St Joe Stock Price, News & Analysis

The St. Joe Company (NYSE: JOE) has released a video showcasing the progress on its development projects as of January 1, 2023. This video, available on their website, highlights ongoing construction and plans. The company specializes in real estate development and asset management in Northwest Florida, focusing on residential, hospitality, and commercial ventures. St. Joe holds significant land-use entitlements and seeks to enhance its real estate value through various development activities. The video serves as a transparent update for stakeholders and investors.

The St. Joe Company (NYSE: JOE) has officially kicked off construction for a new health care campus in Panama City Beach, Florida, in partnership with Florida State University (FSU) and Tallahassee Memorial HealthCare (TMH). The project will occupy 87 acres and includes an 80,000-square-foot medical office building, alongside a 100-bed hospital, expected to be completed by 2027. The facility aims to improve healthcare access for the growing population of the Florida Panhandle. As Florida faces significant healthcare provider shortages by 2030, this initiative is seen as vital for community health and educational opportunities for FSU students.

The St. Joe Company (NYSE: JOE) and Minto Communities USA announced the sale of the 1,000th home at Latitude Margaritaville Watersound in December 2022, just 19 months after opening in May 2021. The community will soon celebrate the grand opening of the Latitude Town Center, which will feature a multi-tiered amphitheater, restaurants, a fitness center, and other amenities. St. Joe plans a public marina and healthcare campus near the community, expanding opportunities for buyers. The initial phase of Watersound is expected to encompass approximately 3,500 homes.

The St. Joe Company (NYSE: JOE) has closed three significant real estate transactions, enhancing its hotel portfolio and retail presence. Notably, the company acquired The Pearl Hotel in Rosemary Beach, a luxury establishment, increasing its hotel holdings to three properties along Scenic Highway 30A. Additionally, St. Joe purchased a further 30% stake in Pier Park North, a 320,000 sq. ft. shopping center, raising ownership to 90%. The company anticipates opening five new hotels and two apartment communities in 2023, effectively more than doubling its hotel capacity to 1,117 rooms.

The St. Joe Company (NYSE: JOE) reported a 7% increase in third-quarter revenue to $57.6 million, driven by a 42% rise in leasing revenue and a 30% increase in hospitality revenue. However, net income decreased by 18% to $12.4 million due to a prior year one-time payment of $3.6 million. For the first nine months of 2022, revenue rose 14% to $190.7 million. The company announced a cash dividend of $0.10 per share, payable on December 9, 2022. Significant joint venture revenue contributions were noted, with unconsolidated ventures generating $106.9 million.

The St. Joe Company (NYSE: JOE) has shared a new video showcasing progress on its ongoing development projects as of October 1, 2022. This visual update highlights the company's efforts in real estate development, asset management, and operations predominantly in Northwest Florida. Forward-looking statements in the video address the anticipated plans for these projects, contingent on successful completion and market demand. For more details, visit www.joe.com.

The St. Joe Company (NYSE: JOE) has released the fall/winter issue of the "Watersound Lifestyle" magazine. This biannual publication highlights club amenities and community stories. Key features include upcoming high-profile golf tournaments at Watersound Club, the launch of the Point South Marina brand, and plans for a new golf course at the club. The magazine aims to enhance member engagement and provide golf tips from the Camp Creek Performance Center's director of instruction. It emphasizes St. Joe's focus on real estate development in Northwest Florida.

Watersound Town Center in Florida is expanding with new tenants, enhancing its appeal as a lifestyle destination. Ambrosia Prime Seafood & Steaks opened as the first restaurant, alongside medical offices such as Ascension Sacred Heart and Dermatology Specialists. Upcoming tenants include Publix Super Market and Capital City Bank, with further dining options like Seagrove Village Market and Marco’s Pizza on the horizon. The center prioritizes walkable designs and community spaces, making it a key development in the area.

The St. Joe Company (NYSE: JOE) and InterMountain Management, LLC have initiated construction on a new hotel in Panama City Beach, Florida. This joint venture will develop a 121-suite Residence Inn by Marriott in the Pier Park area, targeting both leisure and business travelers. The hotel will feature full kitchens, a conference room, pool, and fitness center. This marks the 12th hotel in St. Joe’s portfolio, adding to their operational capacity of 1,298 hotel rooms. Sitework has commenced with an expected completion date in 2024.