Company profile

Jorge Luis Gonzalez
Incorporated in
Fiscal year end
Former names
ST Joe Corp, ST Joe Paper Co
IRS number

JOE stock data



29 Apr 20
9 Jul 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 18.57M 42.66M 32.86M 35.55M
Net income -1.34M 8.63M 5.83M 10.23M
Diluted EPS -0.03 0.15 0.1 0.17
Net profit margin -7.19% 20.22% 17.73% 28.77%
Operating income -1.33M 15.2M 7.42M 10.87M
Net change in cash -79.29M 20.41M -30.28M 4.77M
Cash on hand 106.43M 185.72M 165.31M 195.59M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 127.09M 110.28M 100.04M 96.86M
Net income 26.66M 31.6M 59.24M 15.46M
Diluted EPS 0.45 0.52 0.84 0.21
Net profit margin 20.98% 28.66% 59.21% 15.96%
Operating income 31.32M 29.4M 3.58M 3.08M
Net change in cash -9.44M 3.07M -49.03M 28.34M
Cash on hand 185.72M 195.16M 192.08M 241.11M
Cost of revenue 64.09M 51.32M 67.19M 62.19M

Financial data from ST Joe earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
16 Mar 20 Bakun Marek Common Stock Buy Aquire P No 17.9 1,100 19.69K 5,724
13 Mar 20 Gonzalez Jorge Luis Common Stock Buy Aquire P No 17.2 1,400 24.08K 21,080
13 Mar 20 WALTERS Elizabeth J Common Stock Buy Aquire P No 17.348 1,425 24.72K 2,863
28 Aug 19 Bruce R Berkowitz Common Stock Other Dispose J No 0 78,481 0 22,556,291
28 Aug 19 Bruce R Berkowitz Common Stock Other Dispose J No 0 522,663 0 22,634,772
8 Aug 19 Gonzalez Jorge Luis Common Stock Buy Aquire P No 17.34 1,430 24.8K 19,680
98.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 127 126 +0.8%
Opened positions 17 32 -46.9%
Closed positions 16 9 +77.8%
Increased positions 38 37 +2.7%
Reduced positions 43 32 +34.4%
13F shares
Current Prev Q Change
Total value 1.89B 2.32B -18.6%
Total shares 58.04M 59.65M -2.7%
Total puts 19.4K 43.8K -55.7%
Total calls 43.6K 114.8K -62.0%
Total put/call ratio 0.4 0.4 +16.6%
Largest owners
Shares Value Change
Fairholme Capital Management 26.51M $444.91M +0.7%
N Price T Rowe Associates 7.1M $119.11M -0.4%
Vanguard 5.14M $86.22M -2.3%
BLK BlackRock 4.72M $79.23M -6.8%
Dimensional Fund Advisors 1.72M $28.82M -0.1%
GBL Gamco Investors, Inc. Et Al 1.44M $24.09M +1.8%
Gabelli Funds 1.12M $18.83M -1.5%
STT State Street 1.02M $17.06M +0.5%
IVZ Invesco 774.04K $12.99M +435.2%
NTRS Northern Trust 753.5K $12.64M -0.2%
Largest transactions
Shares Bought/sold Change
Brandes Investment Partners 352.21K -1.33M -79.1%
IVZ Invesco 774.04K +629.42K +435.2%
Norges Bank 0 -404.29K EXIT
BLK BlackRock 4.72M -345.44K -6.8%
Plaisance Capital 333.77K +333.77K NEW
Fairholme Capital Management 26.51M +196.35K +0.7%
Renaissance Technologies 353.6K -195.9K -35.7%
GMT Capital 196.37K +166.2K +550.8%
Charles Schwab Investment Management 203.62K -140.87K -40.9%
Vanguard 5.14M -119.31K -2.3%

Financial report summary

  • We may not be able to successfully implement our business strategy, which would adversely affect our financial condition, results of operations, cash flows and financial performance.
  • Our investments in new business opportunities are inherently risky and may disrupt our ongoing business and adversely affect our operations.
  • Management has discretion as to the investments we make and may not use these funds effectively.
  • We intend to invest our assets in ways such that we will not have to register as an investment company under the Investment Company Act of 1940. As a result, we may be unable to make some potentially profitable investments.
  • If Fairholme controls us within the meaning of the Investment Company Act, we may be unable to engage in transactions with potential strategic partners, which may adversely affect our business.
  • If the SEC were to disagree with our Investment Company Act determinations, our business may be adversely affected.
  • Returns on our investments may be limited by our investment guidelines and restrictions.
  • We face risks stemming from our strategic partnerships.
  • Losses in the fair value of Securities, and the concentration of our investment portfolio in any particular issuer, industry, group of related industries or geographic sector, may have an adverse impact on our results of operations, cash flows and financial condition. In addition, our equity investments may fail to appreciate and may decline in value or become worthless.
  • We face risks associated with short-term liquid investments.
  • The loss of the services of our key management, personnel or our ability to recruit staff may adversely affect our business.
  • Our results of operations may vary significantly from period to period, which may adversely impact our stock price, results of operations, cash flows and financial condition.
  • Our business is subject to extensive regulation and growth management initiatives that may restrict, make more costly or otherwise adversely impact our ability to develop our real estate investments or otherwise conduct our operations.
  • Our existing real estate investments are concentrated in Northwest Florida; therefore our long-term financial results are largely dependent on the economic growth of Northwest Florida.
  • Changes to the population growth rate or other unfavorable demographic changes in Florida, particularly Northwest Florida, may adversely affect our business.
  • Significant competition may have an adverse effect on our business.
  • Mortgage financing issues, including lack of supply of mortgage loans, tightened lending requirements and possible future increases in interest rates, may reduce demand for our products.
  • We have significant operations and properties in Northwest Florida that may be materially affected by natural disasters, manmade disasters, severe weather conditions or other significant disruptions.
  • Our insurance coverage on our properties may be inadequate to cover any losses we may incur.
  • Increases in property insurance premiums and decreases in availability of homeowner property insurance in Florida may reduce customer demand for homes and homesites in our developments.
  • A decline in consumers’ discretionary spending or a change in consumer preferences may reduce our sales and harm our business.
  • Downturns of the real estate market in Northwest Florida may adversely affect our operations.
  • Recent tax law changes may make home ownership more expensive or less attractive.
  • Our ability to attract homebuilder customers and their ability or willingness to satisfy their purchase commitments may be uncertain.
  • We are exposed to risks associated with real estate development that may adversely impact our results of operations, cash flows and financial condition.
  • Our leasing projects may not yield anticipated returns, which may harm our operating results, reduce cash flow, or the ability to sell commercial assets.
  • We face potential adverse effects from the loss of commercial tenants.
  • If labor costs increase or we fail to attract and retain qualified employees, our business, results of operations, cash flows and financial condition may be adversely affected.
  • We provide a guarantee of the debt for several of our JVs, and may in the future enter into similar agreements, which may have a material adverse effect on our results of operations, cash flows and financial condition.
  • Environmental and other regulations may have an adverse effect on our business.
  • From time to time, we may be subject to periodic litigation and other regulatory proceedings, which may impair our financial results of operations.
  • Limitations on the access to the airport runway at the Northwest Florida Beaches International Airport may have an adverse effect on the demand for our VentureCrossings land adjacent to the airport.
  • We face risks associated with third-party service providers, which may negatively impact our profitability.
  • The market price of our common stock has been, and may continue to be, highly volatile.
  • Our common stock has low trading volume.
  • Fairholme has the ability to influence major corporate decisions, including decisions that require the approval of stockholders, and its interest in our business may conflict with yours.
  • Changes in our income tax estimates may materially impact our results of operations, cash flows and financial condition.
  • Changes to U.S. federal and state income tax laws may materially affect us and our stockholders.
  • We may not be able to utilize our net state operating loss carryforwards.
  • We utilize derivative financial instruments to reduce our exposure to market risks from changes in interest rates on our variable rate indebtedness and we will be exposed to risks related to counterparty credit worthiness or non-performance of these instruments.
  • A decline in real estate values or continuing operating losses in our operating properties may result in impairments, which would have an adverse effect on our results of operations and financial condition.
  • Changes in accounting pronouncements may adversely affect our reported operating results, in addition to the reported financial performance of our tenants.
  • Failure to maintain the integrity of internal or customer data may result in faulty business decisions, damage of reputation and/or subject us to costs, fines or lawsuits.
  • Our business may be adversely impacted if we have deficiencies in our disclosure controls and procedures or internal control over financial reporting.
  • Uncertainty about the future of the London Interbank Offer Rate ("LIBOR") may adversely affect our business and financial results.
  • Our financing arrangements contain restrictions and limitations that could impact our ability to operate our business.
  • The obligations associated with being a public company require significant resources and management attention.
Management Discussion
  • Residential Real Estate Revenue and Gross Profit. During the three months ended March 31, 2020, total residential real estate revenue decreased $0.5 million, or 14.7% to $2.9 million, as compared to $3.4 million during the same period in 2019 while total residential real estate gross profit increased $0.2 million to $1.8 million (or gross margin of 62.1%), as compared to $1.6 million (or gross margin of 47.1%) during the same period in 2019. During the three months ended March 31, 2020, we sold 19 homesites compared to 31 homesites during the same period in 2019.
  • The number of homesites sold varied each period due to the timing of builder contractual closing obligations and the timing of development of completed homesites in our residential communities. The revenue and gross profit for each period was impacted by the volume of sales within each of the communities, the difference in pricing among the communities and the difference in the cost of the homesite development.
  • Commercial and Rural Real Estate Revenue and Gross Profit. During the three months ended March 31, 2020, we had five commercial and rural real estate sales totaling approximately 80 acres for $2.8 million, resulting in a gross profit margin of approximately 75.0%. During the three months ended March 31, 2019, we had five commercial and rural real estate sales totaling approximately 71 acres for $1.1 million, with de minimis cost of revenue resulting in a gross profit margin of approximately 100.0%. Revenue from commercial and rural real estate can vary significantly from period to period depending on the proximity to developed areas and mix of real estate sold in each period, with varying compositions of retail, office, industrial and other commercial uses.
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