JOE Stock Recent News

PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) (“St. Joe”) concluded its 2024 Annual Meeting of Shareholders and released a video featuring many of its residential, commercial and hospitality assets in Northwest Florida. The video was shown at the meeting on May 14, 2024, in Inlet Beach, Florida as a preview of a two-day market tour that followed the meeting. During the tour shareholders had the opportunity to visit many of the assets featured in the video. “We encour.

St. Joe Company is a real estate developer focused on the northwest Florida region, particularly Panama City. JOE owns a variety of properties including residential, hospitality, and business services, and has entitlements to develop more. The company's growth has been impressive in recent years, but it is exposed to risks such as regional market fluctuations and climate-related events.

On July 28, 2023, Bruce Berkowitz (Trades, Portfolio), the founder and Managing Member of the Fairholme Fund (Trades, Portfolio), reduced his stake in The St. Joe Co ( JOE , Financial), a prominent real estate development and asset management company. This article will delve into the details of the transaction, provide an overview of Berkowitz's investment philosophy, and analyze the performance of The St. Joe Co's stock.

Delays in homesite and home deliveries from supply chain disruptions have increased construction costs. Net income attributable to the Company in the reporting period was down 18 percent.

The St. Joe Company has benefited from the exodus out of the Northeast and places like Chicago since the pandemic, given its large land holdings in Florida. However, the shares have lost a third of their value as the housing market has cooled substantially as mortgage rates have spiked.

St. Joe's quarterly revenue looked concerning on the surface, but a closer look reveals the company continues to grow quickly.

St. Joe's all-of-the-above approach to building seems to be paying off.