JBG SMITH Properties (JBGS) AI Stock Analysis
JBGS AI stock analysis summary
AI ResearchJBG SMITH Properties (NYSE: JBGS) is a mixed-use REIT focused on urban placemaking and transit-oriented properties in the Washington, DC area. The company has faced ongoing revenue contraction, posting a 5-year revenue CAGR of -3.7% and a net loss of -$139.1M in FY2025. It maintains an elevated debt burden with net debt of $2.50B alongside an annualized dividend yield of 6.28%.
- Market cap
- $861.1M
- Revenue (TTM)
- $505.7M
- P/E
- —
- 1Y return
- -42.5% S&P 500 16.8%
- Avg. target
- $12.00 7.6% vs last close
Bull case
- The company holds a 20.7 million square foot portfolio with 98% of assets at company share located near Metro transit, anchoring long-term urban utility.
- Free cash flow burn narrowed from -$150.4M in FY2023 to -$49.0M in FY2025 as the company reduced share count by 54.8% over five years.
- Consensus forecasts point to a top-line stabilization with projected revenue growth of 2.6% to $460.0M for the fiscal year ending in 2027.
Bear case
- Total debt of $2.57B exceeds cash of $74.8M by a wide margin, leaving net debt at $2.50B and a debt-to-equity ratio of 2.41.
- Annual revenue has dropped every year since FY2021, moving down from $634.4M to $498.6M in FY2025.
- The forward dividend yield of 6.28% is accompanied by an elevated payout ratio of 102.3% and a 5-year annualized dividend reduction of 4.9%.
What JBG SMITH Properties does
JBG SMITH Properties specializes in the ownership, operation, investment, and development of mixed-use properties in and around Washington, DC. The company focuses on placemaking to build amenity-rich, walkable neighborhoods across the Capital region and serves as the exclusive developer for Amazon's headquarters in National Landing. Its portfolio spans 20.7 million square feet of office, multifamily, and retail assets, with 98% at company share proximate to Metro transit services. JBG SMITH also maintains a development pipeline totaling 17.1 million square feet of mixed-use opportunities.
Growth and profitability
Top-line revenue decreased from $634.4M in FY2021 to $498.6M in FY2025, reflecting a 5-year revenue CAGR of -3.7%. Operating margin turned negative at -1.3% in FY2025 alongside a gross margin of -14.5% and a net loss of -$139.1M, representing an EPS of -$2.11. For the trailing twelve months ended June 30, 2026, revenue stood at $505.7M with an operating margin of 3.1% and a net profit margin of -30.0%. In the latest quarter, quarterly revenue grew 1.0% year-over-year while quarterly earnings grew 59.5%.
Balance sheet and cash flow
As of June 30, 2026, JBG SMITH held $74.8M in cash and short-term investments against total debt of $2.57B, leading to net debt of $2.50B and a debt-to-equity ratio of 2.41. The current ratio stood at 0.95. In FY2025, operating cash flow was $73.3M while free cash flow was -$49.0M after capital expenditures of $122.3M. Capital deployment in FY2025 also included $443.7M spent on share buybacks and $48.4M paid in dividends, contributing to a 5-year share count change of -54.8%.
Valuation and performance
JBG SMITH trades at an enterprise value of $3.12B and an EV/EBITDA of 23.5x, which compares to 14.7x for the median of its US-listed Real Estate peers. Its price-to-sales multiple is 1.7x versus the peer median of 3.7x, while price-to-book stands at 0.6x. Over the past year, JBGS shares declined 42.5%, compared to a 16.8% gain for the S&P 500 (SPY). Over a 5-year period, the stock fell 53.6% while the S&P 500 gained 83.0%.
JBGS dividend
JBG SMITH pays a quarterly dividend with an annualized forward payout of $0.70 per share, yielding 6.28%. The company has paid dividends for 10 consecutive years, though its 5-year annualized dividend growth is -4.9%. The reported payout ratio stands at 102.3%, and the last ex-dividend date was August 13, 2026.
What analysts expect
Wall Street coverage includes 0 Strong Buy, 0 Buy, 1 Hold, 0 Sell, and 2 Strong Sell recommendations. The mean price target is $12.00, representing a 7.6% upside from the last close of $11.15. Consensus estimates project FY2026 revenue of $448.5M and FY2027 revenue of $460.0M, reflecting 2.6% growth. JBG SMITH beat EPS estimates in 2 of the trailing 4 quarters, and its next earnings date is October 27, 2026.
Key risks and what to watch
- Short interest sits at 30.7% of float, highlighting substantial market skepticism regarding operational performance.
- The current ratio of 0.95 indicates that short-term obligations exceed current assets.
- Profitability remains pressured, evidenced by a trailing twelve months net profit margin of -30.0% and return on equity of -10.9%.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this JBGS AI stock analysis
This page is an AI-written research summary of JBG SMITH Properties (JBGS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: JBGS income statement, JBGS balance sheet, JBGS key metrics, JBGS analyst forecast, JBGS chart. See the JBGS stock overview for the latest quote and news.
JBGS AI stock analysis FAQ
What is JBG SMITH's dividend yield and payout schedule?
JBG SMITH pays a quarterly dividend of $0.70 annualized, which represents a forward dividend yield of 6.28%. However, the payout ratio is elevated at 102.3%.
What are analysts forecasting for JBGS stock?
Analysts hold 1 Hold and 2 Strong Sell ratings with an average price target of $12.00, which is 7.6% above its last close of $11.15. FY2026 revenue is estimated at $448.5M.
How leveraged is JBG SMITH Properties?
As of June 30, 2026, the company held $74.8M in cash against $2.57B in total debt, resulting in net debt of $2.50B and a debt-to-equity ratio of 2.41.
What role does JBG SMITH play in Amazon's headquarters?
JBG SMITH serves as the exclusive developer for Amazon's new headquarters located in National Landing, forming part of its 17.1 million square foot development pipeline.