St Joe Stock Price, News & Analysis

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.

The St. Joe Company (NYSE: JOE) has announced the opening of a new Starbucks at Watersound Town Center, an open-air lifestyle center in Inlet Beach, Florida. The center, located at the entrance of the Watersound Origins community, is attracting national brands and increasing consumer traffic.

Joining Starbucks, J. McLaughlin, a national clothing brand, is set to open this year. Recent openings include Halo Salon and Blowout Bar, Legacy Dental Studio, and Electric Cart Watersound. The second phase of Watersound Executive Suites is now complete and fully leased.

Watersound Town Center currently offers nearly 156,000 square feet of leasable space, with plans to expand to approximately 400,000 square feet. The adjacent Watersound Origins communities, with over 1,100 existing homes and plans for more than 5,000 homesites, provide a significant consumer base for the center.

Latitude Margaritaville Watersound, a master-planned community in Panama City Beach, Florida, has been named among the top 50 in the U.S. by RCLCO Real Estate Consulting. Developed by The St. Joe Company (NYSE: JOE) and Minto Communities USA, it offers a laid-back lifestyle for those 55 and better.

The community features resort-style amenities including a Town Square with amphitheater, restaurants, fitness center, and water activities. Home options range from 1,210 to 4,048 square feet, priced from the $300s to over $1.1 million for exclusive Intracoastal Waterway homes.

This recognition highlights the success of the Latitude Margaritaville brand in creating desirable communities based on fun, food, music, and escapism. The development continues to attract buyers seeking a vibrant, tropical-inspired lifestyle in Northwest Florida's Emerald Coast region.

The St. Joe Company (NYSE: JOE) has announced new homebuilder relationships with Holiday Builders and Harris Doyle Homes, expanding its builder program to 19 builders across 16 active communities in Northwest Florida. Holiday Builders has contracted to purchase homesites in the Salt Creek at Mexico Beach community, while Harris Doyle Homes will become the fourth builder in the Breakfast Point East community in Panama City Beach.

These additions diversify St. Joe's new home offerings, with prices ranging from the low $300,000's to over $3 million. Both builders plan to have new homes ready for sale by 2025, demonstrating continued builder interest and demand for homesites in the region as Northwest Florida attracts full-time residents from across the country.