JBGS JBG SMITH Properties

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2026: $148M, Q3 2025: $52M, Q2 2025: $67M, Q1 2025: $49M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $148M vs trailing avg $56M (+163%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-93M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 33,700,000 shares = 39.9% of 84,500,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $2M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 2359307.8x more than bought. 5 C-suite officers among sellers

• Regan-Levine Evan (Chief Strategy Officer) sold 500 shares on 2025-11-24
• Regan-Levine Evan (Chief Strategy Officer) sold 3,985 shares on 2025-11-24
• Regan-Levine Evan (Chief Strategy Officer) sold 5,200 shares on 2025-11-07
• MUSELES STEVEN A (Chief Legal Off. & Corp. Secy) sold 15,003 shares on 2025-10-30
• MUSELES STEVEN A (Chief Legal Off. & Corp. Secy) sold 16,253 shares on 2025-10-31
• Regan-Levine Evan (Chief Strategy Officer) sold 5,714 shares on 2025-09-15
• Xanders George Laucks (Chief Investment Officer) sold 2,750 shares on 2025-09-11
• Xanders George Laucks (Chief Investment Officer) sold 4,000 shares on 2025-09-12
• MUSELES STEVEN A (Chief Legal Off. & Corp. Secy) sold 1,295 shares on 2025-09-10
• Valdes Angela (Chief Accounting Officer) sold 4,775 shares on 2025-09-09