Last $17.94 USD
Change Today +0.04 / 0.22%
Volume 1.2M
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As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

133 South WaterSound Parkway

WaterSound, FL 32413

United States

Phone: 850-231-6400

Fax:

The St. Joe Company operates as a real estate development and operating company in Florida. As of December 31, 2013, the company owned land, timber and resort, leisure and leasing assets concentrated primarily between Tallahassee and Destin, Florida. The company has residential and commercial land-use entitlements in hand or in process. Segments The company operates through five segments: Residential Real Estate; Commercial Real Estate; Rural Land; Resorts, Leisure and Leasing Operations; and Forestry. Residential Real Estate segment This segment plans and develops mixed-use resort, primary and seasonal residential communities of various sizes, primarily on the company’s existing land. The company owns land in Northwest Florida, including Gulf of Mexico beach frontage, and other waterfront properties concentrated primarily between Tallahassee and Destin, Florida. Within the company’s residential real estate business, it has two types of communities. The first, its residential resort communities, are positioned to attract primarily second home buyers. The company’s projects in this category include the WaterColor and WaterSound Beach communities, which are built in a region of Florida. The company’s second type of residential communities is its primary home communities, which are for buyers who tend to use the community for their primary residence. The company’s WaterSound, Breakfast Point, SouthWood, and RiverTown communities are its major projects in this category. Seasonality: Historically, this segment’s business revenues have been higher in the second and third quarters (year ending December 2013) than the first and fourth quarters due to increased customer traffic and sales, however, the company has begun to see a shift away from seasonality as the company sells various lots directly to homebuilders. Commercial Real Estate segment This segment plans, develops, manages, and sells real estate, including commercial operating property, for commercial purposes. The company focuses on commercial development and sales in Northwest Florida because of its primary land holdings surrounding the Northwest Florida Beaches International Airport, along roadways and near or within business districts in the region. The company provides development opportunities for national and super regional retailers and its strategic partners in Northwest Florida. It offers land for commercial and light industrial uses. The company also develops commercial parcels within or near existing residential development projects. The company’s commercial real estate includes industrial parks and various commerce parks. One of the industrial parks is its VentureCrossings Enterprise Centre, a commercial and industrial development adjacent to the Airport. The company is soliciting global office, retail, and industrial users for this prime development location and completed construction and commenced recognizing rent on a 105,000 square foot building leased by Exelis Inc. The operations of commercial properties are managed and reported in the company’s Resorts, Leisure and Operation's segment, and the sale of commercial operating property is managed and reported in its Commercial Real Estate segment. In 2013, the company’s Commercial Real Estate segment capitalized on the sale of certain commercial operating properties, including two built-to-suit properties. Rural Land segment This segment’s majority of rural land sold is undeveloped timberland and is managed as timberland until sold, although some parcels include the benefits of limited development activity, including improved roads, ponds, and fencing. Resorts, Leisure and Leasing Operations segment This segment includes the company’s resort and leisure businesses, and leasing operations. Resort and Leisure Business WaterColor Inn and Vacation Rentals: The company’s WaterColor Inn and Resort is a boutique hotel, which provides guests with a beach club, spa, tennis center, a restaurant and complementary retail and commercial space. In addition, its vacation rental business rents private homes in the WaterColor, WaterSound Beach and surrounding communities

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JOE

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Valuation JOE Industry Range
Price/Earnings 4.0x
Price/Sales 2.3x
Price/Book 1.7x
Price/Cash Flow 3.9x
TEV/Sales 1.9x
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