JBG SMITH Properties (NYSE:JBGS) Sets New 52-Week High After Better-Than-Expected Earnings

Key Points

• JBG SMITH Properties stock reached a new 52-week high of $20.65 during mid-day trading, up from a previous close of $19.24.
• Evercore ISI raised its target price for JBG SMITH shares from $16.00 to $17.00, while maintaining an "underperform" rating.
• The company declared a quarterly dividend of $0.175, resulting in an annualized dividend yield of 3.24%.

JBG SMITH Properties (NYSE:JBGS - Get Free Report) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $20.25 and last traded at $20.65, with a volume of 141997 shares traded. The stock had previously closed at $19.24.

The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.73. The firm had revenue of $126.48 million during the quarter, compared to analysts' expectations of $116.76 million. JBG SMITH Properties had a negative return on equity of 9.20% and a negative net margin of 29.54%.

JBG SMITH Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 7th. JBG SMITH Properties's payout ratio is -37.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded JBG SMITH Properties from a "sell" rating to a "hold" rating in a research note on Saturday. Evercore ISI upped their target price on JBG SMITH Properties from $16.00 to $17.00 and gave the company an "underperform" rating in a research note on Monday, May 19th.

Insider Buying and Selling at JBG SMITH Properties

In other JBG SMITH Properties news, CIO George Laucks Xanders sold 5,600 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $21.57, for a total transaction of $120,792.00. Following the completion of the sale, the executive owned 2,750 shares of the company's stock, valued at approximately $59,317.50. The trade was a 67.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Angela Valdes sold 10,098 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $21.53, for a total value of $217,409.94. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On JBG SMITH Properties

A number of institutional investors have recently added to or reduced their stakes in JBGS. Northern Trust Corp boosted its position in shares of JBG SMITH Properties by 75.8% in the fourth quarter. Northern Trust Corp now owns 1,631,630 shares of the company's stock worth $25,078,000 after buying an additional 703,538 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of JBG SMITH Properties by 554.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 673,314 shares of the company's stock worth $10,847,000 after buying an additional 570,428 shares during the period. Invesco Ltd. boosted its position in shares of JBG SMITH Properties by 94.4% in the fourth quarter. Invesco Ltd. now owns 691,230 shares of the company's stock worth $10,624,000 after buying an additional 335,661 shares during the period. Nuveen LLC purchased a new stake in shares of JBG SMITH Properties in the first quarter worth about $4,364,000. Finally, Norges Bank purchased a new stake in shares of JBG SMITH Properties in the fourth quarter worth about $3,837,000. Hedge funds and other institutional investors own 98.46% of the company's stock.

JBG SMITH Properties Price Performance

The company has a 50-day moving average price of $18.06 and a two-hundred day moving average price of $16.26. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.54 and a quick ratio of 3.40. The company has a market cap of $1.29 billion, a PE ratio of -11.06 and a beta of 1.28.

About JBG SMITH Properties

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.