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JBG SMITH Q3 Core FFO rises on higher occupancy

By Reuters News


Overview

  • US mixed-use property owner's Q3 Core FFO rose yr/yr, with higher occupancy and lower real estate taxes

  • Annualized net operating income for Q3 increased to $256.4 mln from $249.3 mln prior quarter

  • Company repurchased and retired 1.0 mln shares for $11.5 mln through October 30, 2026


Outlook

  • Company did not provide specific guidance for future quarters or the full year in the press release


Result Drivers

  • HIGHER OCCUPANCY - Co said increased occupancy in both multifamily and commercial portfolios contributed to higher Annualized NOI and improved leasing metrics

  • LOWER REAL ESTATE TAXES - Co attributed higher Annualized NOI and commercial portfolio SSNOI to reduced real estate tax expenses

  • MULTIFAMILY RENT PRESSURE - Co said effective rents for new multifamily leases fell 9.6% while renewals rose 2.7%


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted FFO

Beat

$12.70 mln

$0.20 (2 Analysts)

Q3 FFO

$10.40 mln

Q3 Adjusted FFO Per Share

$0.22

Q3 Annualized Net Operating Income

$256.40 mln


Reuters Recommended Reads

  • Nov 4 - Rental home operator AMH's Q3 core FFO per share up; lifts FY outlook

  • Nov 5 - Regency Centers Q3 FFO rises as base rent grows, net income falls

  • Nov 4 - SmartStop Self Storage Q3 adjusted FFO rises on lower property costs; lifts NOI outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@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.)

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