Stock fact sheet · data as of
JBG SMITH Properties (JBGS): fair value, margin of safety and Wheel Score
Ticker symbol JBGS · Real Estate · REIT - Diversified · United States · Speculative Income
Is JBGS undervalued?
JBGS closed at 12.29 on 5 Nov 2026, more than 30% above the GLS average fair value of 8.93. Only 0 of the 2 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the "below fair value" Wheel Trade Filter keeps names like this under 70.
Only 2 of the nine models produced a value (10 Cap, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files JBGS under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for JBGS
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 7.56 | -38% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 10.30 | -16% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -41.00 | -434% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 12.50 | +2% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - JBGS passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 2.1 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -3.8%, ROE -12.0%, ROA -3.2% - with debt at 2.20 times equity and a free-cash-flow yield of 3.5%. Debt of 2.20 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 5.70% (payout ratio -28%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Commercial 100% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | -3.8% |
|---|---|---|---|
| GLS Moat | 2.1 / 10 | ROE | -12.0% |
| Debt / equity | 2.20 | ROA | -3.2% |
| Free-cash-flow yield | 3.5% | Payout ratio | -28% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 29: Weak
JBGS scores 29 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (515 open interest, 463 a day); and filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades 38% above our fair value; and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - 31.4 years to repay its debt (over 6); and filter 8, big enough - market cap $720M (under $1.0B), and the parts are thin too - value weak, premium strong, moat weak, health fair, red flags fair, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 43% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 515 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 770k shares a day on a market cap of $720M, with a beta of 1.08; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (515 open interest, 463 a day) |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades 38% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 31.4 years to repay its debt (over 6) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $720M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 38% above fair value | |
| Premium | Strong | implied volatility 43% | |
| Moat | Weak | moat 2.1/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | Red Flags score 75/100 | |
| Option trading | Weak | 463 contracts a day, 515 open interest | |
| Stability | Fair | beta 1.08, $720M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for JBGS in the nightly calendar. The shares go ex-dividend on 12 Nov 2026 (0.1750 per share), so a covered call sold before then carries a small early-assignment risk around that date.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Diversified
The 12 companies below are the closest to JBG SMITH Properties by market cap within the REIT - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SAFE Safehold Inc. | 10.77 | 17.27 | +38% | 41Weak | $763M |
| CTO CTO Realty Growth, Inc. | 20.46 | 27.48 | +26% | 36Weak | $793M |
| AHRT AH Realty Trust, Inc. | 6.78 | 21.86 | +69% | 39Weak | $650M |
| ESRT Empire State Realty Trust, Inc. | 5.27 | 4.72 | -12% | 30Weak | $907M |
| GOOD Gladstone Commercial Corporation | 10.89 | 15.85 | +31% | 46Weak | $527M |
| GOODO Gladstone Commercial Corporation | 17.60 | 17.68 | +0% | 21No options | $527M |
| GOODN Gladstone Commercial Corp Pref | 19.18 | 18.11 | -6% | 21No options | $527M |
| CMRF CIM Real Estate Finance Trust, Inc. | 2.35 | 3.47 | +32% | 29No options | $1.0B |
| OLP One Liberty Properties, Inc. | 21.94 | 16.58 | -32% | 27Weak | $479M |
| FVR FrontView REIT, Inc. | 19.30 | 24.50 | +21% | 26No options | $472M |
| SCCE Sachem Capital Corp. 6.00% Note | 24.42 | 19.47 | -25% | 10No options | $1.1B |
| AAT American Assets Trust, Inc. | 22.09 | 18.10 | -22% | 34Weak | $1.4B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about JBGS
Is JBGS undervalued right now?
No: at 12.29 the stock trades 38% above the GLS average fair value of 8.93 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of JBGS and what does it mean?
JBGS scores 29 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 3, 4, 5, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for JBGS?
8.93 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does JBG SMITH Properties report earnings next?
No upcoming earnings date is recorded for JBGS in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does JBGS have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 515 open interest across all expiries and implied volatility of 43% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.