JBG SMITH: Upside Hinges On Multifamily Development, Fed Rate Cuts

William_Potter Introduction JBG SMITH Properties (NYSE:JBGS) has marginally underperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering an almost 6% loss against the circa 2% total return in the benchmark ETF: JBGS vs VNQ in 2024 (Seeking Alpha) This is quite a decent performance for an office REIT and is largely the result of a changed focus on multifamily properties. I expect the shares to outperform going forward, largely due to: A debt-heavy capital structure that will benefi ...