JBGS•JBG SMITH said Q3 Core FFO rose year over year as occupancy increased and real estate taxes fell. Annualized net operating income rose to $256.4 million from $249.3 million in the prior quarter.
The mixed-use property owner attributed higher annualized net operating income to increased occupancy in its multifamily and commercial portfolios and lower real estate tax expenses. Effective rents for new multifamily leases fell 9.6%, while renewal rents rose 2.7%. Q3 adjusted FFO was $12.7 million, or $0.22 per share, and FFO was $10.4 million. The company repurchased and retired 1.0 million shares for $11.5 million through October 30, 2026.
