JBG SMITH Properties (NYSE:JBGS) Sets New 12-Month High After Strong 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) shares reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $20.25 and last traded at $20.65, with a volume of 141997 shares. 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. JBG SMITH Properties had a negative return on equity of 9.20% and a negative net margin of 29.54%. The company had revenue of $126.48 million for the quarter, compared to analysts' expectations of $116.76 million.

JBG SMITH Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, August 7th. This represents a $0.70 annualized dividend and a yield of 3.3%. JBG SMITH Properties's payout ratio is presently -37.04%.

Analyst Ratings Changes

JBGS has been the topic of several recent analyst reports. Wall Street Zen upgraded JBG SMITH Properties from a "sell" rating to a "hold" rating in a research report on Saturday. Evercore ISI boosted their target price on JBG SMITH Properties from $16.00 to $17.00 and gave the stock an "underperform" rating in a research report on Monday, May 19th.

Insider Buying and Selling

In related news, CIO George Laucks Xanders sold 5,600 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $21.57, for a total value of $120,792.00. Following the sale, the executive owned 2,750 shares in the company, valued at $59,317.50. This represents a 67.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Angela Valdes sold 10,098 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 and hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of JBG SMITH Properties by 1.0% in the 1st quarter. Citigroup Inc. now owns 3,166,389 shares of the company's stock worth $51,011,000 after acquiring an additional 29,805 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of JBG SMITH Properties by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,298,745 shares of the company's stock worth $37,033,000 after acquiring an additional 78,737 shares during the period. Private Management Group Inc. grew its holdings in shares of JBG SMITH Properties by 0.7% in the 1st quarter. Private Management Group Inc. now owns 1,732,208 shares of the company's stock worth $27,906,000 after acquiring an additional 11,669 shares during the period. Northern Trust Corp lifted its stake in 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 buying an additional 30,998 shares in the last quarter. Finally, Natixis grew its holdings in JBG SMITH Properties by 0.9% during the 4th quarter. Natixis now owns 1,008,840 shares of the company's stock valued at $15,506,000 after buying an additional 8,840 shares during the last quarter. Institutional investors and hedge funds own 98.46% of the company's stock.

JBG SMITH Properties Stock Down 1.3%

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 firm has a 50-day simple moving average of $18.06 and a two-hundred day simple moving average of $16.25. 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.