Long Pond Capital LP Decreases Position in JBG SMITH Properties $JBGS

Key Points

• Long Pond Capital LP has reduced its stake in JBG SMITH Properties by 43.1%, now holding approximately 3.6 million shares valued at around $58 million, which represents about 3.8% of its total portfolio.
• Despite the decrease by Long Pond, several other hedge funds, including AlphaQuest LLC and Hsbc Holdings PLC, have increased their investments in JBG SMITH Properties during the same period.
• The company recently reported better-than-expected earnings results with a net EPS of $0.19 versus an estimate of ($0.54), and also declared a quarterly dividend of $0.175 per share, yielding 3.4%.

Long Pond Capital LP decreased its holdings in JBG SMITH Properties (NYSE:JBGS - Free Report) by 43.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,603,883 shares of the company's stock after selling 2,731,949 shares during the quarter. JBG SMITH Properties comprises about 3.8% of Long Pond Capital LP's portfolio, making the stock its 11th biggest position. Long Pond Capital LP owned approximately 4.93% of JBG SMITH Properties worth $58,059,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in JBGS. AlphaQuest LLC raised its stake in JBG SMITH Properties by 47.2% in the first quarter. AlphaQuest LLC now owns 44,950 shares of the company's stock valued at $724,000 after buying an additional 14,419 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of JBG SMITH Properties by 8.2% during the first quarter. Hsbc Holdings PLC now owns 74,540 shares of the company's stock worth $1,201,000 after acquiring an additional 5,656 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of JBG SMITH Properties during the first quarter valued at about $657,000. Northern Trust Corp raised its position in shares of JBG SMITH Properties by 1.9% in the 1st quarter. Northern Trust Corp now owns 1,662,628 shares of the company's stock valued at $26,785,000 after purchasing an additional 30,998 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of JBG SMITH Properties in the 1st quarter valued at approximately $231,000. 98.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JBGS. Evercore ISI upped their price target on shares of JBG SMITH Properties from $16.00 to $17.00 and gave the company an "underperform" rating in a research note on Monday, May 19th. Wall Street Zen raised shares of JBG SMITH Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, JBG SMITH Properties presently has an average rating of "Sell" and a consensus target price of $16.00.

Insiders Place Their Bets

In related news, CAO Angela Valdes sold 10,098 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $21.53, for a total transaction of $217,409.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CIO George Laucks Xanders sold 5,600 shares of JBG SMITH Properties stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $21.57, for a total transaction of $120,792.00. Following the completion of the transaction, the executive directly owned 2,750 shares of the company's stock, valued at $59,317.50. The trade was a 67.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

JBG SMITH Properties Stock Up 1.4%

NYSE:JBGS opened at $20.5840 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.54 and a quick ratio of 3.54. The company's fifty day moving average price is $18.83 and its 200-day moving average price is $16.77. JBG SMITH Properties has a 1-year low of $13.28 and a 1-year high of $22.45. The firm has a market capitalization of $1.27 billion, a P/E ratio of -10.89 and a beta of 1.28.

JBG SMITH Properties (NYSE:JBGS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.54) by $0.73. The company had revenue of $126.48 million for the quarter, compared to analyst estimates of $116.76 million. JBG SMITH Properties had a negative net margin of 29.54% and a negative return on equity of 9.20%.

JBG SMITH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.70 dividend on an annualized basis and a yield of 3.4%. JBG SMITH Properties's dividend payout ratio is -37.04%.

JBG SMITH Properties Company Profile

JBG SMITH Properties is a real estate investment trust, which engages in owning, operating, investing in, and developing a portfolio of mixed-use properties. It operates through the following segments: Multifamily, Commercial, and Other. The Multifamily segment refers to the commercial buildings with public areas, retail spaces, and walkable streets.

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