ST JOE Co

The St. Joe Company (NYSE: JOE) operates as a diversified real estate development, asset management and operating company focused on Northwest Florida. The company website is www.joe.com.

St. Joe owns approximately 165,000 acres of land in Northwest Florida, with roughly 87 percent located in Bay, Gulf and Walton counties and 90 percent situated within fifteen miles of the Gulf of America. The company holds entitlements to develop over 170,000 residential dwelling units, more than 22 million square feet of retail, commercial and industrial space and over 3,000 hotel rooms within the Bay-Walton Sector Plan, along with additional development rights outside this plan.

The company operates through three reportable segments. The residential segment develops and sells homesites across multiple communities primarily to homebuilders, with homes also being constructed and sold through an unconsolidated joint venture in the Latitude Margaritaville Watersound active adult community. The hospitality segment includes the exclusive Watersound Club offering golf courses and beach club access, a portfolio of branded and boutique hotels, food and beverage operations, retail outlets, gulf-front vacation rentals and marinas. The commercial segment owns, develops and leases properties for multi-family, senior living, self-storage, mixed-use, medical, office, retail and industrial uses, while also managing timber holdings and operating real estate brokerage, title insurance and insurance agency businesses.

St. Joe employs 906 full-time employees and 225 part-time and seasonal employees. The company maintains a strategic focus on developing long-term, scalable residential communities, growing hospitality offerings and expanding its portfolio of income-producing commercial properties. The company operates with low fixed expenses, low corporate debt and high liquidity. St. Joe has reinitiated its dividend program since 2020 with annual increases and maintains an active stock repurchase program. The company also operates through unconsolidated joint ventures in hotels, senior living, multi-family management and other ventures, with the Latitude Margaritaville Watersound joint venture representing a significant portion of pre-tax income.