Overview
JBG SMITH Q3 net loss was $28.6 mln, reflecting ongoing challenges
Adjusted FFO for Q3 beats analyst expectations
Annualized NOI decreased due to higher utility and operating expenses
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
UTILITY AND OPERATING EXPENSES - Higher utility and operating expenses contributed to decreased Annualized NOI
MULTIFAMILY PORTFOLIO - Slight increase in occupancy and leasing rates in multifamily portfolio
COMMERCIAL PORTFOLIO CHALLENGES - Lower occupancy and parking revenue in commercial portfolio affected Same Store NOI
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income | -$28.60 mln | ||
Q3 Adjusted FFO | Beat | $9.10 mln | $0.18 (2 Analysts) |
Q3 FFO | $10.10 mln | ||
Q3 Adjusted FFO Per Share | $0.15 | ||
Q3 Annualized Net Operating Income | $242.30 mln |
Analyst Coverage
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "hold."
Wall Street's median 12-month price target for JBG SMITH Properties is $19.50, about 10.5% below its October 27 closing price of $21.55
Press Release: ID:nBw8NydsKa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)