Added to YB: 2024-06-28
Pitch date: 2024-06-28
JBGS [bullish]
JBG SMITH Properties
+20.73%
current return
Author Info
Raging Bull Investments is a lawyer by background who shares actionable investment ideas on value opportunities with a catalyst. Sign up for the newsletter.
Company Info
JBG SMITH owns, operates, and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, that we believe have long-term growth potential and appeal to residential, office, and retail tenants.
Market Cap
$1.1B
Pitch Price
$14.30
Price Target
N/A
Dividend
3.90%
EV/EBITDA
21.84
P/E
-8.52
EV/Sales
8.13
Sector
Office REITs
Category
value
JBGS: Attractive Entry Point with Substantial Discount to Intrinsic Value
JBGS: Massive NAV discount, ~$50M Q2 buybacks. Mid-teens distribution yield. Multifamily NOI ~$180M, 5.5% cap rate = $3.3B value vs $3.9B TEV. $1.2B implied multifam equity vs $1.55B mkt cap. Office assets worth ~$1B, 9M SF dev pipeline. Huge discount to intrinsic value.
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