Bank of New York Mellon Corp Boosts Holdings in JBG SMITH Properties (JBGS)
Bank of New York Mellon Corp grew its stake in shares of JBG SMITH Properties (NYSE:JBGS) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,177,131 shares of the company’s stock after acquiring an additional 46,385 shares during the period. Bank of New York Mellon Corp’s holdings in JBG SMITH Properties were worth $42,930,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of JBGS. US Bancorp DE lifted its holdings in shares of JBG SMITH Properties by 129.9% during the second quarter. US Bancorp DE now owns 3,058 shares of the company’s stock worth $112,000 after purchasing an additional 1,728 shares during the period. Gideon Capital Advisors Inc. acquired a new position in shares of JBG SMITH Properties during the second quarter worth $221,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of JBG SMITH Properties during the second quarter worth $238,000. Vident Investment Advisory LLC acquired a new position in shares of JBG SMITH Properties during the second quarter worth $247,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of JBG SMITH Properties during the second quarter worth $262,000. Institutional investors own 75.62% of the company’s stock.
JBGS has been the topic of a number of recent research reports. ValuEngine upgraded shares of JBG SMITH Properties from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Stifel Nicolaus upgraded shares of JBG SMITH Properties from a “sell” rating to a “hold” rating and lifted their price target for the stock from $34.00 to $37.00 in a report on Monday, October 22nd. Finally, Zacks Investment Research lowered shares of JBG SMITH Properties from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, November 9th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.24%.
In other news, Director Charles E. Haldeman bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average price of $38.45 per share, for a total transaction of $576,750.00. Following the completion of the acquisition, the director now directly owns 35,000 shares in the company, valued at $1,345,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CIO James Lee Iker sold 23,837 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $37.54, for a total transaction of $894,840.98. The disclosure for this sale can be found here. 13.33% of the stock is currently owned by insiders.
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About JBG SMITH Properties
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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