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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, asset management and operating company. The company’s real estate assets and operations are concentrated primarily between Tallahassee and Destin, Florida, which it primarily uses, or intends to use, for or in connection with, its various residential or commercial real estate developments, resorts and leisure operations, leasing operations or its forestry operations on a limited basis. Segments The company operates its business in five reportable segments: Residential Real Estate, Commercial Real Estate, Resorts and Leisure, Leasing Operations and Forestry. Residential Real Estate segment This segment plans and develops mixed-use resort, primary and seasonal residential communities of various sizes on existing land. The company owns land in Northwest Florida near the Gulf of Mexico and other waterfront properties concentrated 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 were built in a region of Florida that has historically attracted second-home buyers. The company’s second type of residential communities serves the primary home market. These communities are for buyers who intend to use the community primarily for their main residence. The company’s Watersound Origins, Breakfast Point and SouthWood communities are its major projects in this category. Commercial Real Estate segment This segment plans, develops, manages and sells real estate, including commercial operating properties. The company provides development opportunities for national, regional and local retailers and other 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 developments. Its commercial real estate also includes industrial parks and various commerce parks. The company has land holdings surrounding the Northwest Florida Beaches International Airport, the Port of Port St. Joe, along roadways and near or within business districts in the region. Adjacent to the Northwest Florida Beaches International Airport is one of the company’s industrial parks, VentureCrossings, a commercial and industrial development. The company is soliciting global office, retail and industrial users for this prime development location. Resorts and Leisure segment This segment includes the company’s resort and leisure businesses, and its leasing operations. WaterColor Inn and Vacation Rentals: The company’s WaterColor Inn and Resort is a boutique hotel, which provides guests with access to a beach club, spa, tennis center, restaurant, and retail and commercial space. In addition, its vacation rental business rents private homes in the WaterColor, WaterSound Beach and surrounding communities, to individuals who are vacationing in the area. Its resorts and leisure businesses are managed for the company by a third party management company. Clubs and Resorts: The company owns four golf courses in Northwest Florida. Three of them are in the Panama City Beach area and the fourth is located in Tallahassee. The golf courses are situated in or near its residential communities. The company also owns and operates two marinas. Its golf courses and marinas are managed for the company by a third party management company. St. Joe Club & Resorts: St. Joe Club & Resorts is the company’s private membership club that provides amenities to its members and resort guests. In addition, St. Joe Club & Resorts manages The Pearl Hotel, a boutique resort hotel in Northwest, Florida. Leasing Operations segment This segment’s leasing operations includes the company’s retail and commercial leasing. It owns and manages various small retail shopping centers located in or very near to some of its residential projects, such as the WaterColor, WaterSound Beach, SouthWood and WindMark Beach communi

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Valuation JOE Industry Range
Price/Earnings 100.0x
Price/Sales 13.9x
Price/Book 2.1x
Price/Cash Flow 70.1x
TEV/Sales 9.6x
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