Earnings Releases·Nov 6, 2026, 6:30 AM ET

JBG SMITH — Third Quarter 2026 Earnings Summary

Reported a net loss of $82.0 million ($1.41 per share) for Q3 2026, driven by $69.2 million in impairment losses, though Core FFO rose to $12.7 million ($0.22 per share) from $9.1 million ($0.15 per share) in the prior year period.
Net Debt to Annualized Adjusted EBITDA improved to 11.6x from 12.6x in the prior quarter, while Annualized NOI increased 2.9% quarter-over-quarter to $256.4 million.
Management expects the strongest year of new leasing since 2019 in Q4, with a strategic focus on recycling capital from multifamily assets into defense-tech office acquisitions and share repurchases.
Subsequent to the quarter, the company formed joint ventures to recapitalize 800 North Glebe (selling 90% interest) and Dulles View (selling 50% interest), while repurchasing 1.0 million shares for $11.5 million.
The company successfully recast its credit facility in August 2026, extending maturities to 2031, and declared a quarterly dividend of $0.175 per share payable in November 2026.