Overview

* JBG SMITH reports Q2 net loss of $19.2 mln, impacted by impairment losses

* Company reports Q2 core FFO of $0.19

* Company repurchased 11.2 mln shares for $184.9 mln during Q2

Result Drivers

* IMPAIRMENT LOSSES - Net loss impacted by real estate impairment losses totaling $31.8 mln

* OCCUPANCY DECLINE - Lower occupancy rates in multifamily and commercial portfolios contributed to decreased Same Store NOI

* RENT INCREASES - Multifamily portfolio saw rent increases of 1.0% for new leases and 8.9% for renewals

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net -$19.20

Income mln

Q2 core $0.19

FFO

Q2 FFO $10 mln

Q2 $268.40

Annualiz mln

ed Net

Operatin

g Income

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 ( JBGS ) is $16.00, about 20.6% below its July 28 closing price of $19.30

Press Release:

(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.)