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Overview of St. Joe Co (JOE)
St. Joe Co is a Florida-based real estate development and management firm with an extensive portfolio that spans residential, hospitality, and commercial segments in northwest Florida. The company is deeply integrated into the region's growth trajectory, leveraging its significant land holdings, natural assets, and strategic planning expertise to create long‑term value through the development of resort and residential communities, commercial projects, and diverse lifestyle destinations. Keywords such as real estate development, asset management, and entitlement planning highlight the company's approach to harnessing the economic potential of northwest Florida.
Residential Segment
The Residential segment of St. Joe Co is dedicated to planning and developing high‑quality communities, with an emphasis on sustainable, mixed‑use environments that cater to those seeking to live, work, and play near Florida's renowned white sand beaches. By selling homesites to both retail consumers and homebuilders, the company delivers value through well‑designed communities that integrate essential living amenities with a lifestyle focused on leisure and connectivity.
Hospitality and Leisure
The Hospitality segment showcases the company's commitment to creating dynamic leisure and resort experiences. Operating a blend of private membership clubs, hotels, food and beverage services, golf courses, beach clubs, marinas, and various retail outlets, St. Joe Co delivers a well‑rounded hospitality portfolio. This integrated approach not only maximizes revenue from diversified streams but also enhances the allure of its resort communities by offering residents and visitors a rich array of recreational and entertainment options.
Commercial and Land Utilization
In its Commercial segment, St. Joe Co focuses on the development, leasing, and management of commercial properties, multi‑family dwellings, senior living accommodations, and self‑storage facilities. Additionally, the company oversees extensive planning, entitlement, and sale of commercial and rural land holdings. These efforts are designed to stimulate local economic growth, generate jobs, and support community development, solidifying its role as a pivotal player in the regional real estate market.
Integrated Asset Management
Beyond its development activities, St. Joe Co manages a diverse range of natural and tangible assets. The company conducts timber operations on thousands of acres and offers rural acreage for sale, adding another dimension to its asset management strategy. This diversified approach ensures that the company optimally leverages the various revenue potentials embedded in its extensive land portfolio.
Market Position and Value Proposition
St. Joe Co is uniquely positioned within northwest Florida due to its long‑term strategic vision and deep understanding of local market dynamics. The company not only addresses the immediate needs of residential and commercial development but also fosters broader economic growth by creating vibrant, multi‑purpose communities. Its operations, underpinned by rigorous planning, entitlement expertise, and a commitment to quality, reflect its comprehensive approach to real estate and asset management, ensuring that the intrinsic value of its land and natural assets is realized over time.
Operational Excellence and Regional Impact
With a focus on operational excellence and sustainable development, St. Joe Co continuously refines its methodology to address evolving market demands. The company invests in projects that enhance the quality of life for local residents while also bolstering the region's economic infrastructure. Its integration of hospitality, residential, and commercial developments provides a balanced portfolio that supports the multifaceted growth of northwest Florida, reinforcing its status as a cornerstone in the local real estate market.
Conclusion
In summary, St. Joe Co (JOE) stands out as a comprehensive real estate developer and asset management company with a multi‑sector, integrated approach. Its extensive land assets, combined with its diversified operations in residential, hospitality, and commercial developments, underline the company's commitment to fostering long‑term value and regional economic growth. Through its strategic use of natural resources and deep market insights, St. Joe Co continues to shape the landscape of northwest Florida, offering a rich variety of lifestyle and economic opportunities.
The St. Joe Company (NYSE: JOE) reports significant growth in its Walton County residential communities, coinciding with the county's educational achievements. The Walton County School District has been ranked No. 1 in education across Florida by the Florida Policy Institute's 2025 Child Well-Being Index and No. 2 in high school graduation rate according to the Florida Department of Education.
Since 2017, the district has improved from 35th to 3rd place in state academic testing and increased graduation rates by over 20%. St. Joe's three major communities in Walton County - Watersound Origins, Watersound Origins West, and Watersound Camp Creek - have expanded to include over 1,000 completed homes and 3,500 homesites in various development stages as of December 31, 2024.
The company maintains a strong partnership with the Walton County School District, exemplified by their 2019 collaboration on the Magnet Innovation Center, a STEAM high school facility.
The St. Joe Company (NYSE: JOE) announces that its Hotel Indigo Panama City Marina has received the prestigious 'IHG Newcomer of the Year' award from IHG Hotels & Resorts. The 124-room hotel, which opened in June 2023, achieved the highest occupancy percentage among all St. Joe hotels in 2024.
The five-story waterfront property features two restaurants: Tarpon's, offering Southern coastal cuisine, and Steam on 5, a rooftop venue with bay views. The hotel's success is attributed to its strategic location in downtown Panama City's year-round business district, contributing to consistent occupancy rates regardless of seasonal fluctuations.
The property is part of St. Joe's 12-hotel portfolio and is managed by Ethan Register, who also oversees the company's Harrison's Kitchen and Bar. The award recognizes excellence in guest experience and operational standards among IHG's network of over 6,000 hotels globally.
The St. Joe Company (NYSE: JOE) announces a historic first-ever nonstop flight service between Northwest Florida Beaches International Airport (ECP) and New York's LaGuardia Airport (LGA). Delta Air Lines will operate this seasonal service starting June 14, 2025, running through Labor Day with weekly Saturday flights and daily service during the Fourth of July holiday period (June 28-July 6, 2025).
The announcement follows ECP's record-breaking 2024 performance, with over 1.8 million passengers, marking a 13% increase from 2023. The new route aims to enhance connectivity between the Northeast and Northwest Florida, potentially benefiting St. Joe's portfolio of 12 hotels and resorts, including luxury properties like The Pearl Hotel and Camp Creek Inn.
The St. Joe Company (NYSE: JOE) has announced the opening of its newest Watersound Club golf course, 'The Third,' designed by Love Golf Design Founders Davis Love III and Mark Love, along with Lead Architect Scot Sherman. Opening March 20, this 18-hole course represents the third golf course in the Watersound Club collection, located north of Shark's Tooth golf course.
The expansion responds to growing membership demand, adding to the club's existing 54 holes of championship golf. Recent additions to the club include the Watersound Camp Creek amenities featuring a wellness center, tennis and pickleball courts, pool complex, dining venues, and the Watersound Club Sporting Preserve. The Third is designed to complement existing courses while offering varied difficulty levels through strategic tee placement and green designs.
The St. Joe Company (NYSE: JOE) reported strong Q4 2024 results with notable growth across all segments. Q4 net income increased 43% to $18.9 million, while quarterly revenue grew 20% to $104.3 million.
Key Q4 highlights include:
- Real estate revenue up 23% to $46.5 million with record 331 homesite closings
- Hospitality revenue increased 19% to $42.2 million
- Leasing revenue rose 15% to $15.6 million with 95% occupancy rate
For full-year 2024:
- Total revenue reached $402.7 million, up 3% from 2023
- Record hospitality revenue of $199.2 million, up 31%
- Record leasing revenue of $60.3 million, up 19%
- The company maintained strong liquidity with $88.8 million in cash
The Board declared a quarterly dividend of $0.14 per share and increased stock repurchase authority to $100 million.
The St. Joe Company (NYSE: JOE) has launched a boutique real estate brokerage focused on home sales along Northwest Florida's gulf coast. The company appointed Diane Hausler as Senior Vice President to manage the brokerage's operations. Hausler brings over 22 years of real estate experience, previously serving as a sales executive at The Ebby Halliday Companies, where she led a team of up to 150 agents and contributed to $8.2 billion in total sales volume in 2023.
The brokerage plans to open its first office in St. Joe's WaterColor Town Center in spring, with plans for future expansion. This initiative aligns with St. Joe's strategy of growing 'asset-light' businesses, such as Watersound Insurance Agency and Watersound Title Agency, aiming to generate recurring revenue streams from residential community investments.
The St. Joe Company (NYSE: JOE) has released the fall/winter issue of Watersound Lifestyle, a biannual magazine for Watersound Club members. The publication showcases club amenities and community stories, featuring content about 'The Third', the newest Watersound Club golf course. The magazine also covers annual member traditions and documents the recent rapid expansion of club amenities. The issue is available in both print and digital formats.
Latitude Margaritaville Watersound, a joint venture between Minto Communities USA, The St. Joe Company (NYSE: JOE), and Margaritaville Holdings, has reached its 2,000th home sale since opening in May 2021. Located on Florida's Emerald Coast, the 55+ active adult community plans approximately 3,500 homes in its first phase.
The development features extensive amenities including the Latitude Town Square with an amphitheater, Paradise Pool, Fins Up! Fitness Center, and various recreational facilities. Home prices start from the $300s, with floor plans ranging from 1,210 to 4,048 square feet. The community is part of St. Joe's Bay-Walton Sector Plan, spanning 110,500 acres with 15 miles of Intracoastal Waterway frontage.
The St. Joe Company (NYSE: JOE) has achieved Great Place To Work® Certification™, joining renowned companies like Trek, Hulu, and Hilton. With over 1,000 team members from 18 countries, St. Joe received higher employee satisfaction ratings compared to typical U.S. companies. The certification, based solely on employee feedback, highlights the company's successful 'think like an owner' culture and commitment to employee experience.
Research shows certified workplaces offer 4.5 times better leadership experiences, with employees being 93% more likely to enjoy work and twice as likely to receive fair pay and promotion opportunities. The company's Talent, Leadership and Culture team, recently recognized in the 2024 OnCon Icon Awards Top 50, emphasizes creating an empowering work environment.
The St. Joe Company (NYSE: JOE) reported Q3 2024 results with mixed performance across segments. Hospitality revenue increased 17% to $55.4 million, with improved gross margin of 34.1%. Leasing revenue grew 19% to $15.6 million, with 96% occupancy rate. However, real estate revenue decreased 32% to $28.0 million. Total revenue declined 2% to $99.0 million, while net income decreased 13% to $16.8 million. The company declared a quarterly dividend of $0.14 per share, payable December 6, 2024. The company maintains 1,381 residential homesites under contract, expected to generate approximately $122.3 million in future revenue.
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