Welcome to our dedicated page for St. Joe Company news (Ticker: JOE), a resource for investors and traders seeking the latest updates and insights on St. Joe Company stock.
The St. Joe Company (symbol: JOE) is a prominent Florida-based real estate developer and manager, holding extensive land assets primarily in Northwest Florida. With significant residential and commercial land-use entitlements, St. Joe Company is pivotal in shaping the future of this region.
The company's operations are segmented into three key areas:
- Residential: This segment focuses on planning and developing residential communities, selling homesites to homebuilders and retail consumers. St. Joe's developments cater to those looking to live, work, and play near the region's stunning white sand beaches.
- Hospitality: Featuring a private membership club (the Watersound Club), this segment encompasses hotel operations, food and beverage services, golf courses, beach clubs, retail outlets, gulf-front vacation rentals, management services, marinas, and other entertainment assets.
- Commercial: This segment includes leasing commercial properties, multi-family and senior living facilities, self-storage, and other assets. It also oversees the planning, development, entitlement, management, and sale of commercial and rural land holdings.
In addition to real estate development, St. Joe Company manages timber operations on thousands of acres and offers certain rural acreage for sale. The company's strategic vision for Northwest Florida aims to create long-term value for shareholders by driving regional economic growth through commercial and industrial developments.
Recent Achievements: The St. Joe Company has made notable strides in enhancing its portfolio and expanding its influence in the real estate market. Recent projects and partnerships reflect a commitment to growth and innovation, further solidifying its role in the region's development.
Financially, St. Joe Company maintains a robust and stable condition, leveraging its vast real estate assets and diversified operations to generate consistent revenue streams. The company's dedication to sustainable development and community building positions it as a key player in Florida's economic landscape.
Overall, The St. Joe Company’s combination of strategic land management, diversified operational segments, and a vision for sustainable growth makes it a cornerstone of Northwest Florida’s development.
The St. Joe Company (NYSE: JOE) is expanding its diverse portfolio in Northwest Florida, nearing 1 million square feet of leasable space with ongoing projects. Currently, about 906,000 square feet is leased, with nearly 100% rent collections in Q2 2021. Key tenants include Starbucks and Publix. The company is constructing a self-storage facility and a mixed-use building at Watersound Town Center, which is expected to enhance ecosystem synergy among commercial and residential developments. St. Joe aims to diversify its asset types, fostering long-term growth.
The St. Joe Company (NYSE: JOE) has published the summer/fall issue of its member magazine, Watersound Lifestyle. This biannual publication highlights club amenities, showcases community stories, and features the ongoing expansion of Watersound Club. Readers can meet a professional golfer associated with the club and learn about the progress of two regional marinas nearing completion. The magazine emphasizes St. Joe's commitment to development and asset management within Northwest Florida.
The St. Joe Company (NYSE: JOE) reported a 100% increase in revenue for Q2 2021, reaching $72.2 million, up from $36.1 million in Q2 2020. Key drivers included 133% growth in real estate revenue, 95% in hospitality, and 31% in leasing. Net income rose by 26% to $24.2 million, or $0.41 per share. The company declared a $0.08 per share cash dividend, payable on September 10, 2021. Total cash and investments stood at $143.6 million as of June 30, 2021.
The St. Joe Company (NYSE: JOE) has announced plans to build a Home2 Suites by Hilton hotel in Santa Rosa Beach, Florida. The four-story hotel will feature 107 guest rooms, including one-bedroom suites, and amenities such as a pool, fitness center, and outdoor lounge. Located near Scenic Highway 30A and Topsail Hill Preserve State Park, the hotel aims to attract visitors to the area. The company plans to break ground later in 2021, with construction expected to complete in 2023. This project will expand St. Joe's hotel portfolio to 1,170 rooms.
The St. Joe Company (NYSE: JOE) has released a video showcasing the progress on various development projects. Filmed around June 30, 2021, the video highlights ongoing construction and development activities. St. Joe, which operates primarily in Northwest Florida, focuses on residential, hospitality, and commercial real estate ventures. The company maintains a robust portfolio with significant land-use entitlements and is actively pursuing higher and better uses for its assets. For more details, viewers can check the company's video gallery.
The St. Joe Company (NYSE: JOE), in partnership with Watermark Retirement Communities and BRW Origins, LLC, has announced a joint venture to develop Watersound Fountains, a luxury independent living community. Located near Scenic Highway 30A, this four-story facility will feature 148 apartments and amenities such as a spa, wellness center, and dining venues. The community aims to enhance seniors' quality of life with various social and recreational programs. Construction is underway, with the goal of welcoming residents in 2023.
The St. Joe Company (NYSE: JOE) has successfully sold all 38 homesites in its second sales release at the Watersound Camp Creek community, averaging approximately $478,000 each. These homesites received offers within 48 hours, contributing to over $28 million in sales since the community's launch. This gated community, which features various upcoming amenities, is planned for a total of 262 homesites. St. Joe anticipates future homesite releases later this year, driven by strong demand.
The St. Joe Company (NYSE: JOE) reported significant progress in its workforce housing communities in Bay County, Florida, with additional homesite sales and new home builders. Since breaking ground in 2019, the communities of College Station, Titus Park, and Park Place have seen high demand, welcoming residents since 2020. St. Joe has developed and sold 239 homesites, with another 166 under contract. They plan a multi-phase development for nearly 2,000 homesites across over 700 acres, emphasizing continued interest from builders and buyers amid ongoing regional growth.
The St. Joe Company (NYSE: JOE) and HomeCorp have launched a joint venture to form a new apartment management company. This venture will manage existing properties, including Watersound Origins Crossings and Pier Park Crossings, and additional projects in the pipeline. With a current portfolio of 1,117 units, 432 of which are leased, the partnership aims to enhance management and revenue capabilities. The company plans to further develop apartment communities, leveraging HomeCorp's expertise while it focuses on vertical integration for recurring revenue.
The St. Joe Company (NYSE: JOE) has launched Watersound Closings & Escrow, providing title services in Northwest Florida to cater to the expanding real estate market. With operations in Panama City Beach and Santa Rosa Beach, the new venture aims to capitalize on local growth by partnering with realtors, lenders, and developers. This initiative follows the company's earlier venture, Watersound Insurance Agency, reinforcing its strategy for recurring revenue streams. St. Joe's management highlights successful early transactions and anticipates further growth in the region.
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