JBG SMITH (JBGS)
Owns, operates, and develops mixed-use real estate around Washington, DC.
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Owns and operates multifamily, commercial, and retail-infused mixed-use properties concentrated around Washington, DC, with National Landing as the core market. Revenue comes mainly from property operations and third-party real estate services, while execution depends on leasing demand, office repositioning, development timing, and REIT capital access.
Owns, operates, and develops mixed-use real estate in Metro-served Washington, DC submarkets, with National Landing as the center of the portfolio. Assets span multifamily apartments, office buildings, retail spaces, and development density tied to walkable neighborhood placemaking.
The operating segments are Multifamily, Commercial, and Third-Party Real Estate Services. Commercial includes office and retail assets, while development supports the same mixed-use neighborhoods rather than standing as a separate reportable segment.
Execution is local and asset-intensive: leasing space, activating streets, repositioning office buildings, delivering apartments, and managing properties for outside owners. The public issuer was formed in 2017 through the Vornado Washington segment spin-off and combination with The JBG Companies.
The business depends on Washington-area demand, National Landing execution, office-cycle conditions, development timing, and REIT access to capital.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Reiterate | Rating: —Target: $18 | Target: $12 |
| Aug 4, 2026 | Capital One Financial | Target | Target: — | Target: $13 |
| Nov 14, 2025 | Evercore ISI | Target | Target: $17 | Target: $18 |
| Oct 9, 2025 | New Street | Target | Target: — | Target: $19 |
| Dec 3, 2024 | BMO Capital | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $74.8M · Total debt $2.57B · Total assets $4.26B · Shareholders' equity $1.07B
- Revenue
- $129.4M
- Operating income
- $8.1M
- Net income
- −$59.2M
HistoryDividendAnnual yield
| Institutions | 78.36% | 58.47M shares | |
|---|---|---|---|
| 206 holders · as of Jun 30, 2026 | |||
| Insiders | 0.33% | 244.5K shares | |
| 3 holders · as of Nov 17, 2025 | |||
| Other | 21.31% | 15.90M shares | |
| remainder | |||
74.62M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (74.62M in the company's Sep 22, 2026 report, 58.26M elsewhere); stakes use the report.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.00% | 11.19M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.26% | 6.16M | as of Jun 30, 2026 |
Long Pond Capital, LPInstitution | 5.39% | 4.02M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 5.28% | 3.94M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.86% | 3.62M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 8, 2026 | Steven A. Museles | officer: Chief Legal Off. & Corp. Secy | −20,010 | $15.01 |
| Nov 24, 2025 | Evan Regan-Levine | officer: Chief Strategy Officer | −4,485 | $17.90 |
| Nov 7, 2025 | Evan Regan-Levine | officer: Chief Strategy Officer | −5,200 | $18.56 |
| Oct 30, 2025 | Scott A. Estes | director | −10,000 | $19.87 |
| Oct 31, 2025 | Steven A. Museles | officer: Chief Legal Off. & Corp. Secy | −16,253 | $19.58 |
- BXP
Premier office rival in Washington, DC and Reston
- Equity Residential
Urban apartment peer across DC and National Landing
- Federal Realty
Retail and mixed-use placemaking peer in the DC region
- Saul Centers
Local retail and mixed-use landlord concentrated near DC
- Brandywine Realty Trust
Transit-oriented office and mixed-use peer in DC/NoVA
- UDR
DC Metro apartment operator across city and suburban nodes
- Piedmont Realty Trust
Class A office peer in Northern Virginia/DC
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| JBG SMITH | $11.03 | 0.00% | $653.0M | — | — | 1.3 | +2.3% |
| BXP | $64.31 | −0.06% | $10.23B | 34.5 | 31.4 | 2.9 | +3.1% |
| Equity Residential | $62.28 | −0.10% | $23.01B | 26.9 | 40.3 | 7.3 | +2.1% |
| Federal Realty | $110.46 | 0.00% | $9.56B | 22.0 | 34.9 | 7.2 | +7.7% |
| Saul Centers | $30.23 | −0.10% | $741.5M | 21.1 | 97.6 | 2.5 | +8.6% |
| Brandywine Realty Trust | $2.95 | +0.17% | $506.2M | — | — | 1.0 | +7.5% |
| UDR | $34.14 | +0.13% | $10.89B | 21.6 | 58.0 | 6.3 | −0.0% |
| Piedmont Realty Trust | $9.37 | −0.16% | $1.17B | — | — | 2.1 | +29.7% |
| Median | 22.0 | 40.3 | 2.9 | +7.5% |