(JBGS) JBG SMITH Properties - Overview
Stock: Multifamily, Office, Retail, Mixed-Use, Development
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.00% |
| Yield on Cost 5y | 2.70% |
| Yield CAGR 5y | -6.09% |
| Payout Consistency | 92.6% |
| Payout Ratio | 101.1% |
| Risk 5d forecast | |
|---|---|
| Volatility | 28.4% |
| Relative Tail Risk | -3.11% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.46 |
| Alpha | 3.85 |
| Character TTM | |
|---|---|
| Beta | 0.637 |
| Beta Downside | 0.725 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.84% |
| CAGR/Max DD | -0.03 |
Description: JBGS JBG SMITH Properties January 18, 2026
JBG SMITH (NYSE: JBGS) is a mixed-use REIT that acquires, operates, and develops properties in high-amenity, Metro-served submarkets around Washington, DC, with a pronounced emphasis on placemaking to create walkable, tenant-friendly neighborhoods.
About 75 % of its portfolio is concentrated in the National Landing submarket of Northern Virginia, a location anchored by four primary demand catalysts: Amazon’s HQ2, Virginia Tech’s $1 billion Innovation Campus, proximity to the Pentagon, and ongoing public-infrastructure and placemaking projects.
The company currently owns roughly 11.8 million sq ft of multifamily, office, and retail space-98 % of which is within a Metro service area-and maintains a development pipeline of approximately 8.7 million sq ft, primarily multifamily, slated for future mixed-use projects.
Key market metrics (as of Q4 2023) that help gauge JBG SMITH’s upside potential include: • Multifamily occupancy averaging 95 % with rent growth of ~4 % YoY, outpacing the DC-Metro average of ~2.5 %; • Office vacancy in the DC metro hovering near 15 %-still elevated but showing modest improvement as employers re-evaluate hybrid work models; • Weighted average cap rates for newly-leased multifamily assets at ~5.5 %, reflecting strong investor appetite for growth-oriented assets in the region; • FFO growth of 7 % YoY in 2023, driven by rent escalations and cost-efficient development execution. These figures suggest that the company’s exposure to a high-growth submarket may offer a premium over broader REIT benchmarks, though the outlook remains sensitive to interest-rate movements and office-space demand trends.
For a deeper, data-driven dive into JBGS’s valuation dynamics, you might find ValueRay’s analytical tools useful.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: -153.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 2.18 > 1.0 |
| NWC/Revenue: 14.45% < 20% (prev 38.92%; Δ -24.47% < -1%) |
| CFO/TA 0.02 > 3% & CFO 83.1m > Net Income -153.4m |
| Net Debt (2.44b) to EBITDA (144.8m): 16.88 < 3 |
| Current Ratio: 1.30 > 1.5 & < 3 |
| Outstanding Shares: last quarter (60.6m) vs 12m ago -28.94% < -2% |
| Gross Margin: 49.92% > 18% (prev 0.51%; Δ 4942 % > 0.5%) |
| Asset Turnover: 10.45% > 50% (prev 10.88%; Δ -0.43% > 0%) |
| Interest Coverage Ratio: -0.18 > 6 (EBITDA TTM 144.8m / Interest Expense TTM 317.0m) |
Altman Z'' -1.23
| A: 0.02 (Total Current Assets 311.9m - Total Current Liabilities 239.4m) / Total Assets 4.42b |
| B: -0.25 (Retained Earnings -1.11b / Total Assets 4.42b) |
| C: -0.01 (EBIT TTM -55.7m / Avg Total Assets 4.80b) |
| D: -0.42 (Book Value of Equity -1.11b / Total Liabilities 2.66b) |
| Altman-Z'' Score: -1.23 = CCC |
Beneish M -3.09
| DSRI: 1.06 (Receivables 203.7m/216.0m, Revenue 501.8m/564.1m) |
| GMI: 1.02 (GM 49.92% / 50.72%) |
| AQI: 1.01 (AQ_t 0.92 / AQ_t-1 0.91) |
| SGI: 0.89 (Revenue 501.8m / 564.1m) |
| TATA: -0.05 (NI -153.4m - CFO 83.1m) / TA 4.42b) |
| Beneish M-Score: -3.09 (Cap -4..+1) = AA |
What is the price of JBGS shares?
Over the past week, the price has changed by -1.25%, over one month by -2.63%, over three months by -7.22% and over the past year by +14.54%.
Is JBGS a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the JBGS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 18 | 8.2% |
| Analysts Target Price | 18 | 8.2% |
| ValueRay Target Price | 17.5 | 5.2% |
JBGS Fundamental Data Overview February 02, 2026
P/B = 0.8261
Revenue TTM = 501.8m USD
EBIT TTM = -55.7m USD
EBITDA TTM = 144.8m USD
Long Term Debt = 2.30b USD (from longTermDebt, last quarter)
Short Term Debt = 160.0m USD (from shortTermDebt, last quarter)
Debt = 2.51b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.44b USD (from netDebt column, last quarter)
Enterprise Value = 3.54b USD (1.10b + Debt 2.51b - CCE 64.4m)
Interest Coverage Ratio = -0.18 (Ebit TTM -55.7m / Interest Expense TTM 317.0m)
EV/FCF = 942.8x (Enterprise Value 3.54b / FCF TTM 3.76m)
FCF Yield = 0.11% (FCF TTM 3.76m / Enterprise Value 3.54b)
FCF Margin = 0.75% (FCF TTM 3.76m / Revenue TTM 501.8m)
Net Margin = -30.57% (Net Income TTM -153.4m / Revenue TTM 501.8m)
Gross Margin = 49.92% ((Revenue TTM 501.8m - Cost of Revenue TTM 251.3m) / Revenue TTM)
Gross Margin QoQ = 49.22% (prev 51.70%)
Tobins Q-Ratio = 0.80 (Enterprise Value 3.54b / Total Assets 4.42b)
Interest Expense / Debt = 1.39% (Interest Expense 34.8m / Debt 2.51b)
Taxrate = 21.0% (US default 21%)
NOPAT = -44.0m (EBIT -55.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.30 (Total Current Assets 311.9m / Total Current Liabilities 239.4m)
Debt / Equity = 2.11 (Debt 2.51b / totalStockholderEquity, last quarter 1.19b)
Debt / EBITDA = 16.88 (Net Debt 2.44b / EBITDA 144.8m)
Debt / FCF = 650.2 (Net Debt 2.44b / FCF TTM 3.76m)
Total Stockholder Equity = 1.47b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.20% (Net Income -153.4m / Total Assets 4.42b)
RoE = -10.41% (Net Income TTM -153.4m / Total Stockholder Equity 1.47b)
RoCE = -1.48% (EBIT -55.7m / Capital Employed (Equity 1.47b + L.T.Debt 2.30b))
RoIC = -1.11% (negative operating profit) (NOPAT -44.0m / Invested Capital 3.98b)
WACC = 3.28% (E(1.10b)/V(3.61b) * Re(8.26%) + D(2.51b)/V(3.61b) * Rd(1.39%) * (1-Tc(0.21)))
Discount Rate = 8.26% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -20.31%
[DCF Debug] Terminal Value 80.98% ; FCFF base≈3.76m ; Y1≈2.49m ; Y5≈1.16m
Fair Price DCF = N/A (negative equity: EV 36.8m - Net Debt 2.44b = -2.41b; debt exceeds intrinsic value)
EPS Correlation: -54.96 | EPS CAGR: 0.02% | SUE: 2.01 | # QB: 1
Revenue Correlation: -89.67 | Revenue CAGR: -6.19% | SUE: 0.33 | # QB: 0