JBG SMITH Properties(NYSE:JBGS)

JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region...
Website: http://www.jbgsmith.com
Founded: 1957
Full Time Employees: 1,017
Sector: Real Estate
Industry: REIT-Office
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 |
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revenue | |||||||||||||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||||||||||
qoq | |||||||||||||||||||||||||||||||||||
property rental | 105,856,000 | 104,812,000 | 103,981,000 | 106,509,000 | 101,499,000 | 108,429,000 | 113,349,000 | 112,536,000 | 122,636,000 | 118,240,000 | 120,294,000 | 120,592,000 | 124,033,000 | 123,293,000 | 119,811,000 | 117,036,000 | 131,598,000 | 128,626,000 | 125,900,000 | 122,819,000 | 122,241,000 | 104,439,000 | 118,680,000 | 115,459,000 | |||||||||||
third-party real estate services, including reimbursements | 17,208,000 | 17,797,000 | 14,711,000 | 14,805,000 | 14,914,000 | 17,139,000 | 17,061,000 | 17,397,000 | 17,868,000 | 22,463,000 | 23,942,000 | 22,862,000 | 22,784,000 | 21,050,000 | 21,845,000 | 22,157,000 | 23,970,000 | 23,309,000 | 25,842,000 | 26,745,000 | 38,107,000 | 30,069,000 | 26,987,000 | 27,167,000 | 29,716,000 | 29,121,000 | 34,587,000 | 29,487,000 | 27,691,000 | 26,421,000 | 23,788,000 | 24,160,000 | 24,330,000 | 24,355,000 | 25,141,000 |
other revenue | 4,538,000 | 4,954,000 | 5,178,000 | 5,165,000 | 4,273,000 | 5,214,000 | 5,616,000 | 5,387,000 | 4,680,000 | 6,876,000 | 7,326,000 | 8,641,000 | 6,145,000 | 6,397,000 | 5,958,000 | 6,312,000 | 6,397,000 | 5,472,000 | 5,280,000 | 5,080,000 | 4,941,000 | 14,121,000 | 5,368,000 | 2,326,000 | 8,011,000 | ||||||||||
total revenue | 127,602,000 | 127,563,000 | 123,870,000 | 126,479,000 | 120,686,000 | 130,782,000 | 136,026,000 | 135,320,000 | 145,184,000 | 147,579,000 | 151,562,000 | 152,095,000 | 152,962,000 | 150,740,000 | 147,614,000 | 145,505,000 | 161,965,000 | 157,407,000 | 157,022,000 | 154,644,000 | 165,289,000 | 148,629,000 | 151,035,000 | 144,952,000 | 158,107,000 | 164,877,000 | 167,077,000 | 160,617,000 | 155,199,000 | 163,255,000 | 158,443,000 | 159,447,000 | 163,037,000 | 156,371,000 | 152,350,000 |
expenses | |||||||||||||||||||||||||||||||||||
depreciation and amortization | 45,305,000 | 46,753,000 | 48,164,000 | 47,560,000 | 47,587,000 | 49,969,000 | 50,050,000 | 51,306,000 | 56,855,000 | 57,281,000 | 50,265,000 | 49,218,000 | 53,431,000 | 56,174,000 | 50,056,000 | 49,479,000 | 58,062,000 | 58,173,000 | 56,726,000 | 56,678,000 | 64,726,000 | 64,170,000 | 56,481,000 | 52,616,000 | 48,489,000 | 50,004,000 | 46,862,000 | 45,995,000 | 48,719,000 | 67,556,000 | 46,603,000 | 48,117,000 | 49,160,000 | 51,933,000 | 43,951,000 |
property operating | 36,218,000 | 36,838,000 | 36,564,000 | 34,875,000 | 33,437,000 | 35,818,000 | 39,258,000 | 36,254,000 | 35,279,000 | 34,937,000 | 37,588,000 | 35,912,000 | 35,612,000 | 37,535,000 | 36,380,000 | 35,445,000 | 40,644,000 | 40,709,000 | 40,198,000 | 35,000,000 | 34,731,000 | 39,758,000 | 37,572,000 | 33,792,000 | 34,503,000 | 37,535,000 | 35,800,000 | 32,113,000 | 32,174,000 | 52,619,000 | 34,167,000 | 30,416,000 | 30,861,000 | 33,714,000 | 29,634,000 |
real estate taxes | 12,046,000 | 11,756,000 | 12,284,000 | 12,651,000 | 12,172,000 | 12,600,000 | 11,812,000 | 14,399,000 | 13,795,000 | 13,607,000 | 14,413,000 | 14,424,000 | 15,224,000 | 14,297,000 | 14,738,000 | 14,946,000 | 18,186,000 | 15,696,000 | 18,259,000 | 18,558,000 | 18,310,000 | 17,536,000 | 17,354,000 | 17,869,000 | 18,199,000 | 18,252,000 | 16,740,000 | 18,266,000 | 17,235,000 | 17,030,000 | 16,905,000 | 17,509,000 | 19,610,000 | 18,456,000 | 17,194,000 |
general and administrative: | |||||||||||||||||||||||||||||||||||
corporate and other | 15,287,000 | 13,678,000 | 13,214,000 | 16,720,000 | 15,557,000 | 14,935,000 | 11,881,000 | 17,001,000 | 14,973,000 | 12,376,000 | 11,246,000 | 15,093,000 | 16,123,000 | 15,611,000 | 12,072,000 | 14,782,000 | 15,815,000 | 15,344,000 | 12,105,000 | 13,895,000 | 12,475,000 | 9,156,000 | 11,086,000 | 13,216,000 | 13,176,000 | 11,934,000 | 11,015,000 | 11,559,000 | 12,314,000 | -4,031,000 | 12,415,000 | 12,651,000 | 12,711,000 | 11,595,000 | 10,593,000 |
third-party real estate services | 16,998,000 | 16,903,000 | 14,058,000 | 13,562,000 | 16,071,000 | 17,199,000 | 16,088,000 | 18,650,000 | 22,327,000 | 21,615,000 | 21,405,000 | 22,105,000 | 23,823,000 | 22,107,000 | 21,230,000 | 24,143,000 | 27,049,000 | 27,124,000 | 25,542,000 | 25,557,000 | 28,936,000 | 28,569,000 | 28,207,000 | 29,239,000 | 28,814,000 | 26,910,000 | 29,809,000 | 28,710,000 | 28,066,000 | 25,274,000 | 20,754,000 | 21,189,000 | 22,609,000 | 21,557,000 | 21,178,000 |
transaction and other costs | 9,841,000 | 972,000 | 494,000 | 2,846,000 | 1,911,000 | 2,312,000 | 667,000 | 824,000 | 1,514,000 | 943,000 | 1,830,000 | 3,492,000 | 2,472,000 | 879,000 | 1,746,000 | 1,987,000 | 899,000 | 1,518,000 | 2,951,000 | 2,270,000 | 3,690,000 | 1,144,000 | 845,000 | 1,372,000 | 5,309,000 | 13,307,000 | 2,059,000 | 2,974,000 | 4,895,000 | 15,572,000 | 4,126,000 | 3,787,000 | 4,221,000 | 12,566,000 | 104,095,000 |
total expenses | 135,695,000 | 126,900,000 | 124,778,000 | 128,214,000 | 126,735,000 | 132,833,000 | 129,756,000 | 138,434,000 | 144,743,000 | 140,911,000 | 136,793,000 | 140,244,000 | 147,036,000 | 147,625,000 | 136,770,000 | 142,359,000 | 162,899,000 | 162,023,000 | 159,261,000 | 156,399,000 | 167,813,000 | 166,579,000 | 158,678,000 | 156,962,000 | 157,931,000 | 169,901,000 | 151,834,000 | 149,140,000 | 154,534,000 | ||||||
other income | 6,356,500 | 8,527,000 | 8,804,000 | 8,095,000 | 1,454,000 | 1,708,000 | 2,080,000 | 1,116,000 | 1,466,000 | 1,158,000 | |||||||||||||||||||||||||
loss from unconsolidated real estate ventures | -374,000 | -25,679,000 | -2,263,000 | -943,000 | |||||||||||||||||||||||||||||||
interest and other income | 1,400,000 | 610,000 | 2,378,000 | 698,000 | 525,000 | 1,493,000 | 4,573,000 | 3,432,000 | 2,100,000 | 1,649,000 | 7,774,000 | 2,281,000 | 4,077,000 | 1,715,000 | 984,000 | 1,672,000 | 14,246,000 | 8,672,000 | 192,000 | -38,000 | 9,000 | -1,646,000 | 114,000 | 907,000 | 3,022,000 | -640,000 | 2,052,000 | 951,000 | 9,991,000 | 4,091,000 | 513,000 | 573,000 | 422,000 | -379,000 | |
interest expense | -35,548,000 | -36,485,000 | -34,781,000 | -35,571,000 | -35,200,000 | -36,668,000 | -35,267,000 | -31,973,000 | -30,160,000 | -28,080,000 | -27,903,000 | -25,835,000 | -26,842,000 | -25,679,000 | -17,932,000 | -16,041,000 | -16,278,000 | -17,649,000 | -17,243,000 | -16,773,000 | -16,296,000 | -17,661,000 | -16,885,000 | -15,770,000 | -12,005,000 | -11,831,000 | -10,583,000 | -13,107,000 | -17,174,000 | -18,184,000 | -18,979,000 | -18,027,000 | -19,257,000 | -14,328,000 | -15,309,000 |
gain on the sale of real estate | 21,075,000 | -396,000 | 4,660,000 | 41,832,000 | 537,000 | 2,313,000 | -5,352,000 | 89,000 | 197,000 | 37,729,000 | 906,000 | 40,700,000 | 3,263,000 | 158,767,000 | |||||||||||||||||||||
loss on the extinguishment of debt | -4,636,000 | -450,000 | -1,444,000 | -1,038,000 | -591,000 | ||||||||||||||||||||||||||||||
impairment loss | -1,500,000 | -20,780,000 | -4,771,000 | -31,813,000 | -8,483,000 | -37,191,000 | -1,025,000 | -17,211,000 | -30,919,000 | -59,307,000 | |||||||||||||||||||||||||
total other income | -14,947,000 | -61,306,000 | -33,178,000 | -21,529,000 | -47,849,000 | -67,987,000 | -36,748,000 | -29,703,000 | -44,099,000 | -45,300,000 | -80,793,000 | -23,494,000 | 18,368,000 | -25,301,000 | -32,259,000 | 141,253,000 | 386,000 | -59,704,000 | 3,452,000 | -1,568,000 | -17,230,000 | -32,762,000 | -17,850,000 | -29,141,000 | 45,654,000 | 43,103,000 | -4,279,000 | -14,754,000 | 26,411,000 | ||||||
loss before income tax benefit | -23,040,000 | -60,643,000 | -34,086,000 | -23,264,000 | -53,898,000 | -26,738,250 | -30,478,000 | -548,000 | |||||||||||||||||||||||||||
income tax benefit | -7,000 | 4,473,000 | -926,000 | 83,000 | 200,000 | -802,000 | -831,000 | -597,000 | 1,468,000 | 16,000 | -2,905,000 | 471,000 | 986,000 | -217,000 | 5,000 | -4,315,000 | 544,000 | 488,000 | 888,000 | 2,345,000 | 613,000 | -432,000 | -51,000 | 1,172,000 | -698,000 | 841,000 | -313,000 | 908,000 | 9,595,000 | 1,034,000 | |||||
net income | -23,047,000 | -56,170,000 | -35,012,000 | -23,181,000 | -53,698,000 | -70,840,000 | -31,309,000 | -33,414,000 | -42,190,000 | -37,664,000 | -66,101,000 | -12,254,000 | 24,310,000 | -20,850,000 | -21,581,000 | 141,494,000 | -77,000 | -63,334,000 | 996,000 | -3,318,000 | -24,069,000 | -50,168,000 | -25,005,000 | -40,263,000 | 48,175,000 | 38,692,000 | 10,532,000 | -3,328,000 | 28,248,000 | 994,000 | 26,382,000 | 24,023,000 | -4,786,000 | -18,752,000 | -77,991,000 |
yoy | -57.08% | -20.71% | 11.83% | -30.62% | 27.28% | 88.08% | -52.63% | 172.68% | -273.55% | 80.64% | 206.29% | -108.66% | -31671.43% | -67.08% | -2266.77% | -4364.44% | -99.68% | 26.24% | -103.98% | -91.76% | -149.96% | -229.66% | -337.42% | 1109.83% | 70.54% | 3792.56% | -60.08% | -113.85% | -690.22% | -105.30% | -133.83% | ||||
qoq | -58.97% | 60.43% | 51.04% | -56.83% | -24.20% | 126.26% | -6.30% | -20.80% | 12.02% | -43.02% | 439.42% | -150.41% | -216.59% | -3.39% | -115.25% | -183858.44% | -99.88% | -6458.84% | -130.02% | -86.21% | -52.02% | 100.63% | -37.90% | -183.58% | 24.51% | 267.38% | -416.47% | -111.78% | 2741.85% | -96.23% | 9.82% | -601.94% | -74.48% | -75.96% | |
net income margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% |
net loss attributable to redeemable noncontrolling interests | 4,350,000 | 10,623,000 | 6,457,000 | 3,940,000 | 7,978,000 | 9,849,000 | 4,365,000 | 3,454,000 | 4,534,000 | 4,635,000 | 7,926,000 | 1,398,000 | 2,468,000 | 2,546,000 | -18,248,000 | -10,000 | 6,256,000 | -103,000 | 345,000 | 2,230,000 | 4,513,000 | 2,212,000 | 3,483,000 | 288,000 | -3,387,000 | -178,000 | -3,552,000 | 594,000 | 4,847,000 | 8,160,000 | |||||
net loss attributable to common shareholders | -18,697,000 | -45,547,000 | -28,555,000 | -19,241,000 | -45,720,000 | -20,907,250 | -26,980,000 | -32,000 | |||||||||||||||||||||||||||
loss per common share - basic and diluted | -320 | -740 | -480 | -290 | -560 | -237.5 | -320 | ||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - basic and diluted | 59,073,000 | 67,361,000 | 60,606,000 | 68,287,000 | 81,521,000 | 88,330,000 | 85,292,000 | 91,030,000 | 92,635,000 | 105,095,000 | 101,445,000 | 109,695,000 | 114,052,000 | 119,005,000 | 114,360,000 | 121,316,000 | 126,682,000 | 130,839,000 | 131,351,000 | 131,480,000 | 133,451,000 | 117,955,000 | 105,359,000 | 114,744,000 | |||||||||||
income from unconsolidated real estate ventures | -41,250 | -664,000 | 1,091,000 | -592,000 | 1,000 | -745,000 | -226,000 | 975,000 | 510,000 | 433,000 | -3,207,250 | -13,867,000 | -2,107,000 | 3,145,000 | 5,878,250 | 20,503,000 | 3,953,000 | -3,194,000 | -965,000 | -13,485,000 | -2,692,000 | -2,042,000 | -1,144,000 | -1,810,000 | 3,601,000 | 23,991,000 | 13,484,000 | 3,836,000 | -1,902,000 | -341,250 | -1,679,000 | ||||
gain on the extinguishment of debt | 2,234,000 | 9,192,000 | 43,000 | ||||||||||||||||||||||||||||||||
net loss attributable to noncontrolling interests | 1,094,000 | -36,000 | 5,587,000 | 5,380,000 | 432,000 | 168,000 | 311,000 | 224,000 | -197,000 | -258,000 | 29,000 | 55,000 | 632,000 | 1,108,000 | -106,000 | 125,000 | 2,000 | ||||||||||||||||||
share-based compensation related to formation transaction and special equity awards | 152,000 | 46,000 | 351,000 | 1,022,000 | 548,000 | 1,577,000 | 2,244,000 | 3,459,000 | 3,480,000 | 4,441,000 | 4,945,000 | 6,246,000 | 7,133,000 | 8,858,000 | 9,441,000 | 11,959,000 | 9,549,000 | 9,523,000 | 11,131,000 | ||||||||||||||||
income before income tax benefit | -32,817,000 | -43,658,000 | 24,294,000 | 144,399,000 | -64,320,000 | 1,213,000 | -3,323,000 | -19,754,000 | -50,712,000 | -25,493,000 | -41,151,000 | 45,830,000 | 38,079,000 | 10,964,000 | -3,277,000 | 27,076,000 | 1,692,000 | 25,541,000 | 24,336,000 | -5,694,000 | |||||||||||||||
net income attributable to common shareholders | -24,373,000 | -32,276,000 | -32,597,000 | -58,007,000 | -10,545,000 | 21,171,000 | -18,579,000 | -19,293,000 | 123,275,000 | -56,446,000 | 893,000 | -2,973,000 | -20,731,000 | -45,655,000 | -22,793,000 | -36,780,000 | 42,925,000 | 34,390,000 | 9,360,000 | -3,040,000 | 24,861,000 | 710,000 | 22,830,000 | 20,574,000 | -4,190,000 | ||||||||||
earnings per common share - basic and diluted | -270 | -360 | -330 | -580 | -100 | 190 | -160 | -170 | 1,020 | -450 | -30 | -160 | |||||||||||||||||||||||
income before income tax expense | -13,343,250 | -66,024,000 | -11,643,000 | 30,609,000 | -21,415,000 | -15,162,250 | -79,025,000 | ||||||||||||||||||||||||||||
income tax expense | -168,000 | -77,000 | -611,000 | -650,000 | -166,000 | ||||||||||||||||||||||||||||||
net income attributable to redeemable noncontrolling interests | -3,363,000 | -5,250,000 | -1,067,750 | -1,172,000 | -3,574,000 | ||||||||||||||||||||||||||||||
loss on the sale of real estate | -136,000 | ||||||||||||||||||||||||||||||||||
gain on sale of real estate | 11,290,000 | 59,477,000 | 57,870,000 | 8,088,000 | 39,033,000 | 6,394,000 | 11,938,000 | 33,396,000 | 455,000 | ||||||||||||||||||||||||||
loss on extinguishment of debt | -29,000 | -33,000 | -3,916,000 | -1,889,000 | -617,000 | -79,000 | -4,457,000 | -12,000 | -689,000 | ||||||||||||||||||||||||||
weighted-average number of common shares outstanding: | |||||||||||||||||||||||||||||||||||
basic | 131,540,000 | 133,620,000 | 133,613,000 | 134,542,000 | 130,687,000 | 134,127,000 | 131,754,000 | 122,573,000 | 119,176,000 | 119,835,000 | 117,955,000 | ||||||||||||||||||||||||
diluted | 131,540,000 | 133,620,000 | 133,613,000 | 135,429,000 | 130,687,000 | 134,127,000 | 131,754,000 | 123,423,000 | 119,176,000 | 119,835,000 | 117,955,000 | ||||||||||||||||||||||||
earnings per common share: | |||||||||||||||||||||||||||||||||||
basic | -35 | -180 | -280 | 320 | 250 | 60 | -30 | 200 | -20 | 190 | 170 | -40 | -150 | -610 | |||||||||||||||||||||
diluted | -35 | -180 | -280 | 320 | 250 | 60 | -30 | 200 | -20 | 190 | 170 | -40 | -150 | -610 | |||||||||||||||||||||
property rentals | 120,380,000 | 127,571,000 | 123,963,000 | 122,326,000 | 119,413,000 | 124,741,000 | 123,203,000 | 125,240,000 | 126,651,000 | 119,726,000 | 116,458,000 | ||||||||||||||||||||||||
reduction of gain on bargain purchase | -7,606,000 | ||||||||||||||||||||||||||||||||||
tenant reimbursements | 10,639,000 | 9,744,000 | 7,967,000 | 10,940,000 | 10,824,000 | 9,593,000 | |||||||||||||||||||||||||||||
share-based compensation related to formation transaction | 6,728,000 | 8,387,000 | 9,097,000 | 9,428,000 | 14,806,000 | 14,445,000 | |||||||||||||||||||||||||||||
total operating expenses | 108,680,750 | 143,357,000 | 142,766,000 | 148,600,000 | 164,627,000 | 241,090,000 | |||||||||||||||||||||||||||||
operating income | 11,551,000 | 15,086,000 | 16,681,000 | 14,437,000 | -8,256,000 | -88,740,000 | |||||||||||||||||||||||||||||
yoy | -239.91% | -117.00% | |||||||||||||||||||||||||||||||||
qoq | -23.43% | -9.56% | 15.54% | -274.87% | -90.70% | ||||||||||||||||||||||||||||||
operating margin % | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% |
gain (reduction of gain) on bargain purchase | |||||||||||||||||||||||||||||||||||
gain on bargain purchase | -3,395,000 | 27,771,000 | |||||||||||||||||||||||||||||||||
net income attributable to jbg smith properties | -14,462,750 | -69,831,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||
real estate, at cost: | ||||||||||||||||||||||||||||||||||||
land and improvements | 980,178,000 | 1,019,967,000 | 1,026,236,000 | 995,504,000 | 1,101,149,000 | 1,109,172,000 | 1,171,458,000 | 1,196,065,000 | 1,187,685,000 | 1,194,737,000 | 1,207,873,000 | 1,267,379,000 | 1,267,022,000 | 1,302,569,000 | 1,273,947,000 | 1,217,216,000 | 1,212,501,000 | 1,378,218,000 | 1,358,299,000 | 1,357,904,000 | 1,384,157,000 | 1,391,472,000 | 1,314,106,000 | 1,285,415,000 | 1,281,375,000 | 1,240,455,000 | 1,283,043,000 | 1,227,558,000 | 1,227,255,000 | 1,371,874,000 | 1,366,154,000 | 1,444,872,000 | 1,469,375,000 | 1,368,294,000 | 1,272,997,000 | 930,001,000 |
buildings and improvements | 3,971,356,000 | 3,973,514,000 | 4,035,802,000 | 3,860,105,000 | 4,115,038,000 | 4,083,937,000 | 4,243,690,000 | 4,323,620,000 | 4,283,889,000 | 4,021,322,000 | 4,037,280,000 | 4,175,488,000 | 4,157,110,000 | 4,310,821,000 | 4,117,823,000 | 4,004,286,000 | 3,968,601,000 | 4,513,606,000 | 4,368,477,000 | 4,355,187,000 | 4,309,606,000 | 4,341,103,000 | 4,225,616,000 | 4,065,543,000 | 3,985,055,000 | 3,880,973,000 | 3,824,467,000 | 3,717,356,000 | 3,717,906,000 | 3,722,930,000 | 3,678,335,000 | 3,832,013,000 | 3,880,993,000 | 3,670,268,000 | 3,662,853,000 | 3,028,517,000 |
construction in progress, including land | 186,581,000 | 175,673,000 | 170,333,000 | 340,944,000 | 327,414,000 | 338,333,000 | 443,908,000 | 425,653,000 | 427,524,000 | 659,103,000 | 709,878,000 | 694,793,000 | 619,111,000 | 544,692,000 | 471,867,000 | 385,085,000 | 348,523,000 | 344,652,000 | 299,359,000 | 273,542,000 | 285,206,000 | 268,056,000 | 400,933,000 | 563,133,000 | 585,103,000 | 654,091,000 | 763,080,000 | 859,717,000 | 751,730,000 | 697,930,000 | 649,056,000 | 595,063,000 | 568,186,000 | 978,942,000 | 906,680,000 | |
real estate, at cost: - sum | 5,138,115,000 | 5,169,154,000 | 5,232,371,000 | 5,196,553,000 | 5,543,601,000 | 5,531,442,000 | 5,859,056,000 | 5,945,338,000 | 5,899,098,000 | 5,875,162,000 | 5,955,031,000 | 6,137,660,000 | 6,043,243,000 | 6,158,082,000 | 5,863,637,000 | 5,606,587,000 | 5,529,625,000 | 6,236,476,000 | 6,026,135,000 | 5,986,633,000 | 5,978,969,000 | 6,000,631,000 | 5,940,655,000 | 5,914,091,000 | 5,851,533,000 | 5,775,519,000 | 5,870,590,000 | 5,804,631,000 | 5,696,891,000 | 5,792,734,000 | 5,693,545,000 | 5,871,948,000 | 5,918,554,000 | 6,025,797,000 | 5,842,530,000 | 4,171,313,000 |
less: accumulated depreciation | -1,444,854,000 | -1,408,641,000 | -1,449,973,000 | -1,420,865,000 | -1,452,387,000 | -1,419,983,000 | -1,429,079,000 | -1,418,923,000 | -1,379,090,000 | -1,338,403,000 | -1,355,355,000 | -1,396,766,000 | -1,355,655,000 | -1,335,000,000 | -1,299,818,000 | -1,257,871,000 | -1,216,402,000 | -1,368,003,000 | -1,346,107,000 | |||||||||||||||||
real estate | 3,693,261,000 | 3,760,513,000 | 3,782,398,000 | 3,775,688,000 | 4,091,214,000 | 4,111,459,000 | 4,429,977,000 | 4,526,415,000 | 4,520,008,000 | 4,536,759,000 | 4,599,676,000 | 4,740,894,000 | 4,687,588,000 | 4,823,082,000 | 4,563,819,000 | 4,348,716,000 | 4,313,223,000 | 4,868,473,000 | 4,680,028,000 | 4,689,227,000 | 4,729,356,000 | 4,767,941,000 | 4,713,628,000 | 4,719,348,000 | 4,696,419,000 | 4,655,948,000 | 4,760,693,000 | 4,710,966,000 | 4,621,582,000 | 4,740,859,000 | 4,672,949,000 | 4,826,316,000 | 4,873,442,000 | 5,014,467,000 | 4,860,076,000 | 3,211,961,000 |
cash and cash equivalents | 79,780,000 | 75,270,000 | 64,437,000 | 61,432,000 | 81,338,000 | 145,804,000 | 136,983,000 | 163,536,000 | 220,514,000 | 164,773,000 | 130,522,000 | 156,639,000 | 279,553,000 | 241,098,000 | 258,871,000 | 162,270,000 | 189,140,000 | 264,356,000 | 194,277,000 | 201,150,000 | 208,708,000 | 225,600,000 | 455,111,000 | 710,677,000 | 295,442,000 | 126,413,000 | 230,147,000 | 280,349,000 | 395,584,000 | 260,553,000 | 253,148,000 | 239,440,000 | 221,578,000 | 316,676,000 | 367,896,000 | 280,613,000 |
restricted cash | 35,075,000 | 28,020,000 | 23,342,000 | 29,530,000 | 38,997,000 | 37,388,000 | 33,161,000 | 42,366,000 | 39,752,000 | 35,668,000 | 38,257,000 | 46,205,000 | 42,339,000 | 32,975,000 | 212,998,000 | 212,848,000 | 30,073,000 | 37,739,000 | 34,900,000 | 37,543,000 | 39,839,000 | 37,736,000 | 37,602,000 | 20,356,000 | 18,577,000 | 16,103,000 | 13,573,000 | 16,429,000 | 17,877,000 | 138,979,000 | 127,061,000 | 22,248,000 | 26,830,000 | 21,881,000 | 17,521,000 | 3,735,000 |
tenant and other receivables | 27,079,000 | 21,810,000 | 23,797,000 | 21,372,000 | 22,474,000 | 23,478,000 | 30,734,000 | 31,427,000 | 40,223,000 | 44,231,000 | 44,080,000 | 44,863,000 | 46,241,000 | 56,304,000 | 48,221,000 | 46,605,000 | 45,702,000 | 44,496,000 | 51,128,000 | 43,724,000 | 45,567,000 | 55,903,000 | 47,460,000 | 56,102,000 | 56,036,000 | 52,941,000 | 53,965,000 | 51,787,000 | 49,979,000 | 46,568,000 | 40,409,000 | 37,860,000 | 52,433,000 | 46,734,000 | 50,474,000 | 28,232,000 |
deferred rent receivable | 183,731,000 | 182,891,000 | 179,853,000 | 175,709,000 | 170,986,000 | 170,153,000 | 185,221,000 | 181,295,000 | 178,111,000 | 171,229,000 | 171,121,000 | 165,797,000 | 159,287,000 | 170,824,000 | 161,994,000 | 154,487,000 | 151,024,000 | 192,265,000 | 187,882,000 | 182,565,000 | 177,043,000 | 170,547,000 | 184,394,000 | 177,951,000 | 174,728,000 | 169,721,000 | 172,386,000 | 162,641,000 | 152,323,000 | 143,473,000 | 137,200,000 | 144,837,000 | 148,094,000 | 146,315,000 | 145,683,000 | 143,395,000 |
investments in unconsolidated real estate ventures | 105,348,000 | 105,711,000 | 91,539,000 | 93,859,000 | 92,781,000 | 93,654,000 | 100,682,000 | 101,043,000 | 104,782,000 | 264,281,000 | 296,397,000 | 309,219,000 | 312,651,000 | 299,881,000 | 360,846,000 | 414,349,000 | 461,444,000 | 462,885,000 | 486,052,000 | 497,770,000 | 455,476,000 | 461,369,000 | 463,026,000 | 464,437,000 | 542,983,000 | 543,026,000 | 320,920,000 | 319,756,000 | 45,476,000 | |||||||
deferred leasing costs | 64,972,000 | 66,356,000 | 68,367,000 | 70,684,000 | 68,563,000 | 69,821,000 | 78,171,000 | 80,179,000 | 79,538,000 | 81,477,000 | ||||||||||||||||||||||||||
intangible assets | 29,422,000 | 30,333,000 | 51,988,000 | 52,863,000 | 45,525,000 | 47,000,000 | 49,045,000 | 52,421,000 | 54,401,000 | 56,616,000 | 139,876,000 | 144,308,000 | 149,243,000 | 162,246,000 | 155,812,000 | 157,819,000 | 162,139,000 | |||||||||||||||||||
other assets | 117,126,000 | 117,287,000 | 131,382,000 | 117,076,000 | 120,725,000 | 131,318,000 | 138,503,000 | 146,434,000 | 168,021,000 | 163,481,000 | 217,903,000 | 175,677,000 | 158,118,000 | 117,028,000 | 133,419,000 | 82,808,000 | 71,385,000 | 442,116,000 | 300,537,000 | 282,356,000 | 289,452,000 | 286,575,000 | 302,014,000 | 273,030,000 | 281,752,000 | 253,687,000 | 301,760,000 | 296,916,000 | 297,525,000 | 264,994,000 | 281,958,000 | 273,722,000 | 276,003,000 | 263,923,000 | 288,391,000 | 119,795,000 |
total assets | 4,335,794,000 | 4,388,191,000 | 4,417,103,000 | 4,549,295,000 | 4,732,603,000 | 5,020,540,000 | 5,182,477,000 | 5,325,116,000 | 5,405,350,000 | 5,518,515,000 | 5,666,168,000 | 5,783,602,000 | 5,835,020,000 | 5,903,438,000 | 5,895,980,000 | 5,579,902,000 | 6,315,880,000 | 6,386,206,000 | 6,008,978,000 | 6,008,211,000 | 6,019,317,000 | 6,079,547,000 | 6,277,324,000 | 6,495,777,000 | 6,139,813,000 | 5,986,251,000 | 6,022,264,000 | 6,007,275,000 | 6,024,694,000 | 5,997,285,000 | 6,011,194,000 | 5,914,949,000 | 6,061,746,000 | 6,071,807,000 | 6,015,027,000 | 3,909,945,000 |
liabilities, redeemable noncontrolling interests and equity | ||||||||||||||||||||||||||||||||||||
liabilities: | ||||||||||||||||||||||||||||||||||||
mortgage loans | 1,580,147,000 | 1,579,158,000 | 1,577,796,000 | 1,540,670,000 | 1,626,703,000 | 1,767,173,000 | 1,816,156,000 | 1,876,459,000 | 1,816,508,000 | 1,783,014,000 | 1,727,133,000 | 1,689,207,000 | 1,802,051,000 | 1,890,174,000 | ||||||||||||||||||||||
revolving credit facility | 230,000,000 | 205,000,000 | 160,000,000 | 226,000,000 | 162,000,000 | 85,000,000 | 90,000,000 | 40,000,000 | 62,000,000 | 92,000,000 | 62,000,000 | 100,000,000 | 300,000,000 | 300,000,000 | 500,000,000 | 200,000,000 | 200,000,000 | 35,729,000 | 115,751,000 | 115,751,000 | 115,751,000 | |||||||||||||||
term loans | 718,620,000 | 718,408,000 | 718,450,000 | 718,252,000 | 718,055,000 | 717,853,000 | 717,578,000 | 717,610,000 | 717,391,000 | 717,172,000 | 716,953,000 | 716,757,000 | ||||||||||||||||||||||||
accounts payable and accrued expenses | 71,833,000 | 84,748,000 | 79,385,000 | 81,312,000 | 92,329,000 | 101,096,000 | 99,773,000 | 107,810,000 | 133,084,000 | 124,874,000 | 135,085,000 | 129,325,000 | 124,268,000 | 138,060,000 | 130,408,000 | 112,784,000 | 108,436,000 | 106,136,000 | 105,307,000 | 99,310,000 | 95,813,000 | 103,102,000 | 111,440,000 | 125,433,000 | 124,811,000 | 157,702,000 | 160,031,000 | 140,132,000 | 134,776,000 | 130,960,000 | 147,211,000 | 130,431,000 | 130,185,000 | 138,607,000 | 131,627,000 | 31,779,000 |
other liabilities | 100,479,000 | 131,945,000 | 124,691,000 | 116,109,000 | 144,288,000 | 115,827,000 | 118,373,000 | 111,982,000 | 129,489,000 | 138,869,000 | 145,550,000 | 139,445,000 | 164,627,000 | 132,710,000 | 98,831,000 | 111,852,000 | 106,929,000 | 342,565,000 | 200,204,000 | 201,556,000 | 203,484,000 | 247,774,000 | 216,494,000 | 220,414,000 | 228,323,000 | 206,042,000 | 205,705,000 | 192,638,000 | 174,434,000 | 181,606,000 | 119,552,000 | 126,265,000 | 133,353,000 | 161,277,000 | 100,774,000 | 50,045,000 |
total liabilities | 2,701,079,000 | 2,719,259,000 | 2,660,322,000 | 2,683,299,000 | 2,743,375,000 | 2,787,850,000 | 2,841,880,000 | 2,853,861,000 | 2,796,472,000 | 2,825,929,000 | 2,816,721,000 | 2,736,734,000 | 2,638,202,000 | 2,708,016,000 | 2,617,732,000 | 2,235,305,000 | 2,894,785,000 | 2,925,064,000 | 2,378,289,000 | 2,290,331,000 | 2,289,544,000 | 2,342,593,000 | 2,416,465,000 | 2,556,008,000 | 2,145,619,000 | 1,986,816,000 | 2,021,497,000 | 1,990,189,000 | 2,442,815,000 | 2,451,793,000 | 2,379,339,000 | 2,295,660,000 | 2,455,546,000 | 2,487,864,000 | 2,372,215,000 | 1,747,805,000 |
commitments and contingencies | ||||||||||||||||||||||||||||||||||||
redeemable noncontrolling interests | 494,820,000 | 511,342,000 | 566,200,000 | 543,203,000 | 418,236,000 | 423,632,000 | 444,945,000 | 436,673,000 | 435,529,000 | 440,737,000 | 444,361,000 | 455,886,000 | 457,778,000 | 481,310,000 | 491,479,000 | 521,392,000 | 546,049,000 | 522,725,000 | 526,913,000 | 544,639,000 | 552,927,000 | 530,748,000 | 490,921,000 | 499,083,000 | 503,040,000 | 612,758,000 | 586,532,000 | 574,228,000 | 584,763,000 | 558,140,000 | 562,318,000 | 665,623,000 | 605,504,000 | 609,129,000 | 567,001,000 | |
shareholders' equity: | ||||||||||||||||||||||||||||||||||||
preferred shares, 0.01 par value - 200,000 shares authorized; none issued | ||||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 470,000 shares authorized; 58,413 and 59,527 shares issued and outstanding as of march 31, 2026 and december 31, 2025 | 585,000 | |||||||||||||||||||||||||||||||||||
class b common shares, 0.01 par value - 30,000 shares authorized; 16,124 and 13,645 shares issued and outstanding as of march 31, 2026 and december 31, 2025 | 161,000 | |||||||||||||||||||||||||||||||||||
additional paid-in capital | 2,335,815,000 | 2,338,881,000 | 2,305,136,000 | 2,397,255,000 | 2,607,115,000 | 2,790,403,000 | 2,789,447,000 | 2,855,724,000 | 2,941,724,000 | 2,978,852,000 | 3,043,036,000 | 3,156,511,000 | 3,282,290,000 | 3,263,738,000 | 3,265,659,000 | 3,285,511,000 | 3,444,793,000 | 3,539,916,000 | 3,606,462,000 | 3,650,217,000 | 3,631,277,000 | 3,657,643,000 | 3,721,059,000 | 3,742,205,000 | 3,723,795,000 | 3,633,042,000 | 3,643,333,000 | 3,644,699,000 | 3,150,133,000 | 3,155,256,000 | 3,150,899,000 | 3,035,194,000 | 3,080,926,000 | 3,063,625,000 | 3,099,056,000 | |
accumulated deficit | -1,199,107,000 | -1,180,410,000 | -1,114,062,000 | -1,074,678,000 | -1,043,003,000 | -997,283,000 | -907,777,000 | -865,782,000 | -825,304,000 | -776,962,000 | -722,847,000 | -641,813,000 | -607,465,000 | -628,636,000 | -558,788,000 | -513,746,000 | -609,363,000 | -609,331,000 | -495,033,000 | -466,230,000 | -433,675,000 | -412,944,000 | -307,975,000 | -255,162,000 | -188,239,000 | -231,164,000 | -205,192,000 | -184,373,000 | -151,157,000 | -176,018,000 | -110,219,000 | -105,962,000 | -99,999,000 | -95,809,000 | -28,827,000 | |
accumulated other comprehensive income | 2,441,000 | -1,613,000 | -1,087,000 | -404,000 | 6,149,000 | 15,092,000 | -477,000 | 28,830,000 | 31,352,000 | 20,042,000 | 51,668,000 | 43,491,000 | 32,036,000 | 45,644,000 | 46,870,000 | 18,640,000 | 9,935,000 | -16,744,000 | -25,578,000 | -19,156,000 | -3,452,000 | 6,700,000 | 24,132,000 | 19,662,000 | 14,867,000 | 1,612,000 | ||||||||||
total equity | 1,139,895,000 | 1,157,590,000 | 1,190,581,000 | 1,322,793,000 | 1,570,992,000 | 1,809,058,000 | 1,895,652,000 | 2,034,582,000 | 2,173,349,000 | 2,251,849,000 | 2,405,086,000 | 2,590,982,000 | 2,739,040,000 | 2,714,112,000 | 2,786,769,000 | 2,823,205,000 | 2,875,046,000 | 2,938,417,000 | 3,103,776,000 | 3,173,241,000 | 3,176,846,000 | 3,206,206,000 | 3,369,938,000 | 3,440,686,000 | 3,491,154,000 | 3,386,677,000 | 3,414,235,000 | 3,442,858,000 | 2,997,116,000 | 2,987,352,000 | 3,069,537,000 | 2,953,666,000 | 3,000,696,000 | 2,974,814,000 | 3,075,811,000 | 2,162,140,000 |
total liabilities, redeemable noncontrolling interests and equity | 4,335,794,000 | 4,388,191,000 | 4,417,103,000 | 4,549,295,000 | 4,732,603,000 | 5,020,540,000 | 5,182,477,000 | 5,325,116,000 | 5,405,350,000 | 5,518,515,000 | 5,666,168,000 | 5,783,602,000 | 5,835,020,000 | 5,903,438,000 | 5,895,980,000 | 5,579,902,000 | 6,315,880,000 | 6,386,206,000 | 6,008,978,000 | 6,008,211,000 | 6,019,317,000 | 6,079,547,000 | 6,277,324,000 | 6,495,777,000 | 6,139,813,000 | 5,986,251,000 | 6,022,264,000 | 6,007,275,000 | 6,024,694,000 | 5,997,285,000 | 6,011,194,000 | 5,914,949,000 | 6,061,746,000 | 6,071,807,000 | 6,015,027,000 | |
assets held for sale | 151,082,000 | 190,465,000 | 28,336,000 | 891,750,000 | 73,876,000 | 74,174,000 | 73,876,000 | 73,876,000 | 73,876,000 | 74,089,000 | 73,876,000 | 73,876,000 | 168,412,000 | 168,820,000 | 168,431,000 | 168,458,000 | 78,981,000 | 137,455,000 | 2,218,000 | 95,314,000 | ||||||||||||||||
liabilities related to assets held for sale | 956,000 | 901,000 | 368,006,000 | 213,000 | 213,000 | 66,000 | 486,000 | 3,717,000 | 45,657,000 | 58,524,000 | ||||||||||||||||||||||||||
common shares, 0.01 par value - 470,000 shares authorized; 59,527 and 84,500 shares issued and outstanding as of december 31, 2025 and 2024 | 596,000 | |||||||||||||||||||||||||||||||||||
class b common shares, 0.01 par value - 30,000 shares authorized; 13,645 shares issued and outstanding as of december 31, 2025 | 136,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 59,302 and 84,500 shares issued and outstanding as of september 30, 2025 and december 31, 2024 | 594,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 61,945 and 84,500 shares issued and outstanding as of june 30, 2025 and december 31, 2024 | 620,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 73,033 and 84,500 shares issued and outstanding as of march 31, 2025 and december 31, 2024 | 731,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 84,500 and 94,309 shares issued and outstanding as of december 31, 2024 and 2023 | 846,000 | |||||||||||||||||||||||||||||||||||
total shareholders' equity of jbg smith properties | 1,809,058,000 | 1,882,038,000 | 2,019,646,000 | 2,148,691,000 | 2,222,876,000 | 2,372,835,000 | 2,559,241,000 | 2,707,998,000 | 2,681,887,000 | 2,754,879,000 | 2,791,565,000 | 2,846,608,000 | 2,915,910,000 | 3,087,281,000 | 3,156,701,000 | 3,168,116,000 | 3,206,039,000 | 3,369,759,000 | 3,440,495,000 | 3,490,951,000 | 3,386,476,000 | 3,413,905,000 | 3,442,512,000 | 2,996,751,000 | 2,987,148,000 | 3,066,022,000 | 2,950,074,000 | 2,996,974,000 | 2,970,608,000 | 3,071,409,000 | ||||||
noncontrolling interests | 13,614,000 | 14,936,000 | 24,658,000 | 28,973,000 | 32,251,000 | 31,741,000 | 31,042,000 | 32,225,000 | 31,890,000 | 31,640,000 | 28,438,000 | 22,507,000 | 16,495,000 | 16,540,000 | 8,730,000 | 295,000 | ||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 84,434 and 94,309 shares issued and outstanding as of september 30, 2024 and december 31, 2023 | 845,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 87,306 and 94,309 shares issued and outstanding as of june 30, 2024 and december 31, 2023 | 874,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 91,819 and 94,309 shares issued and outstanding as of march 31, 2024 and december 31, 2023 | 919,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 94,309 and 114,013 shares issued and outstanding as of december 31, 2023 and 2022 | 944,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 97,717 and 114,013 shares issued and outstanding as of september 30, 2023 and december 31, 2022 | 978,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 105,139 and 114,013 shares issued and outstanding as of june 30, 2023 and december 31, 2022 | 1,052,000 | |||||||||||||||||||||||||||||||||||
unsecured term loans | 547,256,000 | 547,072,000 | 546,888,000 | 398,500,000 | 398,332,000 | 398,664,000 | 398,493,000 | 398,322,000 | 398,151,000 | 397,979,000 | 397,808,000 | 397,637,000 | 297,466,000 | 297,295,000 | 297,124,000 | 296,952,000 | 297,277,000 | 297,129,000 | 296,981,000 | |||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 113,583 and 114,013 shares issued and outstanding as of march 31, 2023 and december 31, 2022 | 1,137,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 114,013 and 127,378 shares issued and outstanding as of december 31, 2022 and 2021 | 1,141,000 | |||||||||||||||||||||||||||||||||||
mortgages payable | 1,741,605,000 | 1,612,169,000 | 1,613,082,000 | 1,777,699,000 | 1,674,285,000 | 1,591,143,000 | 1,591,883,000 | 1,593,738,000 | 1,690,723,000 | 1,312,524,000 | 1,294,806,000 | 1,125,777,000 | 1,358,571,000 | 1,360,467,000 | 1,835,842,000 | 1,838,381,000 | 1,769,938,000 | 1,906,402,000 | 1,921,048,000 | 2,025,692,000 | 1,977,674,000 | 1,376,077,000 | ||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 113,764 and 127,378 shares issued and outstanding as of september 30, 2022 and december 31, 2021 | 1,138,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 115,862 and 127,378 shares issued and outstanding as of june 30, 2022 and december 31, 2021 | 1,160,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 124,248 and 127,378 shares issued and outstanding as of march 31, 2022 and december 31, 2021 | 1,243,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 127,378 and 131,778 shares issued and outstanding as of december 31, 2021 and 2020 | 1,275,000 | |||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -15,950,000 | -25,446,000 | -28,605,000 | -30,800,000 | -39,979,000 | -44,650,000 | -47,886,000 | -45,941,000 | ||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 129,704 and 131,778 shares issued and outstanding as of september 30, 2021 and december 31, 2020 | 1,298,000 | |||||||||||||||||||||||||||||||||||
less accumulated depreciation | -1,297,406,000 | -1,249,613,000 | -1,232,690,000 | -1,227,027,000 | -1,194,743,000 | -1,155,114,000 | -1,119,571,000 | -1,109,897,000 | -1,093,665,000 | -1,075,309,000 | -1,051,875,000 | -1,020,596,000 | -1,045,632,000 | -1,045,112,000 | -1,011,330,000 | -982,454,000 | -959,352,000 | |||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 131,841 and 131,778 shares issued and outstanding as of june 30, 2021 and december 31, 2020 | 1,319,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 131,277 and 131,778 shares issued and outstanding as of march 31, 2021 and december 31, 2020 | 1,314,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 131,778 and 134,148 shares issued and outstanding as of december 31, 2020 and 2019 | 1,319,000 | |||||||||||||||||||||||||||||||||||
noncontrolling interests in consolidated subsidiaries | 167,000 | 179,000 | 191,000 | 203,000 | 201,000 | 330,000 | 346,000 | 365,000 | 204,000 | 3,515,000 | 3,592,000 | 3,722,000 | 4,206,000 | 4,402,000 | ||||||||||||||||||||||
preferred shares, 0.01 par value - 200,000 shares authorized, none issued | ||||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 132,438 and 134,148 shares issued and outstanding as of september 30, 2020 and december 31, 2019 | 1,325,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 133,708 and 134,148 shares issued and outstanding as of june 30, 2020 and december 31, 2019 | 1,338,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 133,517 and 134,148 shares issued and outstanding as of march 31, 2020 and december 31, 2019 | 1,336,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 134,148 and 120,937 shares issued and outstanding as of december 31, 2019 and 2018 | 1,342,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 134,127 and 120,937 shares issued and outstanding as of september 30, 2019 and december 31, 2018 | 1,342,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 134,127 and 120,937 shares issued and outstanding as of june 30, 2019 and december 31, 2018 | 1,342,000 | |||||||||||||||||||||||||||||||||||
investments in and advances to unconsolidated real estate ventures | 321,366,000 | 322,878,000 | 361,014,000 | 368,308,000 | 368,052,000 | 261,811,000 | 284,986,000 | |||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 122,594 and 120,937 shares issued and outstanding as of march 31, 2019 and december 31, 2018 | 1,227,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 120,937 and 117,955 shares issued and outstanding as of december 31, 2018 and 2017 | 1,210,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized; 120,917 and 117,955 shares issued and outstanding as of september 30, 2018 and december 31, 2017 | 1,210,000 | |||||||||||||||||||||||||||||||||||
unsecured term loan | 96,833,000 | 96,685,000 | 46,537,000 | 46,389,000 | ||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized and 117,955 shares issued and outstanding as of june 30, 2018 and december 31, 2017 | 1,180,000 | |||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized and 117,955 shares issued and outstanding as of march 31, 2018 and december 31, 2017 | 1,180,000 | |||||||||||||||||||||||||||||||||||
real estate held for sale | 8,293,000 | |||||||||||||||||||||||||||||||||||
receivable from former parent | ||||||||||||||||||||||||||||||||||||
payable to former parent | ||||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized and 117,955 shares issued and outstanding at december 31, 2017 | 1,180,000 | |||||||||||||||||||||||||||||||||||
former parent equity | ||||||||||||||||||||||||||||||||||||
common shares, 0.01 par value - 500,000 shares authorized and 117,957 shares issued and outstanding at september 30, 2017 | 1,180,000 | |||||||||||||||||||||||||||||||||||
construction in progress | 212,795,000 | |||||||||||||||||||||||||||||||||||
receivable from vornado realty trust | 76,738,000 | |||||||||||||||||||||||||||||||||||
liabilities and equity | ||||||||||||||||||||||||||||||||||||
payable to vornado realty trust | 289,904,000 | |||||||||||||||||||||||||||||||||||
equity: | ||||||||||||||||||||||||||||||||||||
parent equity | 2,161,845,000 | |||||||||||||||||||||||||||||||||||
total liabilities and equity | 3,909,945,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | |||||||||||||||||||||||||||||||||||
net loss | -23,047,000 | -56,170,000 | -35,012,000 | -23,181,000 | -53,698,000 | -77,000 | |||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||||||||
share-based compensation expense | 8,033,000 | 5,002,000 | 4,967,000 | 7,722,000 | 7,165,000 | 3,366,000 | 5,129,000 | 11,491,000 | 9,538,000 | 5,089,000 | 6,497,000 | 10,086,000 | 10,428,000 | 8,948,000 | 6,949,000 | 12,471,000 | 12,904,000 | 13,231,000 | 11,428,000 | 13,656,000 | 13,236,000 | 12,868,000 | 15,009,000 | 20,812,000 | 17,362,000 | 17,841,000 | 15,318,000 | 15,525,000 | 16,589,000 | 12,985,000 | 12,414,000 | 14,177,000 | 13,099,000 | 16,529,000 | |
depreciation and amortization expense, including amortization of deferred financing costs | 47,190,000 | 48,639,000 | 50,005,000 | 49,378,000 | 49,451,000 | 51,802,000 | 51,746,000 | 52,982,000 | 58,462,000 | 58,787,000 | 51,736,000 | 50,468,000 | 54,637,000 | ||||||||||||||||||||||
deferred rent | -788,000 | -2,960,000 | -4,109,000 | -4,707,000 | -837,000 | -1,391,000 | -3,943,000 | -3,146,000 | -7,051,000 | -70,000 | -5,338,000 | -6,523,000 | -8,733,000 | -8,838,000 | -7,527,000 | -3,531,000 | -3,706,000 | -4,501,000 | -5,293,000 | -5,576,000 | -6,594,000 | -960,000 | -7,396,000 | -5,114,000 | -6,614,000 | -10,010,000 | -10,822,000 | -9,001,000 | -9,341,000 | -6,176,000 | -1,615,000 | -2,971,000 | -3,294,000 | -1,139,000 | |
loss from unconsolidated real estate ventures | 374,000 | 4,255,000 | 592,000 | 7,126,000 | 25,679,000 | 4,600,000 | -3,145,000 | 25,583,000 | -20,503,000 | -3,953,000 | 943,000 | 3,194,000 | 965,000 | 13,485,000 | 2,692,000 | -3,601,000 | -23,991,000 | 1,902,000 | 2,778,000 | ||||||||||||||||
amortization of market lease intangibles | 82,000 | 83,000 | 35,000 | -69,000 | -14,000 | 61,000 | 56,000 | 58,000 | -193,000 | -257,000 | -257,000 | -253,000 | -253,000 | -253,000 | -268,000 | -353,000 | -293,000 | -238,000 | -200,000 | -458,000 | -86,000 | -96,000 | -97,000 | -163,000 | |||||||||||
amortization of lease incentives | 571,000 | 1,653,000 | 3,518,000 | 3,075,000 | 3,865,000 | 1,434,000 | 760,000 | 741,000 | 2,696,000 | -101,000 | 472,000 | 599,000 | 741,000 | 1,559,000 | 1,872,000 | 1,929,000 | 2,374,000 | 1,890,000 | 1,892,000 | 1,846,000 | 2,345,000 | 1,459,000 | 1,619,000 | 1,916,000 | 1,609,000 | 1,992,000 | 555,000 | 1,732,000 | 2,057,000 | -240,000 | 498,000 | 848,000 | 2,300,000 | ||
loss on the extinguishment of debt | 0 | 0 | 417,000 | 4,636,000 | -9,192,000 | 0 | 0 | 0 | |||||||||||||||||||||||||||
impairment loss | 1,500,000 | 20,780,000 | 4,771,000 | 31,813,000 | 8,483,000 | 37,191,000 | 0 | 1,025,000 | 17,211,000 | 30,919,000 | |||||||||||||||||||||||||
gain on the sale of real estate | -21,075,000 | -41,832,000 | -537,000 | -89,000 | -197,000 | -37,729,000 | -906,000 | -3,263,000 | 0 | ||||||||||||||||||||||||||
loss on operating lease and other receivables | 154,000 | 625,000 | 139,000 | 251,000 | 706,000 | 542,000 | 482,000 | 1,260,000 | 311,000 | 949,000 | 284,000 | 864,000 | -1,215,000 | 768,000 | 654,000 | 151,000 | 587,000 | 1,524,000 | |||||||||||||||||
loss from investments | -140,000 | -168,000 | 438,000 | ||||||||||||||||||||||||||||||||
return on capital from unconsolidated real estate ventures | 594,000 | 185,000 | 467,000 | 474,000 | 390,000 | 214,000 | 0 | 501,000 | 1,179,000 | 8,068,000 | 3,279,000 | 5,493,000 | 3,861,000 | 2,924,000 | 2,455,000 | 3,149,000 | 2,879,000 | 2,700,000 | 2,864,000 | 4,396,000 | 5,952,000 | 605,000 | 1,820,000 | 1,345,000 | 532,000 | 854,000 | 343,000 | 1,095,000 | 398,000 | 1,007,000 | 1,652,000 | 1,404,000 | 3,764,000 | 1,414,000 | |
other non-cash items | -156,000 | -4,398,000 | 1,298,000 | 840,000 | 1,308,000 | 1,180,000 | 2,111,000 | 2,150,000 | 365,000 | 2,232,000 | 2,786,000 | 2,768,000 | 3,032,000 | 1,835,000 | -2,571,000 | -1,676,000 | -3,105,000 | -1,505,000 | 110,000 | 1,106,000 | -633,000 | 4,061,000 | 161,000 | 220,000 | -116,000 | 497,000 | -251,000 | -248,000 | 519,000 | -111,000 | 670,000 | 688,000 | 141,000 | -2,538,000 | |
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||
tenant and other receivables | -5,423,000 | 1,362,000 | -2,519,000 | -570,000 | 1,674,000 | 6,746,000 | 220,000 | 7,536,000 | 3,710,000 | -1,100,000 | 85,000 | 514,000 | 11,624,000 | -8,110,000 | -2,197,000 | -1,054,000 | -1,793,000 | 5,108,000 | -7,500,000 | 1,368,000 | 9,836,000 | -4,474,000 | 5,441,000 | -5,988,000 | -4,210,000 | 695,000 | -2,845,000 | -2,047,000 | -4,185,000 | -7,749,000 | -3,710,000 | 11,915,000 | -6,038,000 | 1,519,000 | -8,089,000 |
other assets | -1,140,000 | 9,240,000 | -11,413,000 | -85,000 | -1,830,000 | 11,248,000 | -14,562,000 | 761,000 | 464,000 | 13,346,000 | -26,578,000 | 2,853,000 | 1,420,000 | 9,815,000 | -16,883,000 | -2,302,000 | -1,367,000 | -721,000 | -12,333,000 | -1,841,000 | 2,115,000 | 491,000 | -11,479,000 | 1,018,000 | -1,105,000 | 4,681,000 | -10,918,000 | -4,587,000 | 1,647,000 | 2,037,000 | -13,374,000 | -422,000 | -4,841,000 | 9,403,000 | -18,016,000 |
accounts payable and accrued expenses | -2,870,000 | 4,732,000 | 2,693,000 | -4,731,000 | -7,482,000 | 10,052,000 | 10,129,000 | -13,560,000 | -6,015,000 | 6,874,000 | 1,043,000 | -3,103,000 | -16,069,000 | 2,366,000 | -2,273,000 | 3,200,000 | -4,575,000 | 2,746,000 | 5,716,000 | 1,080,000 | -842,000 | -775,000 | 2,983,000 | 4,351,000 | -5,968,000 | 9,493,000 | 11,342,000 | -9,570,000 | -18,943,000 | 17,891,000 | 6,338,000 | -13,024,000 | -17,189,000 | -2,917,000 | 18,718,000 |
other liabilities | -450,000 | -754,000 | -149,000 | 1,177,000 | -1,320,000 | -4,868,000 | 2,080,000 | -4,073,000 | -503,000 | -6,798,000 | -3,252,000 | -5,142,000 | 1,780,000 | -1,119,000 | -2,888,000 | -9,805,000 | 23,748,000 | 21,000 | -4,152,000 | 1,609,000 | -1,577,000 | -11,567,000 | -3,351,000 | -9,531,000 | -2,865,000 | -11,211,000 | 5,159,000 | -4,301,000 | -7,867,000 | -7,587,000 | -9,554,000 | -2,742,000 | 746,000 | -6,580,000 | -2,084,000 |
net cash from operating activities | 3,409,000 | 32,632,000 | 8,873,000 | 18,817,000 | 12,935,000 | 42,203,000 | 26,377,000 | 23,770,000 | 37,043,000 | 68,479,000 | 25,462,000 | 46,799,000 | 42,632,000 | 47,671,000 | 22,717,000 | 38,051,000 | 69,598,000 | 63,210,000 | 30,856,000 | 57,054,000 | 66,502,000 | 41,166,000 | 42,336,000 | 43,603,000 | 41,916,000 | 61,347,000 | 59,856,000 | 34,875,000 | 17,908,000 | 51,532,000 | 43,116,000 | 58,884,000 | 34,661,000 | 50,790,000 | -49,265,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 3,409,000 | 32,632,000 | 8,873,000 | 18,817,000 | 12,935,000 | 42,203,000 | 26,377,000 | 23,770,000 | 37,043,000 | 68,479,000 | 25,462,000 | 46,799,000 | 42,632,000 | 47,671,000 | 22,717,000 | 38,051,000 | 69,598,000 | 63,210,000 | 30,856,000 | 57,054,000 | 66,502,000 | 41,166,000 | 42,336,000 | 43,603,000 | 41,916,000 | 61,347,000 | 59,856,000 | 34,875,000 | 17,908,000 | 51,532,000 | 43,116,000 | 58,884,000 | 34,661,000 | 50,790,000 | -49,265,000 |
investing activities | |||||||||||||||||||||||||||||||||||
development costs, construction in progress and real estate additions | -23,236,000 | -30,104,000 | -29,751,000 | -33,326,000 | -29,091,000 | -45,978,000 | -58,614,000 | -65,455,000 | -47,982,000 | -92,408,000 | -76,560,000 | -86,444,000 | -78,332,000 | -107,906,000 | -90,721,000 | -75,428,000 | -52,686,000 | -64,816,000 | -40,953,000 | -38,909,000 | -28,499,000 | -62,041,000 | -64,224,000 | -74,219,000 | -107,013,000 | -146,659,000 | -113,348,000 | -112,340,000 | -68,667,000 | -125,547,000 | -94,678,000 | -81,075,000 | -84,643,000 | -94,671,000 | -61,175,000 |
proceeds from the sale of real estate | 46,582,000 | 7,544,000 | 156,034,000 | 192,828,000 | 188,779,000 | 105,014,000 | 84,600,000 | 0 | 12,410,000 | 119,433,000 | 93,094,000 | 0 | 68,998,000 | 5,800,000 | 0 | 919,959,000 | 3,149,000 | ||||||||||||||||||
proceeds from derivative financial instruments | 1,879,000 | 2,347,000 | 2,409,000 | 2,430,000 | 2,537,000 | 3,157,000 | 2,132,000 | 1,476,000 | 1,465,000 | 1,457,000 | |||||||||||||||||||||||||
distributions of capital from unconsolidated real estate ventures and other investments | 1,312,000 | 1,575,000 | 236,000 | 465,000 | 682,000 | 5,000 | 3,625,000 | 160,250,000 | 1,239,000 | ||||||||||||||||||||||||||
investments in unconsolidated real estate ventures and other investments | -1,234,000 | -20,906,000 | -1,350,000 | -2,050,000 | -1,376,000 | -1,137,000 | -1,230,000 | -1,256,000 | -2,541,000 | -4,660,000 | -4,173,000 | -3,282,000 | -16,889,000 | -4,913,000 | -5,493,000 | -73,955,000 | -7,230,000 | ||||||||||||||||||
net cash from investing activities | 23,991,000 | -39,807,000 | 126,398,000 | 109,410,000 | 161,314,000 | 61,738,000 | 20,425,000 | -61,610,000 | 123,602,000 | 25,061,000 | 12,260,000 | -108,827,000 | -26,673,000 | -150,381,000 | -110,902,000 | 818,255,000 | -32,951,000 | -271,990,000 | -26,306,000 | -40,930,000 | -29,515,000 | -109,994,000 | -91,042,000 | -10,571,000 | 43,917,000 | -95,234,000 | -76,730,000 | -112,896,000 | 44,188,000 | -22,554,000 | 37,585,000 | 144,641,000 | -93,345,000 | -95,860,000 | 144,813,000 |
financing activities | |||||||||||||||||||||||||||||||||||
borrowings under mortgage loans | 1,595,000 | 1,791,000 | 6,354,000 | 9,822,000 | 265,205,000 | 75,283,000 | 23,034,000 | 57,978,000 | 31,600,000 | 57,558,000 | 35,868,000 | 28,411,000 | 223,303,000 | ||||||||||||||||||||||
borrowings under revolving credit facility | 60,000,000 | 70,000,000 | 135,000,000 | 434,000,000 | 197,000,000 | 95,000,000 | 50,000,000 | 143,000,000 | 30,000,000 | 124,750,000 | 125,000,000 | 0 | 0 | 0 | 300,000,000 | 200,000,000 | 0 | 0 | |||||||||||||||||
repayments of mortgage loans | -1,548,000 | -1,372,000 | -604,000 | -97,857,000 | -408,040,000 | -112,292,000 | -84,102,000 | -774,000 | -786,000 | -1,719,000 | -1,666,000 | -144,609,000 | -133,860,000 | ||||||||||||||||||||||
repayments of revolving credit facility | -35,000,000 | -25,000,000 | -201,000,000 | -370,000,000 | -120,000,000 | -100,000,000 | 0 | -103,000,000 | -92,000,000 | -154,750,000 | -95,000,000 | -100,000,000 | 0 | 0 | -500,000,000 | 0 | -200,000,000 | 0 | -35,729,000 | ||||||||||||||||
payments on derivative financial instruments | -818,000 | 0 | -4,965,000 | -6,891,000 | -1,104,000 | 0 | -3,527,000 | -1,476,000 | -1,465,000 | 0 | |||||||||||||||||||||||||
debt issuance and modification costs | -270,000 | 0 | 0 | 0 | -5,207,000 | -4,737,000 | -310,000 | -39,000 | -10,000 | 0 | -366,000 | -10,007,000 | -7,206,000 | -2,000 | |||||||||||||||||||||
redemption of noncontrolling interests | -777,000 | ||||||||||||||||||||||||||||||||||
proceeds from common shares issued pursuant to espp | 238,000 | 147,000 | 166,000 | 243,000 | 244,000 | 153,000 | 201,000 | 299,000 | 292,000 | 437,000 | 0 | 658,000 | 0 | 714,000 | 0 | ||||||||||||||||||||
common shares repurchased | -25,401,000 | -7,870,000 | -62,936,000 | -225,255,000 | -147,593,000 | -2,399,000 | -52,013,000 | -66,914,000 | -49,444,000 | -61,462,000 | -118,006,000 | -135,747,000 | -20,098,000 | 0 | -64,002,000 | -205,892,000 | -91,148,000 | -75,386,000 | -63,097,000 | 0 | -19,203,000 | -30,340,000 | -33,242,000 | -15,000 | -41,177,000 | ||||||||||
dividends paid to common shareholders | -10,417,000 | -10,384,000 | -10,829,000 | -12,433,000 | -14,788,000 | -14,821,000 | -15,015,000 | -16,105,000 | -16,066,000 | -21,519,000 | -23,028,000 | -23,791,000 | -25,664,000 | -25,616,000 | -25,749,000 | -27,658,000 | -28,665,000 | -29,187,000 | -29,696,000 | -29,582,000 | -29,650,000 | -29,664,000 | -30,020,000 | -30,143,000 | -30,184,000 | -30,180,000 | -30,181,000 | -30,175,000 | -39,298,000 | -27,206,000 | -27,089,000 | -26,537,000 | -26,540,000 | ||
distributions to redeemable noncontrolling interests | -3,437,000 | -3,604,000 | -3,557,000 | -2,898,000 | -2,823,000 | -2,850,000 | -2,874,000 | -2,909,000 | -2,931,000 | -3,699,000 | -3,724,000 | -3,927,000 | -3,968,000 | -4,011,000 | -4,202,000 | -4,191,000 | -4,005,000 | -4,099,000 | -3,993,000 | -3,927,000 | -5,785,000 | -3,697,000 | -3,723,000 | -3,782,000 | -3,828,000 | -3,826,000 | -3,830,000 | -3,839,000 | -5,895,000 | -4,078,000 | -4,106,000 | -4,657,000 | -4,557,000 | ||
net cash from financing activities | -15,835,000 | 22,686,000 | -138,454,000 | -157,600,000 | -237,106,000 | -90,893,000 | -82,560,000 | -16,524,000 | -100,820,000 | -61,878,000 | -71,787,000 | -57,020,000 | 31,860,000 | -95,086,000 | 184,936,000 | -700,401,000 | -119,529,000 | 281,698,000 | -14,066,000 | -25,978,000 | -51,776,000 | -160,549,000 | -189,614,000 | 383,982,000 | 85,670,000 | -36,184,000 | -38,662,000 | -48,167,000 | -9,655,000 | 37,820,000 | -190,245,000 | -31,465,000 | 12,468,000 | -8,265,000 | |
net increase in cash and cash equivalents, and restricted cash | 11,565,000 | -29,373,000 | -62,857,000 | -54,364,000 | 59,825,000 | 31,662,000 | -34,065,000 | -119,048,000 | 47,819,000 | -197,796,000 | 96,751,000 | ||||||||||||||||||||||||
cash and cash equivalents, and restricted cash, beginning of period | 103,290,000 | 0 | 0 | 0 | 183,192,000 | 0 | 0 | 0 | 200,441,000 | 0 | 0 | 0 | 274,073,000 | 0 | 0 | 0 | 302,095,000 | ||||||||||||||||||
cash and cash equivalents, and restricted cash, end of period | 114,855,000 | 15,511,000 | -3,183,000 | -29,373,000 | 120,335,000 | 13,048,000 | -35,758,000 | -54,364,000 | 260,266,000 | 31,662,000 | -34,065,000 | -119,048,000 | 321,892,000 | -197,796,000 | 96,751,000 | 155,905,000 | 219,213,000 | ||||||||||||||||||
cash and cash equivalents | 79,780,000 | 10,833,000 | 3,005,000 | -19,906,000 | 81,338,000 | 8,821,000 | -26,553,000 | -56,978,000 | 220,514,000 | 34,251,000 | -6,873,000 | -7,558,000 | 208,708,000 | -229,511,000 | -255,566,000 | 415,235,000 | 295,442,000 | ||||||||||||||||||
restricted cash | 35,075,000 | 4,678,000 | -6,188,000 | -9,467,000 | 38,997,000 | 4,227,000 | -9,205,000 | 2,614,000 | 39,752,000 | -2,589,000 | -2,643,000 | -2,296,000 | 39,839,000 | 134,000 | 17,246,000 | 1,779,000 | 18,577,000 | -326,000 | |||||||||||||||||
cash and cash equivalents, and restricted cash | 114,855,000 | 15,511,000 | -3,183,000 | -29,373,000 | 120,335,000 | 13,048,000 | -35,758,000 | -54,364,000 | 260,266,000 | 31,662,000 | |||||||||||||||||||||||||
supplemental disclosure of cash flow and non-cash information | |||||||||||||||||||||||||||||||||||
cash paid for interest | 32,523,000 | 33,084,000 | 32,202,000 | 30,342,000 | 32,653,000 | 32,147,000 | 31,448,000 | 27,124,000 | 25,623,000 | 23,339,000 | 15,097,000 | 14,720,000 | 10,927,000 | ||||||||||||||||||||||
accrued capital expenditures | 27,976,000 | ||||||||||||||||||||||||||||||||||
write-off of fully depreciated assets | 6,224,000 | 72,009,000 | 10,163,000 | 5,851,000 | 11,954,000 | 3,192,000 | 9,982,000 | 8,061,000 | 10,574,000 | 2,792,000 | 16,015,000 | 6,267,000 | 7,111,000 | ||||||||||||||||||||||
cash paid for income taxes | 7,000 | ||||||||||||||||||||||||||||||||||
redemption of op units for common shares | 7,825,000 | 11,208,000 | 9,296,000 | 1,135,000 | 9,719,000 | 3,302,000 | 3,553,000 | 2,341,000 | 7,875,000 | ||||||||||||||||||||||||||
redeemable noncontrolling interests redemption value adjustment | -14,920,000 | -30,161,000 | 38,897,000 | ||||||||||||||||||||||||||||||||
accrual for common shares repurchased pending settlement | 40,142,000 | ||||||||||||||||||||||||||||||||||
cash paid for amounts included in the measurement of lease liabilities for operating leases | 1,356,000 | 1,590,000 | 1,698,000 | 1,665,000 | 1,664,000 | 1,659,000 | 1,649,000 | 4,715,000 | 1,616,000 | 1,611,000 | 588,000 | 2,619,000 | 1,396,000 | ||||||||||||||||||||||
amortization/accretion of market lease intangibles | |||||||||||||||||||||||||||||||||||
loss on the sale of real estate | 396,000 | -2,313,000 | -40,700,000 | 136,000 | |||||||||||||||||||||||||||||||
income from investments | -37,000 | -80,000 | -2,581,000 | -677,000 | -20,000 | 191,000 | 142,000 | 493,000 | -1,798,000 | 245,000 | 549,000 | -1,211,000 | -14,071,000 | ||||||||||||||||||||||
acquisition of real estate | 0 | 2,446,000 | 0 | 0 | -19,101,000 | -450,000 | -50,070,000 | ||||||||||||||||||||||||||||
borrowings under term loans | 0 | 0 | |||||||||||||||||||||||||||||||||
acquisition/redemption of noncontrolling interests | -22,840,000 | 0 | |||||||||||||||||||||||||||||||||
proceeds from the sale of interest in consolidated real estate venture | 0 | 0 | |||||||||||||||||||||||||||||||||
distributions to noncontrolling interests | -16,000 | 0 | -15,000 | -10,000 | -17,000 | 0 | -16,000 | -145,000 | -24,000 | 0 | -23,000 | 0 | -76,000 | 0 | 99,000 | -319,000 | 0 | -120,000 | -4,000 | ||||||||||||||||
net decrease in cash and cash equivalents, and restricted cash | 15,511,000 | 13,048,000 | -82,882,000 | ||||||||||||||||||||||||||||||||
accrued dividends to common shareholders | |||||||||||||||||||||||||||||||||||
accrued distributions to redeemable noncontrolling interests | |||||||||||||||||||||||||||||||||||
recognition (derecognition) of operating lease right-of-use asset | 0 | 0 | |||||||||||||||||||||||||||||||||
recognition (derecognition) of liabilities related to operating lease right-of-use asset | 0 | 0 | |||||||||||||||||||||||||||||||||
acquisition of noncontrolling interests | |||||||||||||||||||||||||||||||||||
accrued capital expenditures included in accounts payable and accrued expenses | -1,241,000 | -4,289,000 | 40,768,000 | -7,572,000 | -18,339,000 | -12,837,000 | 77,358,000 | -17,810,000 | -19,275,000 | -6,051,000 | 76,418,000 | ||||||||||||||||||||||||
derecognition of operating lease right-of-use asset | |||||||||||||||||||||||||||||||||||
derecognition of liabilities related to operating lease right-of-use asset | |||||||||||||||||||||||||||||||||||
income from unconsolidated real estate ventures | 226,000 | -975,000 | -510,000 | -433,000 | 1,144,000 | ||||||||||||||||||||||||||||||
operating activities: | |||||||||||||||||||||||||||||||||||
net income | -33,414,000 | -42,190,000 | -37,664,000 | -66,101,000 | -12,254,000 | 24,310,000 | -20,850,000 | -21,581,000 | -3,318,000 | -24,069,000 | -50,168,000 | -25,005,000 | -40,263,000 | 48,175,000 | 38,692,000 | 10,532,000 | -3,328,000 | 28,248,000 | 994,000 | 26,382,000 | 24,023,000 | -4,786,000 | -18,752,000 | ||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||
investing activities: | |||||||||||||||||||||||||||||||||||
proceeds from the sale of investments | 0 | 0 | 1,234,000 | 17,796,000 | |||||||||||||||||||||||||||||||
financing activities: | |||||||||||||||||||||||||||||||||||
contributions from noncontrolling interests | 0 | 145,000 | 3,240,000 | 5,998,000 | 6,662,000 | 0 | 7,781,000 | 9,683,000 | 82,000 | 0 | 1,000 | 124,000 | 0 | 223,000 | |||||||||||||||||||||
cash and cash equivalents, and restricted cash, end of period: | |||||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow and non-cash information: | |||||||||||||||||||||||||||||||||||
derecognition of finance lease right-of-use assets | |||||||||||||||||||||||||||||||||||
derecognition of liabilities related to finance lease right-of-use assets | |||||||||||||||||||||||||||||||||||
redemption of partner's noncontrolling interest | 0 | 0 | 0 | -647,000 | |||||||||||||||||||||||||||||||
recognition of operating lease right-of-use asset | |||||||||||||||||||||||||||||||||||
recognition of liabilities related to operating lease right-of-use asset | |||||||||||||||||||||||||||||||||||
finance lease payments | -250,000 | -250,000 | -389,000 | -2,642,000 | -34,000 | -37,000 | -33,000 | -33,000 | |||||||||||||||||||||||||||
deconsolidation of real estate asset | |||||||||||||||||||||||||||||||||||
(derecognition) recognition of finance lease right-of-use assets | |||||||||||||||||||||||||||||||||||
(derecognition) recognition of liabilities related to finance lease right-of-use assets | |||||||||||||||||||||||||||||||||||
deposits for real estate and other acquisitions | -150,000 | ||||||||||||||||||||||||||||||||||
conversion of op units to common shares | |||||||||||||||||||||||||||||||||||
distributions of capital from unconsolidated real estate ventures | 4,958,000 | 2,294,000 | 46,445,000 | 6,020,000 | 0 | 35,605,000 | 247,000 | 0 | 0 | 0 | 1,002,000 | 6,555,000 | 12,168,000 | 890,000 | 0 | 1,350,000 | |||||||||||||||||||
borrowings under unsecured term loans | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
depreciation and amortization, including amortization of deferred financing costs | 51,100,000 | 50,535,000 | 59,162,000 | 59,237,000 | 57,773,000 | ||||||||||||||||||||||||||||||
borrowings under mortgages payable | 105,000,000 | 0 | 384,946,000 | 20,159,000 | 175,000,000 | 74,318,000 | 2,479,000 | 22,797,000 | 18,547,000 | ||||||||||||||||||||||||||
repayments of mortgages payable | -101,495,000 | -165,954,000 | -1,178,000 | -1,149,000 | -1,120,000 | -1,108,000 | -2,234,000 | -97,403,000 | -2,243,000 | -2,216,000 | -2,221,000 | -236,193,000 | -2,136,000 | -477,609,000 | -3,065,000 | -45,609,000 | -97,264,000 | -101,800,000 | -68,221,000 | ||||||||||||||||
loss on extinguishment of debt | 29,000 | 0 | 0 | 33,000 | 3,916,000 | 0 | 0 | 79,000 | 12,000 | ||||||||||||||||||||||||||
debt issuance costs | -725,000 | -531,000 | -863,000 | -1,160,000 | 0 | -4,587,000 | 0 | -5,082,000 | -496,000 | -9,278,000 | 0 | 0 | -2,742,000 | -601,000 | -15,756,000 | ||||||||||||||||||||
gain on sale of real estate | 0 | 0 | 0 | 0 | 0 | -59,477,000 | -57,870,000 | -8,088,000 | 0 | -39,033,000 | -6,394,000 | -11,938,000 | -33,396,000 | -455,000 | |||||||||||||||||||||
income from investment funds | |||||||||||||||||||||||||||||||||||
impairment of corporate assets | |||||||||||||||||||||||||||||||||||
proceeds from sale of real estate | 0 | 0 | 0 | 0 | 0 | 154,493,000 | 219,701,000 | 40,134,000 | 0 | 117,676,000 | 66,928,000 | 113,267,000 | 230,728,000 | 2,154,000 | |||||||||||||||||||||
investments in unconsolidated real estate ventures and other | -9,095,000 | ||||||||||||||||||||||||||||||||||
proceeds from the issuance of common stock, net of issuance costs | -747,000 | 0 | |||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents and restricted cash | 72,918,000 | -9,516,000 | -9,854,000 | -14,789,000 | -229,377,000 | -238,320,000 | 417,014,000 | 171,503,000 | -101,204,000 | 13,929,000 | 19,323,000 | 118,521,000 | 13,280,000 | -90,149,000 | |||||||||||||||||||||
cash and cash equivalents and restricted cash, beginning of period | 0 | 0 | |||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash, end of period | 72,918,000 | -9,516,000 | |||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash, end of period: | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash | -9,516,000 | -9,854,000 | 248,547,000 | -229,377,000 | -238,320,000 | 417,014,000 | 314,019,000 | ||||||||||||||||||||||||||||
losses on operating lease and other receivables | 474,000 | 501,000 | 11,055,000 | 4,136,000 | |||||||||||||||||||||||||||||||
investments in unconsolidated real estate ventures | -20,974,000 | -1,016,000 | -2,362,000 | -1,544,000 | -7,170,000 | -3,563,000 | -11,343,000 | -2,916,000 | |||||||||||||||||||||||||||
depreciation and amortization, including amortization of debt issuance costs | 65,747,000 | 65,202,000 | 57,499,000 | 53,536,000 | 49,360,000 | 50,927,000 | 47,815,000 | 47,117,000 | 49,936,000 | 68,701,000 | 47,646,000 | 49,139,000 | 50,173,000 | 52,896,000 | 45,121,000 | ||||||||||||||||||||
cash and cash equivalents and restricted cash as of the beginning of the period | 263,336,000 | 0 | 0 | 0 | 142,516,000 | 0 | 0 | 399,532,000 | 0 | ||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of the end of the period | 248,547,000 | -229,377,000 | -238,320,000 | 417,014,000 | 314,019,000 | -53,058,000 | -116,683,000 | 413,461,000 | 118,521,000 | ||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of end of the period: | |||||||||||||||||||||||||||||||||||
reduction of gain on bargain purchase | |||||||||||||||||||||||||||||||||||
acquisition of interests in unconsolidated real estate ventures, net of cash acquired | 0 | 0 | 0 | -386,000 | |||||||||||||||||||||||||||||||
distributions of capital from sales of unconsolidated real estate ventures | |||||||||||||||||||||||||||||||||||
other | |||||||||||||||||||||||||||||||||||
acquisition of interest in consolidated real estate venture | 0 | ||||||||||||||||||||||||||||||||||
proceeds from common stock issued pursuant to espp | 828,000 | 0 | |||||||||||||||||||||||||||||||||
conversion of common limited partnership units to common shares | 4,796,000 | 4,752,000 | 31,126,000 | ||||||||||||||||||||||||||||||||
recognition (derecognition) of operating lease right-of-use assets | 0 | 0 | -13,151,000 | ||||||||||||||||||||||||||||||||
recognition (derecognition) of liabilities related to operating lease right-of-use assets | 0 | 0 | -13,151,000 | ||||||||||||||||||||||||||||||||
recognition of finance lease right-of-use assets | 0 | 0 | 42,354,000 | ||||||||||||||||||||||||||||||||
recognition of liabilities related to finance lease right-of-use assets | 0 | 0 | 40,684,000 | ||||||||||||||||||||||||||||||||
net unrealized loss on ineffective derivative financial instruments | 17,000 | -47,000 | |||||||||||||||||||||||||||||||||
deposits for real estate acquisitions | 8,275,000 | -600,000 | 0 | -8,525,000 | |||||||||||||||||||||||||||||||
losses on operating lease receivables | 2,718,000 | 279,000 | 784,000 | -1,071,000 | 1,568,000 | ||||||||||||||||||||||||||||||
reduction of gain (gain) on bargain purchase | 0 | ||||||||||||||||||||||||||||||||||
deferred tax benefit | |||||||||||||||||||||||||||||||||||
cash and restricted cash received in connection with the combination | |||||||||||||||||||||||||||||||||||
repayment of notes receivable | 0 | ||||||||||||||||||||||||||||||||||
proceeds from repayment of receivable from former parent | 0 | ||||||||||||||||||||||||||||||||||
contributions from former parent | |||||||||||||||||||||||||||||||||||
repayment of borrowings from former parent | 0 | ||||||||||||||||||||||||||||||||||
proceeds from borrowings from former parent | 0 | ||||||||||||||||||||||||||||||||||
net cash from in financing activities | |||||||||||||||||||||||||||||||||||
jbg smith propertiesconsolidated and combined statements of cash flows | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of the beginning of the year | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of the end of the year | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of end of the year: | |||||||||||||||||||||||||||||||||||
transfer of mortgage payable to former parent | |||||||||||||||||||||||||||||||||||
cash received (payments) for income taxes | |||||||||||||||||||||||||||||||||||
deconsolidation of properties | |||||||||||||||||||||||||||||||||||
acquisition of consolidated real estate venture | |||||||||||||||||||||||||||||||||||
initial recognition of operating right-of-use assets | |||||||||||||||||||||||||||||||||||
initial recognition of lease liabilities related to operating right-of-use assets | |||||||||||||||||||||||||||||||||||
non-cash transactions related to the formation transaction: | |||||||||||||||||||||||||||||||||||
issuance of common limited partnership units at the separation | |||||||||||||||||||||||||||||||||||
issuance of common shares at the separation | |||||||||||||||||||||||||||||||||||
issuance of common shares in connection with the combination | |||||||||||||||||||||||||||||||||||
issuance of common limited partnership units in connection with the combination | |||||||||||||||||||||||||||||||||||
contribution from former parent in connection with the separation | |||||||||||||||||||||||||||||||||||
amortization of above- and below-market lease intangibles | -214,000 | -140,000 | -132,000 | -162,000 | -201,000 | 239,000 | -96,000 | 10,000 | |||||||||||||||||||||||||||
net unrealized loss on derivative financial instruments not designated as cash flow hedges | 2,000 | 0 | 48,000 | ||||||||||||||||||||||||||||||||
acquisition of ownership interest in consolidated real estate venture | |||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | |||||||||||||||||||||||||||||||||||
investments in and advances to unconsolidated real estate ventures | -2,851,000 | -8,534,000 | -6,496,000 | -4,366,000 | -11,801,000 | -14,880,000 | |||||||||||||||||||||||||||||
unrealized gain on interest rate swaps and caps | 338,000 | 287,000 | -432,000 | -1,119,000 | |||||||||||||||||||||||||||||||
bad debt expense | 707,000 | 1,026,000 | 1,211,000 | 354,000 | 1,999,000 | ||||||||||||||||||||||||||||||
other investments | 0 | 0 | -646,000 | -19,000 | 1,324,000 | -2,135,000 | |||||||||||||||||||||||||||||
contributions from (distributions to) former parent | |||||||||||||||||||||||||||||||||||
capital lease payments | -32,000 | -30,000 | -26,000 | -26,000 | -51,000 | ||||||||||||||||||||||||||||||
proceeds from common stock issued pursuant to employee share purchase plan | |||||||||||||||||||||||||||||||||||
distribution of capital from sale of interest in an unconsolidated real estate venture | |||||||||||||||||||||||||||||||||||
borrowings under unsecured term loan | 0 | 50,000,000 | |||||||||||||||||||||||||||||||||
acquisition of promote interest in unconsolidated real estate ventures | -548,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of beginning of the period | 338,557,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash as of end of the period | 248,408,000 | ||||||||||||||||||||||||||||||||||
gain on bargain purchase | 3,395,000 | ||||||||||||||||||||||||||||||||||
realized loss on interest rate swaps and caps | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash at beginning of the year | |||||||||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash at end of the year | |||||||||||||||||||||||||||||||||||
unrealized gain on interest rate swaps | |||||||||||||||||||||||||||||||||||
cash received in connection with the combination | |||||||||||||||||||||||||||||||||||
proceeds from borrowings | 187,769,000 | ||||||||||||||||||||||||||||||||||
repayments of borrowings | -185,992,000 | ||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 87,283,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of the period | 0 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of the period | 87,283,000 | ||||||||||||||||||||||||||||||||||
net income attributable to jbg smith properties | |||||||||||||||||||||||||||||||||||
straight-line rent | |||||||||||||||||||||||||||||||||||
equity in loss of unconsolidated real estate ventures | |||||||||||||||||||||||||||||||||||
accretion of below-market lease intangibles | |||||||||||||||||||||||||||||||||||
operating distributions from unconsolidated real estate ventures | |||||||||||||||||||||||||||||||||||
other non-cash adjustments | |||||||||||||||||||||||||||||||||||
contributions from vornado realty trust | |||||||||||||||||||||||||||||||||||
proceeds from borrowings from vornado realty trust | |||||||||||||||||||||||||||||||||||
transfer of mortgage payable to vornado realty trust | |||||||||||||||||||||||||||||||||||
cash payments for income taxes |
