JBG史密斯地产 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended June30,2026OR JBG SMITH PROPERTIES________________________________________________________________________________ (Exact name of Registrant as specified in its charter) Registrant's telephone number, including area code:(240) 333-3600_______________________________ Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the Registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulations S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reportingcompany" and "emerging growth company" in Rule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act) Yes☐No☒ As of August 5, 2026, JBG SMITH Properties had 58,575,671 common shares outstanding and 16,042,777 Class B common shares JBG SMITH PROPERTIESQUARTERLY REPORT ON FORM10-QQUARTER ENDED JUNE30,2026 TABLE OF CONTENTS PART I – FINANCIAL INFORMATION Item 1.Financial StatementsPageCondensed Consolidated Balance Sheets (unaudited) as of June 30, 2026 andDecember31, 20253Condensed Consolidated Statements of Operations (unaudited) for the threeand six months ended June 30, 2026 and 20254Condensed Consolidated Statements of Comprehensive Loss (unaudited) forthe three and six months ended June 30, 2026 and 20255Condensed Consolidated Statements of Equity (unaudited) for the three andsix months ended June 30, 2026 and 20256Condensed Consolidated Statements of Cash Flows (unaudited) for the sixmonths ended June 30, 2026 and 20258Notes to Condensed Consolidated Financial Statements (unaudited)10 Item 2.Management's Discussion and Analysis of Financial Condition andResults of Operations30Item 3.Quantitative and Qualitative Disclosures about Market Risk48Item 4.Controls and Procedures49 PART II – OTHER INFORMATION Item 1.Legal Proceedings50Item 1A.Risk Factors51Item 2.Unregistered Sales of Equity Securities and Use of Proceeds51Item 3.Defaults Upon Senior Securities51Item 4.Mine Safety Disclosures51Item 5.Other Information51Item 6.Exhibits52Signatures53 PARTI- FINANCIAL INFORMATION ITEM1. Financial Statements JBG SMITH PROPERTIESCondensed Consolidated Balance Sheets(Unaudited)(In thousands, except par value amounts) June30,2026December31,2025ASSETSReal estate, at cost:Land and improvements$987,802$1,019,967Buildings and improvements4,016,4013,973,514Construction in progress, including land111,275175,6735,115,4785,169,154Less: accumulated depreciation(1,478,008)(1,408,641)Real estate, net3,637,4703,760,513Cash and cash equivalents74,80375,270Restricted cash33,26428,020Tenant and other receivables25,14121,810Deferred rent receivable187,747182,891Investments in unconsolidated real estate ventures115,603105,711Deferred leasing costs, net63,24666,356Intangible assets, net11,49730,333Other assets, net112,064117,287TOTAL ASSETS$4,260,835$4,388,191 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS ANDEQUITY Liabilities:Mortgage loans, net$1,601,618$1,579,158Revolving credit facility210,000205,000Term loans, net718,832718,408Accounts payable and accrued expenses65,63084,748Other liabilities, net94,057131,945Total liabilities2,690,1372,719,259Commitments and contingenciesRedeemable noncontrolling interests492,712511,342Shareholders' equity:Preferred shares, $0.01 par value - 200,000 shares authorized; noneissued——Common shares, $0.01 par value - 470,000 shares authorized; 58,426and 59,527 shares issued and outstanding as of June30,2026 andDecember31,2025585596Class B common shares, $0.01 par value - 30,000 shares authorized;16,094 and 13,645 shares issued and outstanding as ofJune30,2026 and December31,2025161136Additional paid-in capital2,328,3052,338,881Accumulated deficit(1,268,511)(1,180,410)Accumulated other