JBG SMITH posts Q2 net loss of $10.5 million as Core FFO rises to $39.8 million
JBG SMITH reported a second-quarter 2023 net loss of $10.5 million, or $0.10 per diluted share, compared with net income of $123.3 million, or $1.02 per diluted share, a year earlier. Core FFO attributable to common shareholders rose to $39.8 million, or $0.36 per diluted share, from $37.1 million, or $0.31, and the company repurchased 9.3 million shares for $135.7 million during the quarter.
- Net loss of $10.5 million ($0.10 per diluted share) for the three months ended June 30, 2023, versus net income of $123.3 million ($1.02) a year earlier
- Core FFO of $39.8 million ($0.36 per diluted share), up from $37.1 million ($0.31) in the second quarter of 2022
- Office portfolio 86.3% leased and 84.0% occupied as of June 30, 2023; multifamily portfolio 96.8% leased and 93.7% occupied
- Quarterly dividend of $0.225 per common share declared August 3, 2023, payable August 31, 2023