First Trust Advisors LP Takes Position in JBG SMITH Properties (JBGS)
First Trust Advisors LP bought a new position in JBG SMITH Properties (NYSE:JBGS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 131,336 shares of the company’s stock, valued at approximately $4,790,000. First Trust Advisors LP owned 0.11% of JBG SMITH Properties as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TCW Group Inc. acquired a new stake in JBG SMITH Properties in the 2nd quarter worth about $4,448,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in JBG SMITH Properties by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 93,900 shares of the company’s stock worth $3,425,000 after purchasing an additional 2,146 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in JBG SMITH Properties in the 2nd quarter worth about $276,000. BNP Paribas Arbitrage SA raised its stake in JBG SMITH Properties by 26.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 28,070 shares of the company’s stock worth $1,024,000 after purchasing an additional 5,789 shares in the last quarter. Finally, Amalgamated Bank raised its stake in JBG SMITH Properties by 98.4% in the 2nd quarter. Amalgamated Bank now owns 20,421 shares of the company’s stock worth $745,000 after purchasing an additional 10,127 shares in the last quarter. Institutional investors own 78.71% of the company’s stock.
In related news, Director University Yale sold 40,533 shares of JBG SMITH Properties stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $38.12, for a total transaction of $1,545,117.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 13.33% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, August 27th. Stockholders of record on Tuesday, August 14th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, August 13th.
Several brokerages have weighed in on JBGS. Zacks Investment Research cut shares of JBG SMITH Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Stifel Nicolaus began coverage on shares of JBG SMITH Properties in a research note on Thursday, June 21st. They issued a “sell” rating and a $34.00 price objective for the company.
JBG SMITH Properties Company Profile
JBG SMITH Properties, a real estate investment trust (REIT), owns, operates, invests in, and develops real estate assets in Washington, the United States. The company's assets consist of office, multifamily, and retail properties. As of December 31, 2017, its operating portfolio consisted of 69 operating assets comprising 51 office assets, 14 multifamily assets, and 4 other assets.
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