyoming purchased a new position in JBG SMITH Properties during the 2nd quarter worth $72,000. 98.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on JBGS shares. Wall Street Zen lowered JBG SMITH Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Capital One Financial set a $13.00 price objective on shares of JBG SMITH Properties in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JBG SMITH Properties in a research note on Monday, June 8th. Finally, BMO Capital Markets reaffirmed an "underperform" rating on shares of JBG SMITH Properties in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and a consensus price target of $16.67.

JBG SMITH Properties Stock Performance

Shares of JBGS stock opened at $11.77 on Friday. JBG SMITH Properties has a 52 week low of $10.77 and a 52 week high of $24.30. The stock has a market capitalization of $689.49 million, a PE ratio of -4.51 and a beta of 1.07. The company has a quick ratio of 4.89, a current ratio of 4.89 and a debt-to-equity ratio of 2.35. The firm has a 50 day moving average of $13.45 and a two-hundred day moving average of $14.39.

JBG SMITH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a $0.175 dividend. The ex-dividend date was Thursday, August 13th. This represents a $0.70 annualized dividend and a yield of 5.9%. JBG SMITH Properties's dividend payout ratio is presently -26.82%.

Insider Activity at JBG SMITH Properties

In other news, insider Steven 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 sale, the insider owned 12,032 shares of the company's stock, valued at $180,600.32. The trade was a 62.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is owned by company insiders.

JBG SMITH Properties 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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