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And a huge mistake on my part.

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News: $JOE The St. Joe Company and HomeCorp Announce the Construction of an Additional 120 Apartment Homes at Pier Park Crossings in Panama City Beach, Florida

The St. Joe Company (NYSE: JOE) (“St. Joe”) and HomeCorp announce the construction of an additional 120 apartment homes at Pier Park Crossings in Panama City Beach, Florida. These apartment homes are currently under construction and once complete will bring the total number of u...

Read the whole news JOE - The St. Joe Company and HomeCorp Announce the Construction of an Additional 120 Apartment Homes at Pier Park Crossings in Panama City Beach, Florida

In at 16.85

The St. Joe Company Announces Retirement of Jeff Keil, Successor & Management Changes (11/19/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) today announced that Jeffrey Keil is retiring from his position as President & Interim Chief Executive Officer, effective as of November 18, 2015. Mr. Keil has served as a Director on the St. Joe Board of Directors since 2011 and assumed the position of President and Interim CEO in August 2014 upon the retirement of Park Brady.

“The entire Board would like to thank Jeff for his agreeing to step in and serve as our President and Interim CEO during a time of need. His leadership during a period of transition at St. Joe was invaluable. Among many things, Jeff was instrumental in assessing talent at St. Joe and formulating a succession plan for our executive leadership,” said Bruce Berkowitz, Chairman of the Board.

Mr. Keil, who has also resigned from his position on the Board of Directors as of November 18, said “It would be difficult for me to imagine a happier way to conclude my tenure with St. Joe than by announcing that Jorge Gonzalez, a senior colleague at St. Joe, has been selected as my successor as President & CEO. Jorge has been with St. Joe for 13 years and his most recent assignment has been Senior Vice President of Development. In that capacity he supervised the long and complex sector planning entitlement process that was successfully concluded earlier this year, leaving the company in a position to advance development of the beautiful and contiguous land it has owned for over 50 years.”

Mr. Gonzalez has held positions of increasing responsibility throughout his tenure with the Company. “Jorge’s experience and thorough understanding of the Company’s history and operations, as well as his leadership capabilities make him an excellent choice to lead St. Joe,” said Bruce Berkowitz.

“I am excited to lead St. Joe in the position of President and CEO and I look forward to working with the talented team of individuals to take the Company into the future,” said Jorge Gonzalez. Mr. Gonzalez has also been appointed to fill the vacancy on the Company’s Board of Directors created by Mr. Keil’s retirement.

The Company also announced today the departure of Patrick Bienvenue, Executive Vice President, effective as of November 18, 2015. Mr. Bienvenue is relocating and plans to pursue other opportunities. Mr. Bienvenue joined St. Joe in September of 2011, during a time of transition with St. Joe’s Board and management team. “Patrick has been invaluable over the last four years and we have benefited from his leadership and dedication in significant ways, particularly as it relates to the advancement of strategic planning and development initiatives, as well as his contribution to the accomplishment of significant development rights for the Company. We wish him well and thank him for his leadership,” said Jeff Keil.

Important Notice Regarding Forward-Looking Statements

This press release includes forward-looking statements, including the Company’s statement regarding its belief that it is positioned to advance development of its contiguous land. The statements made by the Company are based upon management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control and the risk factors and other cautionary statements described in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K filed with the SEC on February 27, 2015 as updated by subsequent Quarterly Reports on Form 10-Qs and other current report filings.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate company concentrated primarily between Tallahassee and Destin, Florida. More information about the Company can be found on its website at www.joe.com.

© 2015, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight" Design®, "St. Joe (and Taking Flight Design)®" are registered service marks of The St. Joe Company.

http://www.businesswire.com/news/home/20151119006708/en/St.-Joe-Company-Announces-Retirement-Jeff-Keil

The St. Joe Company Reports Third Quarter 2015 Results and Announces Additional Authority for Repurchases of Shares of Its Common Stock (11/05/14)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) (the “Company”) today announced Net Income for the third quarter of 2015 of $2.8 million, or $0.03 per share, compared with Net Loss of $(0.1) million, or $(0.00) per share, for the third quarter of 2014. For the nine months ended September 30, 2015, the Company reported Net Income of $0.8 million, or $0.01 per share compared to Net Income of $417.6 million, or $4.52 per share for the same period last year. The 2014 earnings included the Company’s AgReserves and RiverTown transactions.

During the nine months ended September 30, 2015, the Company repurchased a total of 16,982,739 shares of its common stock outstanding. This amount included 16,348,143 shares of its common stock acquired pursuant to a tender offer at a purchase price of $18.00 per share, for a total purchase price of $294.3 million. The tender offer was announced on August 21, 2015 and expired on September 22, 2015. In addition, prior to the commencement of the tender offer, the Company purchased 634,596 shares of its common stock under its Stock Repurchase Program at a weighted average purchase price of $16.03 in open market transactions. As of September 30, 2015, the Company had approximately 75.3 million shares outstanding.

The Company’s Board of Directors recently approved an additional amount of $200 million for the repurchase of its outstanding common stock under the Company’s Stock Repurchase Program. As a result, the Company currently has a total of $205.7 million available for share repurchases. The Company may repurchase its stock in open market purchases pursuant to Rule 10b-18, in privately negotiated transactions or otherwise. The timing and amount of any additional shares to be repurchased will depend upon a variety of factors, including market and business conditions, applicable legal requirements and other factors. Repurchases may be commenced or suspended at any time or from time to time without prior notice. The Stock Repurchase Program will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in its sole discretion.

Third Quarter 2015 update includes:
• Total revenue for the quarter was $27.8 million as compared to $24.0 million in the third quarter of 2014. The Company experienced increases in real estate sales, resorts and leisure revenues, leasing revenues and timber sales.
• Real estate sales increased to $4.9 million in the third quarter of 2015 as compared to $3.9 million in the third quarter of 2014.
• Resorts and leisure revenue increased approximately $1.6 million, or 10%, during the three months ended September 30, 2015, as compared to the third quarter of 2014. The increase was primarily due to higher membership revenue, additional nights rented, higher average rates in vacation rental programs and ancillary receipts.
• Leasing operations increased $0.4 million during the third quarter of 2015, as compared to the third quarter of 2014. The increase was primarily related to the increase in lease revenue at Pier Park North.
• Timber sales increased to $1.9 million during the third quarter of 2015 as compared to $1.1 million in the third quarter of 2014 due to tons sold. Tons sold were approximately 109,000 during the third quarter of 2015 as compared to approximately 76,000 tons during the third quarter of 2014. Gross margins increased during the third quarter of 2015 to 89%, as compared to 82% during the third quarter of 2014.
• Investment income and realized gains from the Company’s available-for-sale securities for the third quarter of 2015 was $7.0 million as compared to $1.0 million during the third quarter of 2014. Approximately $5.3 million in gains related to a sale of corporate debt securities.
• As of September 30, 2015, the Company had cash, cash equivalents and investments of $409.9 million, as compared to $671.4 million as of December 31, 2014. The decrease was related to the $304.9 million of cash used for the stock repurchases.

Jeffrey C. Keil, the Company’s President and Interim Chief Executive Officer said, “We are pleased with the result of the repurchase programs and the Board’s decision to increase the authority by $200 million.” Mr. Keil added, “We are committed to maintaining a healthy balance sheet as we continue to pursue value creation for our shareholders.”

[tables deleted]

Additional Information and Where to Find It

Additional information with respect to the Company’s results for the third quarter of 2015 will be available in a Form 10-Q that will be filed with the Securities and Exchange Commission.

Important Notice Regarding Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the Company’s expectations regarding its financial position and its pursuit of value creation for its shareholders, as well as its plans with respect to share repurchases. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company’s actual results and could cause the Company’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company, including (1) changes in the Company’s strategic objectives and its ability to implement such strategic objectives; (2) economic or other conditions that affect the future prospects for the Southeastern region of the United States and the demand for the Company’s products, including a slowing of the population growth in Florida, inflation, or unemployment rates or declines in consumer confidence or the demand for, or the prices of, housing; (3) any potential negative impact of the Company’s longer-term property development strategy, including losses and negative cash flows for an extended period of time if the Company continues with the self-development of recently granted entitlements; (4) the impact of natural or man-made disasters or weather conditions, including hurricanes and other severe weather conditions, on the Company’s business; (5) the Company’s ability to capitalize on its leasing operations in the Pier Park North joint venture; (6) the Company’s ability to capitalize on opportunities relating to its mixed use and active adult communities, including its ability to successfully and timely obtain land-use entitlements and construction financing, maintain compliance with state law requirements and address issues that arise in connection with the use and development of its land, including the permits required for the mixed use and active adult communities; (7) the impact of market volatility on the value of the Company’s investments, including potential unrealized losses or the realization of losses on its investments; (8) the Company’s use of its share repurchase authorization and its ability to carry out the Stock Repurchase Program in accordance with applicable securities laws; (9) the Company’s ability to realize the anticipated benefits of its Stock Repurchase Program; and (10) the Company’s ability to effectively deploy and invest its assets, including available-for-sale securities; as well as, the cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings including the Company’s Annual Report on Form 10-K filed with the Commission on February 26, 2015 as updated by subsequent Quarterly Reports on Form 10-Qs and other current report filings.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate company concentrated primarily between Tallahassee and Destin, Florida. More information about the Company can be found on its website at www.joe.com.

http://www.businesswire.com/news/home/20151105006825/en/St.-Joe-Company-Reports-Quarter-2015-Results

The St. Joe Company Announces Final Results of Tender Offer (9/28/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE:JOE) announced today the final results of its tender offer, which expired at 5:00 p.m., New York City time, on September 22, 2015.

Based on the final count by the depositary, the Company accepted for purchase 16,348,143 shares of its common stock at a purchase price of $18.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, for a total purchase price of approximately $294.3 million. The repurchased shares represent approximately 17.8% of the Company’s common stock outstanding as of September 24, 2015. The Company will promptly pay for the shares accepted for purchase.

D.F. King & Co., Inc. acted as information agent for the tender offer and American Stock Transfer & Trust Company, LLC acted as the depositary. All inquiries about the tender offer should be directed to D.F. King & Co., Inc. at (800) 330-5897 (Toll Free) or (212) 269-5550 (Collect).

Important Notice Regarding Forward-Looking Statements

This press release may include forward-looking statements, including statements regarding the Company’s ability to complete the tender offer, the number of shares the Company will be able to purchase in the tender offer and the ability to achieve the benefits contemplated by the tender offer. The statements made by the Company are based upon management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control and the risk factors and other cautionary statements described in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K filed with the SEC on February 27, 2015 as updated by subsequent Quarterly Reports on Form 10-Qs and other current report filings.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate development and operating company with real estate assets and operations currently concentrated primarily between Tallahassee and Destin, Florida. The Company uses these assets in its residential or commercial real estate developments, resorts and leisure operations, leasing operations or its forestry operations. More information about the Company can be found on its website at www.joe.com.

© 2015, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight" Design®, "St. Joe (and Taking Flight Design)®" are registered service marks of The St. Joe Company.

http://www.businesswire.com/news/home/20150928005333/en/St.-Joe-Company-Announces-Final-Results-Tender#.VgkuLjZdGUk

The St. Joe Company Announces Preliminary Results of Tender Offer (9/23/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) announced today the preliminary results of its tender offer, which expired at 5:00 p.m., New York City time, on September 22, 2015.

Based on a preliminary count by the depositary, the total number of shares tendered and not validly withdrawn in the offer is 16,497,078. Of the total shares tendered, 888,992 were tendered pursuant to the guaranteed delivery procedure described in the Company’s Offer to Purchase. Tenders made pursuant to the guaranteed delivery procedure will be accepted upon receipt of the related stock certificates or confirmation of book entry transfer, along with any other required documentation, within three business days after the notice of guaranteed delivery was delivered to the depositary. Based on the preliminary count, the Company expects to purchase 16,497,078 properly tendered shares at $18.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, for a total purchase price of approximately $296.9 million.

The actual number of shares to be purchased is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. The actual number of shares will be announced promptly following completion of the verification process. Payment for shares accepted and the return of all shares tendered but not accepted will occur promptly after determination of the number of shares properly tendered.

D.F. King & Co., Inc. acted as information agent for the tender offer and American Stock Transfer & Trust Company, LLC acted as the depositary. All inquiries about the tender offer should be directed to D.F. King & Co., Inc. at (800) 330-5897 (Toll Free) or (212) 269-5550 (Collect).

http://www.businesswire.com/news/home/20150923005410/en/St.-Joe-Company-Announces-Preliminary-Results-Tender#.VgKkWDZdGUk

The St. Joe Company Announces Tender Offer for Shares of Its Common Stock (8/21/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) announced today that on August 24, 2015 it will commence a tender offer to purchase up to 16,666,666 shares of its outstanding common stock at a price of $18.00 per share. In connection with authorizing the tender offer, the Company’s board of directors has increased the authority under the Company’s stock repurchase program to $300 million (including previously unused authority of $93.6 million), substantially all of which would be used if the tender offer is fully subscribed.

The tender offer will be made upon the terms and subject to the conditions described in the Company’s Offer to Purchase to be dated August 24, 2015, and will expire at 5:00 P.M., New York City time, on September 22, 2015, unless extended by the Company. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case, in accordance with the procedures described in the tender offer materials. If more than 16,666,666 shares are properly tendered and not properly withdrawn, the Company will purchase shares from all tendering shareholders on a pro rata basis as specified in the Offer to Purchase, subject to the “odd lot” and conditional tender provisions described in the Offer to Purchase.

The tender offer will be subject to a number of terms and conditions, but will not be conditioned on receipt of financing. The Company expects to fund share purchases in the tender offer from current assets, including a portion of the cash proceeds the Company received from the AgReserves and RiverTown sales. After the expiration of the tender offer, shareholders whose shares are purchased in the tender offer will be paid the purchase price in cash, less any applicable withholding taxes and without interest.

Specific instructions and a complete explanation of the terms and conditions of the tender offer will be contained in the Offer to Purchase and related materials that will be sent to shareholders beginning on August 24, 2015.

D.F. King & Co., Inc. will serve as information agent for the tender offer, and American Stock Transfer & Trust Company, LLC will serve as the depositary for the tender offer.

The Company’s board of directors has approved the tender offer. However, none of the Company or its board of directors, the information agent or the depositary in connection with the tender offer, is making any recommendation to shareholders as to whether to tender or refrain from tendering shares in the tender offer. Shareholders should carefully evaluate all information in the Offer to Purchase and the related Letter of Transmittal, should consult with their own financial and tax advisors, and should make their own decisions about whether to tender shares, and, if so, how many shares to tender.

Tender Offer Statement

The tender offer described herein has not yet commenced. This release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of the Company’s common stock. The solicitation and offer to buy the Company’s common stock will only be made pursuant to the Offer to Purchase, letter of transmittal and related materials being sent to the Company’s shareholders. Shareholders should read those materials carefully prior to making any decision with respect to the offer because they will contain important information, including the various terms and conditions of the tender offer. Shareholders will be able to obtain copies of the Offer to Purchase, letter of transmittal and related materials that will be filed by the Company with the SEC through the SEC’s internet address at www.sec.gov without charge when these documents become available. Shareholders and investors may also obtain a copy of these documents, as well as any other documents the Company has filed with the SEC, without charge, from the Company or at the Investor Relations section of the Company’s website: ir.joe.com or by calling D.F. King & Co., Inc., the information agent for the tender offer, at (800) 330-5897 (Toll Free) or (212) 269-5550 (Collect).

Important Notice Regarding Forward-Looking Statements

This press release may include forward-looking statements, including statements regarding the Company’s ability to commence and complete the tender offer, the number of shares the Company will be able to purchase in the tender offer and the ability to achieve the benefits contemplated by the tender offer. The statements made by the Company are based upon management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control and the risk factors and other cautionary statements described in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K filed with the SEC on February 27, 2015 as updated by subsequent Quarterly Reports on Form 10-Qs and other current report filings.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate development and operating company with real estate assets and operations currently concentrated primarily between Tallahassee and Destin, Florida. The Company uses these assets in its residential or commercial real estate developments, resorts and leisure operations, leasing operations or its forestry operations. More information about the Company can be found on its website at www.joe.com.

© 2015, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight" Design®, "St. Joe (and Taking Flight Design)®" are registered service marks of The St. Joe Company.

http://www.businesswire.com/news/home/20150821005730/en/St.-Joe-Company-Announces-Tender-Offer-Shares#.VdgKdmY8LCQ

The St. Joe Company Reports Second Quarter 2015 Results (8/06/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) (the “Company”) today announced Net Loss for the second quarter of 2015 of ($0.2) million, or $0.00 per share, compared with Net Income of $14.6 million, or $0.16 per share, for the second quarter of 2014. The RiverTown sale accounted for $43.6 million of revenue and $26.0 million of Net Income in the second quarter of 2014. On June 30, 2015, the Company received the remaining portion of the $19.6 million purchase money note related to the RiverTown sale.

For the six months ended June 30, 2015, the Company reported Net Loss of $(2.0) million, or $(0.02) per share compared to Net Income of $417.6 million, or $4.52 per share for the same period last year. The 2014 earnings include the Company’s AgReserves and RiverTown transactions.

As previously announced, the second quarter results include certain amounts related to the ongoing SEC investigation. The second quarter accrual of $7.4 million includes a reserve of $3.5 million established for potential settlement costs and $3.9 million related to legal expenses for which the Company has received a reservation of rights from the insurer.

Second Quarter 2015 update includes:

• Total revenue for the quarter was $37.8 million as compared to $24.6 million, excluding the $43.6 million RiverTown Sale, in the second quarter of 2014.

• Excluding the RiverTown sale in 2014, real estate sales increased from $5.3 million in the second quarter of 2014 to $14.0 million in the second quarter of 2015. While residential real estate revenue decreased from $4.2 million in the second quarter of 2014 to $4.0 million in the second quarter of 2015, gross margins increased from 40.5% for the three months ended June 30, 2014 to 52.5% in for the three months ended June 30, 2015. The increase in gross margin is primarily related to sales mix and lot price increases. Commercial real estate sales increased from $1.0 million in the second quarter of 2014 to $4.7 million in the second quarter of 2015. The majority of the revenue in the quarter is related to a 6.5 acre non-strategic land parcel sale. In addition, the Company completed a $5.3 million rural land transaction.

• Resorts and leisure revenue increased $2.8 million, or 17%, during the three months ended June 30, 2015, as compared to the second quarter of 2014. The increase was primarily due to additional homes in the Company’s vacation rental business and increased membership revenues since the launch of St. Joe Club & Resorts in 2014.

• Leasing operations increased $0.5 million, or 29%, during the second quarter of 2015, as compared to the second quarter of 2014. The increase is primarily related to the increase in lease revenue in the Pier Park North joint venture.

• Timber sales increased to $2.3 million during the second quarter of 2015 as compared to $1.1 million in the second quarter of 2014 due to tons delivered. Tons delivered were approximately 125,000 during the second quarter of 2015 as compared to approximately 60,000 tons during the second quarter of 2014. Gross margins increased during the second quarter of 2015 to 87%, as compared to 82% during the second quarter of 2014.

• Investment income from the Company’s available-for-sale securities for the second quarter of 2015 was $2.8 million as compared to $1.6 million during the second quarter of 2014.

• As of June 30, 2015, the Company had cash, cash equivalents and investments of $713.5 million, as compared to $671.4 million as of December 31, 2014.

Jeffrey C. Keil, the Company’s President and Interim Chief Executive Officer, said “We are pleased to have the Bay-Walton County Sector Plan adopted with overwhelming support.” Mr. Keil added, “We are in position to offer a way of life that will appeal to people considering Florida for retirement. It’s a really significant opportunity for St. Joe.”

[tables deleted]

Additional Information and Where to Find It

Additional information with respect to the Company’s results for the second quarter of 2015 will be available in a Form 10-Q that will be filed with the Securities and Exchange Commission.

Important Notice Regarding Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the Company’s expectations regarding the Company’s business strategy and future operations. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company’s actual results and could cause the Company’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company, including (1) changes in the Company’s strategic objectives, including any such changes implemented as a result of the Company’s planned CEO search; (2) economic or other conditions that affect the future prospects for the Southeastern region of the United States and the demand for the Company’s products, including a slowing of the population growth in Florida, inflation, or unemployment rates or declines in consumer confidence or the demand for, or the prices of, housing; (3) pending or future regulatory or legislative actions, accounting changes or litigation that could adversely affect the Company; (4) the impact of natural or man-made disasters or weather conditions, including hurricanes and other severe weather conditions, on the Company’s business; (5) changes in the Company’s customer base and the mix of homesites available for sale in its residential real estate; (6) changes in the cyclical nature of the Company’s real estate operations; (6) the Company’s ability to capitalize on its leasing operations in the Pier Park North joint venture; (7) the Company’s ability to effectively execute its strategy in its resorts and leisure operations; (8) the Company’s ability to capitalize on opportunities relating to its planned mixed use and active adult communities, including its ability to successfully and timely obtain land-use entitlements and construction financing, and address issues that arise in connection with the use and development of its land, including the permits required for the launch of its planned mixed use and active adult communities; (9) the realization of any unrealized losses related to the Company’s investments, including any potential further downturns in the Company’s corporate debt securities or any other of its investments; and (10) the Company’s ability to effectively deploy and invest its assets, including available-for-sale securities; as well as, the cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings including the Company’s Annual Report on Form 10-K filed with the Commission on February 26, 2015 as updated by subsequent Quarterly Reports on Form 10-Qs and other current report filings.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate development and operating company with real estate assets and operations currently concentrated primarily between Tallahassee and Destin, Florida. The Company uses these assets in its residential or commercial real estate developments, resorts and leisure operations, leasing operations or its forestry operations. More information about the Company can be found on its website at www.joe.com.

© 2015, The St. Joe Company. “St. Joe®”, “JOE®”, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design)®” are registered service marks of The St. Joe Company.

http://www.businesswire.com/news/home/20150806006283/en/St.-Joe-Company-Reports-Quarter-2015-Results#.VcPbQyHbKUk

JOE Short Interest

6/25/15: 9,167,701

5/29/15: 9,507,061

Chg: -339,360

% Chg: -3.6

% Float: 9.9

Days to cover: 12

Avg daily volume: 757,204

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=joe&insttype=&freq=1&show=&time=9

Being an enterprising investor requires patience.

Sometimes, it takes me months to invest in a business. I created this board on 6/04/09. Today, I finally pulled the trigger and bought JOE at $15.55.

Most shareholders would prefer a stock buyback or a large dividend.

I do not. And I am sure that I am in the minority.

This new project will require an unknown amount of capital. It will be much easier to fund the early stages internally rather than asking a bank (or equivalent) to loan money.

JOE currently has $103.8 million available for shareholder initiatives. You listened to the conference call today and you say they have $103.8MM in "shareholder initiatives" and I'm assuming you mean they have the money to do stock buy backs or pay dividends, etc... Yes ?

I would think JOE would want to hang on to the money...No?

Marker:
ST. Joe Co. (The) (JOE)
$15.53 UP 0.21 (1.37%)
Volume: 1,643,594

JOE currently has $103.8 million available for shareholder initiatives.

Annual Shareholder Meeting (6/30/15)

http://edge.media-server.com/m/p/xp5y35an

The St. Joe Company Provides an Update on the Bay-Walton County Sector Plan Entitlements and Reports Selected Preliminary Results for Second Quarter 2015 (6/30/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) (the “Company”) announced today that the Bay-Walton County Sector Plan (the “Sector Plan”) has been officially adopted by Bay County and Walton County. In addition, the Sector Plan has been found in compliance with state law and is therefore in effect. The Sector Plan is a master plan that includes entitlements, or legal rights, to develop over 170,000 residential units and over 22 million square feet of retail, commercial, and industrial uses on 110,500 acres of the Company’s land holdings. A significant amount of these entitlements are planned to service the active adult retirement market and additionally, the Company anticipates a wide range of other residential and commercial uses. While these entitlements are broadly defined, what will actually be developed will be a function of more detailed planning, analysis, and market conditions, which will occur over time. Additional information on the Sector Plan will be discussed at today’s annual meeting of shareholders which the Company will webcast on its website at www.joe.com.

The Company also announced today preliminary unaudited selected financial information for the second quarter of 2015. Based upon preliminary financial data, the Company expects revenue for the second quarter of 2015 to be approximately $36 million to $38 million as compared to $68.2 million in the second quarter of 2014. The RiverTown sale accounted for $43.6 million of revenue in the second quarter of 2014. The Company anticipates pre-tax income to be in the range of $2 million to $3 million for the second quarter of 2015 as compared to pre-tax income of $23.3 million for the second quarter of 2014, which included $26 million pre-tax income from the RiverTown sale. Preliminary results for the second quarter of 2015 include approximately $6.4 million for legal reserves that the Company expects to record during the quarter arising from the ongoing SEC investigation. Of this amount, $2.9 million is related to legal expenses for which the Company has received a reservation of rights from the insurer and $3.5 million is related to potential settlement costs. The Company expects that its effective tax rate for the quarter will be higher than its historical rates as amounts reserved for settlement costs may not be deductible for income tax purposes.

The preliminary financial results presented in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of Company’s financial results or positions as of or for the quarter, and have not been audited or reviewed by our independent registered accounting firm. During the course of that process, the Company may identify items that would require it to make adjustments, which may be material, to the information presented above. As a result, the preliminary results above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary operating results.

Additional information with respect to the Company’s results for the second quarter of 2015 will be available in a Form 10-Q that will be filed with the Securities and Exchange Commission.

Important Notice Regarding Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the intended use and impact of the Sector Plan and the Company’s preliminary unaudited 2015 financial performance including estimated revenue, pre-tax income, legal reserves and expenses, and tax rate. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the risk factors and other cautionary statements described in the Company’s filings with the SEC, including the final results of the Company’s audit.

About The St. Joe Company

The St. Joe Company together with its consolidated subsidiaries is a real estate development and operating company with real estate assets and operations currently concentrated primarily between Tallahassee and Destin, Florida. The Company currently uses these assets in its residential or commercial real estate developments, resorts and leisure operations, leasing operations or its forestry operations. More information about the Company can be found on its website at www.joe.com.

© 2015, The St. Joe Company. “St. Joe®”, “JOE®”, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design)®” are registered service marks of The St. Joe Company.

http://www.businesswire.com/news/home/20150630005797/en/St.-Joe-Company-Update-Bay-Walton-County-Sector#.VZMHO4nbKUk

St. Joe Eyeing Residential Resorts; Right Time to Buy?

The St. Joe Company (JOE - Analyst Report) is making concerted efforts to maximize shareholder value by focusing on its residential resort communities, primary homes and the active adult residential market. The company is now reaping benefits from the commencement of its private membership club, St. Joe Club & Resorts that was done in first-quarter 2014.

Also, St. Joe is exploring potential opportunities to sell assets that are not a strategic fit to the company's core real estate development activities such as residential lots, timber land, rural land and/or related timber rights. On the other hand, the company continues to explore new commercial and industrial uses for its land portfolio. Notably, a significant amount of the company’s land is strategically positioned near the Northwest Florida Beaches International Airport and the coast of Gulf of Mexico.

[....]

http://www.zacks.com/stock/news/146926/st-joe-eyeing-residential-resorts-right-time-to-buy

Marker:
ST. Joe Co. (The) (JOE)
$18.62 up 0.1 (0.54%)
Volume: 660,797

FD: I do not own shares of JOE at this time.

JOE Announces Watercolor Inn & Resort Receives Four-Star Rating from Forbes Travel Guide (3/19/13)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE:JOE) announced today that its WaterColor Inn & Resort has received a Four-Star rating from Forbes Travel Guide. The WaterColor Inn & Resort is one of only 18 hotels in Florida to earn this honor. This year marked Forbes Travel Guide’s 55th annual listing of Star Award-winning hospitality establishments worldwide.

The WaterColor Inn & Resort offers luxurious accommodations at both the 60-room Inn and well-appointed residences and charming cottages. The resort has award-winning dining at Fish Out of Water, a full-service spa, Kids Camp, golf, tennis, biking, kayaking and fishing.

“We’re delighted to receive this recognition,” said Patrick Murphy, Vice President of Operations for The St. Joe Company. “The Forbes standard for a Four-Star Resort encompasses everything WaterColor Inn & Resort strives to provide each guest. Our resort operations continue to grow and these accolades are a testament to the service we provide as we launch our 30A Vacation Rentals program.”

“The Forbes Travel Guide annual Star Awards represent the best in class in luxury hospitality. Travelers seeking exceptional experiences rely on our ratings to guide them to the world’s finest hotels, restaurants and spas,” said Michael Cascone, President and COO of Forbes Travel Guide.

Other accolades the WaterColor Inn & Resort has received in 2013 include Conde Nast Traveler’s “Platinum Circle” and “Gold List” as well as the Four Diamond rating by AAA. The Inn’s premier restaurant, Fish Out of Water, has also received the Four Diamond rating by AAA and was recently featured on the cooking channel’s Emeril’s Florida. The resorts spa, InnSpa, was ranked #19 in the 2013 Conde Nast Travelers, “Readers Spa Poll” for North America.

About St. Joe

The St. Joe Company is a Florida-based real estate developer and manager. The Company owns approximately 567,000 acres of land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The majority of land not under development is used for the growing and selling of timber. The Company also owns various commercial, resort and club properties. More information about the Company can be found on its website at www.joe.com.

About WaterColor Inn & Resort

The WaterColor Inn & Resort offers luxurious accommodations at both the exclusive 60-room Inn and well-appointed residences and charming cottages. The resort has award-winning dining at Fish Out of Water, a full service spa, Kids Camp, golf, tennis, biking, kayaking and fishing. WaterColor Inn & Resort was developed and is owned by The St. Joe Company and is managed by Seattle-based Noble House Hotels & Resorts. For more information about WaterColor visit www.watercolorresort.com.

About 30A Vacation Rentals

Launched in 2012, 30A Vacation Rentals is managed by the experienced team at WaterColor Inn & Resort. 30A Vacation Rentals offers an array of vacation homes and condominiums along scenic 30A with amenities to match the premier locations. Homeowners and guests will enjoy access to the most exclusive clubs along this beautiful byway. www.30avacationrentals.com

Forward-Looking Statements

Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Company’s beliefs, plans, goals, expectations and intentions. Forward-looking statements involve risk and uncertainty, and there can be no assurance that the results described in such statements will be realized. Such statements are based on our current expectations and the company undertakes no obligation to publicly update or reissue any forward-looking statements. Risk factors that may cause the actual results to differ are described in various documents that have been filed with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 10-K filed with the Commission on March 1, 2013.

http://www.businesswire.com/news/home/20130319006497/en/St.-Joe-Company-Announces-Watercolor-Inn-Resort

JOE Reports Full Year and Fourth Quarter 2012 Results (2/28/13)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) today announced Net Profit for the full year ended 2012 of $6.0 million, or $0.07 per share. This compares to a Net Loss of $(330.3) million, or $(3.58) per share for the year 2011, which included pre-tax non-cash impairment charges of $377.3 million, or $3.52 per share after tax.

2012 highlights include:

• The number of residential units sold increased from 133 units in 2011 to 158 units in 2012. Pricing also improved, particularly in the Company’s resort communities. The combination of higher pricing and a greater number of units sold contributed to a revenue increase of 81% in residential real estate sales in 2012 compared to 2011.

• Tons of timber sold increased approximately 19% year over year because the Company opened more of the Company’s land to timber harvesting, and our investments in technology and infrastructure had a positive impact on production.

• Revenue in the Company’s resorts, leisure and leasing operations business grew approximately 16% in 2012 compared to 2011 due to a strong summer vacation season as well as the commencement of rent for two commercial leases, one at Port St. Joe and the other at Venture Crossings, in the latter half of 2012.

• Real estate sales in the Company’s rural land businesses was positively and significantly impacted by the sale of two non-strategic pieces of property totaling 3,240 acres at an average price of $5,655 per acre, or $18.3 million in total.

• Operating and corporate expenses declined $18.8 million compared to 2011 as a result of lower legal fees, decreased pension charges and reduced stock-based compensation charges.

• The Company prepaid $19.3 million of debt at its RiverTown project related to infrastructure and community improvement projects. By prepaying the debt, the Company will save approximately $6.0 million in interest expense over the next four and half years.

Park Brady, St. Joe’s Chief Executive Officer, said, “We’re very happy with our progress in 2012. Operating results in each of our businesses improved compared to 2011. Our residential development business, in particular, experienced improving trends in sales volume and pricing and that momentum appears to be carrying forward into 2013. Although the economic recovery is still slow, we are optimistic about future growth in our businesses.”

Mr. Brady continued, “We’re excited about our key initiatives in 2013. For example, we believe that the retiree demographic presents us with a unique opportunity given our development expertise and the fact that we own a substantial amount of contiguous land located in a desirable part of the country. To that end, we’ve been working with the best active adult community planners and consultants in the country and collaborating with national builders to bring that concept to reality. Another unique opportunity is the Port at Port St Joe. Our Port boasts the shortest distance to the Panama Canal of any port in the United States. That fact coupled with the long term growth prospects for the Southeast will be, we believe, the basis for building a vibrant port within the next few years. Both of these initiatives are longer term in nature but you will see evidence of our progress in 2013.”

Mr. Brady concluded, “In addition to these initiatives we continue to evaluate all of our assets to determine their best use in creating long term shareholder value. We’re excited about the potential opportunities represented by our assets, especially against the backdrop of an improving economy.”

http://www.businesswire.com/news/home/20130228006598/en/St.-Joe-Company-Reports-Full-Year-Fourth

JOE Announces Early Termination of Southwest Airlines Guarantee Agreement (7/02/12)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE:JOE) ("St. Joe") today announced the early termination of the Strategic Alliance Agreement For Air Service between Southwest Airlines Co. (“Southwest”) and St. Joe. The agreement required St. Joe to reimburse Southwest for up to $26.0 million of losses during the first three years of operation at the new Northwest Florida Beaches International Airport (ECP). St. Joe has not been required to make any payments under the agreement. The early termination is effective July 1, 2012.

We are proud to have played a critical role in securing air service by Southwest to Northwest Florida Beaches International Airport,” said St. Joe CEO Park Brady. “Southwest enabled not only increased visitation to our region but also reduced airfares that are enjoyed by the residents of our local communities.”

Southwest initiated service to ECP on May 23, 2010, in conjunction with the opening of the new airport located at West Bay in Panama City Beach, FL. “The addition of Southwest’s service is a true success, with Southwest accounting for 57% of the passenger market share and taking the Airport from 9% of the Northwest Florida’s passenger traffic in 2009 to 25% in 2012,” according to John Wheat, ECP’s Executive Director.

“The financial safety net provided by St. Joe was instrumental in attracting Southwest Airlines to Northwest Florida Beaches International. In every respect, the Agreement with St. Joe has been a triumph. It has fulfilled its mission and achieved its intended purpose,” explained Bob Montgomery, Vice President – Airport Affairs for Southwest.

Recently, Southwest extended their lease agreement with the Northwest Florida International Beaches Airport through 2015, illustrating their commitment to the market and the communities of northwest Florida.

About St. Joe

The St. Joe Company is a Florida-based real estate developer and manager. The Company owns approximately 573,000 acres of land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The majority of land not under development is used for the growing and selling of timber or is available for sale. The Company also owns various commercial, resort and club properties. More information about the Company can be found on its website at www.joe.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Company's beliefs, plans, goals, expectations and intentions. Forward-looking statements involve risk and uncertainty, and there can be no assurance that the results described in such statements will be realized. Such statements are based on our current expectations and the company undertakes no obligation to publicly update or reissue any forward-looking statements. Risk factors that may cause the actual results to differ are described in this press release and in various documents that have been filed with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 10-K filed with the Commission on February 27, 2012.

© 2012, The St. Joe Company. "St. Joe," and the "Taking Flight" designs are service marks of The St. Joe Company.


Contacts
St. Joe:
Lori Elliott, 850-402-5138
Director, Marketing
lori.elliott@joe.com

http://www.businesswire.com/news/home/20120702006444/en/St.-Joe-Company-Announces-Early-Termination-Southwest

JOE Reports First Quarter 2012 Results (5/03/12)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) today announced a Net Loss for the first quarter of 2012 of $(0.9) million, or $(0.01) per share, compared to Net Income of $14.1 million, or $0.15 per share for the first quarter of 2011.

Revenue for the first quarter of 2012 declined to $30.5 million compared to $73.4 million in the first quarter of 2011. The $42.9 million decline in revenue is due to one-time revenue generated by a timber deed transaction that was executed in the first quarter of 2011. That particular transaction added $54.5 million of revenue and $50.3 million in pre-tax gain to the 2011 first quarter results. Excluding the timber deed transaction, adjusted revenue grew 61%, from $18.9 million in the first quarter of 2011 to $30.5 million in the first quarter of 2012. Highlights for the first quarter of 2012 include:

•Completion of two commercial property sales in Northwest Florida consisting of 17.5 acres for $6.0 million, or an average of $340,000 per acre;

•Operating expenses declined $17.1 million compared to the first quarter of 2011 as a result of reduction in staff, lower legal fees, lower restructuring and severance costs, and reduced stock-based compensation charges.

Park Brady, St. Joe’s Chief Executive Officer, said, “We are continuing to reduce expenses and evaluate our assets for revenue and growth opportunities. We believe that our current cash position and cost structure provide us with the ability to hold or opportunistically reposition our assets to create additional shareholder value. We intend to continue to invest in those projects that we believe will meet our risk-adjusted return criteria such as our holdings in Venture Crossings at the Airport, the Port of St. Joe, Breakfast Point, our primary home community in Northwest Florida, and Rivertown, our primary home community in Northeast Florida.”

At March 31, 2012, St. Joe had cash of $165.7 million, pledged treasury securities of $22.8 million and debt of $52.8 million, $22.8 million of which is defeased debt.

http://www.businesswire.com/news/home/20120503006974/en/St.-Joe-Company-Reports-Quarter-2012-Results

~ Monday! $JOE ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $JOE ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=JOE&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=JOE&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=JOE
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=JOE#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=JOE+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=JOE
Finviz: http://finviz.com/quote.ashx?t=JOE
~ BusyStock: http://busystock.com/i.php?s=JOE&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=JOE >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

thanks for the news

JOE Leases 20 Acres of Land to Eastern Shipbuilding Group to Expand Shipbuilding Operations into Gulf County (2/21/12)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) today announced that it will lease 20 acres of its former paper mill site in Port St. Joe (Gulf County), Florida, to Eastern Shipbuilding Group (ESG) of Panama City, Florida. ESG plans to expand its existing shipbuilding, vessel construction and repair and industrial steel fabrication operations to Port St. Joe. ESG will continue its operations in Panama City and Allanton. ESG’s Port St. Joe facility is immediately adjacent to one of only 14 state-authorized deep water ports in Florida. The Port St. Joe facility will enable ESG to meet its current and emerging contracts for vessel manufacturing requirements and has the potential to create many new jobs in Port St. Joe. In order to perform these contracts, ESG is already in the process of hiring 500 new employees who will join ESG’s current workforce.

“The hard and diligent work of our current workforce has earned Eastern Shipbuilding Group the manufacturing contracts that necessitate our expansion to Port St. Joe,” said Brian D’Isernia, President of Eastern Shipbuilding Group. “Eastern Shipbuilding Group remains committed to manufacturing the highest quality vessels our customers demand in a global market. I appreciate the assistance of Gulf County Commissioner Warren Yeager and Port Authority Chairman Joanna White whose tireless efforts led to our expansion to Gulf County.”

Governor Rick Scott added, “Congratulations to Eastern Shipbuilding Group and The St. Joe Company on their combined efforts and confidence in taking this bold step which solidifies new opportunities for our State’s economy, and specifically, our citizens across the Panhandle. Efforts like this are part of the success we are seeing in Florida to create a business climate that creates jobs, and I commend Eastern Shipbuilding’s commitment to our great State.”

“Eastern Shipbuilding’s expansion to Port St. Joe is great news for Florida,” said Senator Bill Nelson.

“Eastern Shipbuilding’s growth is continued evidence of the growth of our State’s diverse economy,” stated State Representative Marti Coley. “Brian D’Isernia’s vision and leadership for Eastern Shipbuilding will create opportunities for Eastern’s suppliers and vendors to grow their workforce as well. The expansion of Eastern Shipbuilding Group has the potential to put a lot of people back to work.”

“The community has been determined to create jobs and this achievement enables us to build a critical mass of industrial suppliers and vendors with an expanded and experienced labor force who can help attract other industrial tenants to our Port,” commented State Representative Jimmy Patronis. “This primes the pump for the growth of Eastern Shipbuilding and other potential Port tenants from around the world. We are fortunate that our available facilities in Port St. Joe were a perfect fit for a company of the magnitude and stature of Eastern Shipbuilding Group.”

State Senator Bill Montford said, “This is wonderful news for the people of Gulf County and all of North Florida. This is a very important step in the rebuilding of the economy, in our area, that will pay dividends for many years to come. It is an excellent example of interested parties coming together for the purpose of doing what is practical and right.”

“For over 30 years, Eastern Shipbuilding Group has produced specialized vessels for their customers around the world,” commented Congressman Steve Southerland. “There is no finer operation or harder working group of men and women than those at Eastern Shipbuilding Group. Congratulations to Gulf County on this significant achievement which brings the old mill site back to life and with it, the spirit of many residents who have longed for activity such as this.”

Gulf County Commission Chairman Warren Yeager stated, “The significance of this announcement cannot be overstated for the future of our county and the aspirations of generations of local residents who are excited to put their pride and reputation into specialized vessels that will travel around the world. This excites every man, woman and child in our county. We are all thankful for the blessings this announcement represents.”

“The expansion of Eastern Shipbuilding Group into Port St. Joe has the potential to provide the opportunity for many people to get back to work,” stated Mayor Mel Magidson of Port St. Joe. “We have weathered some difficult economic storms over time and this gives us a platform to stabilize our economy and begin attracting other businesses. On behalf of the City Commission and the citizens of Port St. Joe, I cannot express enough appreciation to Eastern Shipbuilding Group and Brian D’Isernia for believing in Port St. Joe, for investing in our community and for enabling us to once again see a bright future.”

St. Joe has been working with the Port St. Joe Port Authority to reposition this area for port-related industrial and commercial activities. St. Joe’s former paper mill site is approximately 180 acres in size and offers approximately 2,000 linear feet of bulkhead, which has the potential to be expanded. The Port and Eastern Shipbuilding Group’s Port St Joe facility is also adjacent to a federally-authorized turning basin and navigational channel.

St. Joe also owns about 4,700 acres of undeveloped land adjacent to the site, with more than three miles of frontage along the Gulf County Canal, which connects the Gulf of Mexico to Florida’s intracoastal waterway. Additionally, Eastern’s Port St. Joe facility has access to nearly 80 miles of St. Joe Company-owned railway that links Port St. Joe to other railway systems, connecting to numerous other U.S. cities, including Atlanta, New York and Chicago.

“We are pleased to welcome Eastern Shipbuilding Group to Port St. Joe and Gulf County and see this as a first step to maximizing this region’s potential for port-related industrial and commercial activities,” says Park Brady, Chief Executive Officer for The St. Joe Company. “With the Governor’s commitment to job creation, the expansion of the Panama Canal in 2014 and this area’s assets, we will continue working to attract more port-related businesses.”

Last month, The St. Joe Company and the Port St. Joe Port Authority executed a Memorandum of Understanding to partner and collaborate on port-related economic development initiatives.

“The day has finally arrived where jobs, good jobs have returned to Gulf County and the alliance between the Port Authority and The St. Joe Company is bearing fruit – it’s a win, win for everyone,” commented Johanna White, Chairman of the Port St. Joe Port Authority. “We are fortunate that our available facilities in Port St Joe were a perfect fit for a company of the magnitude and stature of Eastern Shipbuilding Group.”

About St. Joe

The St. Joe Company is a Florida-based real estate developer and manager. The Company owns approximately 573,000 acres of land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The majority of land not under development is used for the growing and selling of timber or is available for sale. The Company also owns various commercial, resort and club properties. More information about the Company can be found on its website at www.joe.com.

About Eastern Shipbuilding Group

Eastern Shipbuilding Group is a shipbuilding and marine repair company specializing in commercial steel and aluminum vessel construction and repair. Eastern also engages in industrial steel fabrication. Eastern Shipbuilding Group has become one of today's leading innovators in marine construction and repair, with three modern shipbuilding yards located in Bay County, Florida.

Over the years, Eastern Shipbuilding Group has positioned itself for longevity in the shipbuilding industry and marketplace by constructing a wide variety of vessels. This diversity continues to bolster Eastern Shipbuilding Group's market share and facilitates its reputation of building a varied collection of top-quality vessels. More information about the ESG can be found on its website at www.easternshipbuilding.com.

http://www.businesswire.com/news/home/20120221007014/en/St.-Joe-Company-Leases-20-Acres-Land

Lots of talk on CNBC this morning...

JOE Permits Fairholme to Acquire up to 50% (9/16/11)

On September 14, 2011, The St. Joe Company (the “Company”) entered into a Stockholder Agreement with Fairholme Funds, Inc. and Fairholme Capital Management, L.L.C., on behalf of the Fairholme Accounts, (“Fairholme Management” together with Fairholme Funds, Inc., “Fairholme”) permitting Fairholme to acquire beneficial ownership of up to 50% of the Company’s outstanding common stock. The Company had previously approved, in 2009, Fairholme’s acquisition of beneficial ownership of up to 30% of the Company’s outstanding common stock. As a result of the Board’s approval of the Stockholder Agreement, Florida’s control share acquisition statute will not apply to the beneficial ownership of shares of up to 50% of the Company’s outstanding common stock by Fairholme.

Pursuant to the terms of the Stockholder Agreement, Fairholme has agreed that, until September 14, 2016, it will vote any shares that it beneficially owns or has proxy voting authority in excess of 33.33% (calculated in accordance with the Stockholder Agreement) of the Company’s outstanding common stock in proportion to the manner in which all outstanding shares of common stock are voted. However, the proportional voting requirement will not apply in connection with any public solicitation of proxies for the removal of the Company’s directors or director nominees by a person or group other than Fairholme. Furthermore, the proportional voting requirement will be suspended or terminated in certain circumstances, including, but not limited to, (i) upon any person or group, other than Fairholme, becoming the beneficial owner of 15% or more of the Company’s outstanding common stock, (ii) upon the public announcement by the Company that it has entered into a definitive agreement for certain types of major transactions, including a merger or sale of all or substantially all the assets of the Company, (iii) upon the consummation of a sale by Fairholme to a non-affiliate holder of those shares of the Company’s common stock acquired after the date hereof (the “Additional Shares”) or (iv) with respect to Additional Shares beneficially owned by a Fairholme Account, upon the termination of Fairholme Management’s advisory agreement with such account.

http://sec.gov/Archives/edgar/data/745308/000119312511249855/d233300d8k.htm

JOE Reports Second Quarter 2011 Results (8/04/11)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) today announced a Net Loss for the second quarter of 2011 of $(13.3) million, or $(0.14) per share, compared to a Net Loss of $(8.6) million, or $(0.09) per share, for the second quarter of 2010. For the six months ended June 30, 2011, St. Joe reported Net Income of $0.8 million, or $0.01 per share, compared to a Net Loss of $(20.0) million, or $(0.22) per share, during the same period of 2010.

Results for the three months ended June 30, 2011 included an increase in operating revenues of 15% compared to the same period last year. Also included in this year’s second quarter results were elevated legal fees and restructuring charges totaling $9.5 million, an increase of $8.0 million over the same period last year.

During the quarter, St. Joe reduced its operating and corporate expenses by an annual run rate of approximately $15 million. The Company expects further reductions throughout the balance of the year and is committed to the goal of achieving sustainable cash flows from core operations in the near term.

Though still early in the economic and real estate recovery, as a result of renewed interest and demand in certain of the Company’s markets, St. Joe plans to invest approximately $30 million of capital over the next 12 months in its Breakfast Point, RiverTown and VentureCrossings projects. Additionally, the Company is experiencing meaningful business relocation interest and believes that it will announce commitments with one or more potential corporate tenants at VentureCrossings before year-end.

At June 30, 2011, St. Joe had cash of $199.8 million, pledged treasury securities of $24.3 million and debt of $53.1 million, $24.3 million of which is defeased debt. The Company believes that its current cash position and anticipated cash flows will be sufficient to meet its currently anticipated liquidity requirements and capital needs.

St. Joe is also continuing to explore strategic opportunities accretive to shareholders including joint ventures and partnerships, acquisitions or dispositions, investments, dividends and stock repurchases.

Additional Information

Additional information with respect to the Company’s results for the second quarter of 2011 will be available in a Form 10-Q that will be filed with the Securities and Exchange Commission.

About St. Joe

The St. Joe Company, a publicly held company based in WaterSound, is one of Florida’s largest real estate development companies and Northwest Florida’s largest private landowner. St. Joe is primarily engaged in real estate development and sales, with significant interests in timber. More information about the Company can be found on its website at www.joe.com.

http://www.businesswire.com/news/home/20110804006867/en/St.-Joe-Company-Reports-Quarter-2011-Results

"Land never depreciates, it only depletes." remarks of an Alabama Certified Real Property Appraiser!!

Enterprising Investor, I believe we're on the same page. I shall continue to watch for a possible declining pps. I plan on entering soon.

HT

Land lasts forever.

A fire, tornado or hurricane can destroy a structure, but the land remains.

Lawsuits most likely get settled.

Insurance companies pay all or most of the costs.

Buying opportunity at these levels.

However, keep some buying power handy for October.

Agreed.

This is headed back to bargain levels.

Last Trade: 18.10

It looks like we will get a close look at JOE soon.

BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces that it is investigating potential claims against The St. Joe Company (“St. Joe” or the “Company”) (NYSE:JOE - News) concerning possible breaches of fiduciary duties by the Company or its fiduciaries. St. Joe, together with its subsidiaries, operates as a real estate development company in Florida.

right now no ones givin much...

Well it is a fun company to keep an eye on...

land values,,,yes there have been a lot of games played with them...

like my pappy use to say...

"Piece of land is only worth what someone will give you for it."

creative bookeeping for creative laws....who knows.i dont.i do think its worth more than 20 bucks a share

Interesting info you posted there....

I saw something the other day that the prob was to understand how the company comes to the value of the land....

Just the thing we had been talking about.

St. Joe, Chairman Bruce Berkowitz Are Subject of Formal Probe by U.S. SEC
By John Gittelsohn - Jul 2, 2011 12:01 AM ET .
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Play VideoJuly 1 (Bloomberg) -- The U.S. Securities and Exchange Commission has started a formal investigation of St. Joe Co., Northern Florida’s largest landowner, and Chairman Bruce Berkowitz, its biggest shareholder, the company said today. John Gittlesohn reports on Bloomberg Television's "Taking Stock." (Source: Bloomberg)
.The U.S. Securities and Exchange Commission has started a formal investigation of St. Joe Co., Northern Florida’s largest landowner, and Chairman Bruce Berkowitz, its biggest shareholder, the company said.

The probe “covers a variety of matters” including securities-law anti-fraud provisions for corporate officers and board members, internal controls and financial reports, the Watersound, Florida-based company said in a filing with the SEC made after the close of regular U.S. trading yesterday.

“The order designates officers of the SEC to take the testimony of the company and third parties with respect to any or all of these matters,” according to the filing. St. Joe said it’s cooperating with the agency.

Berkowitz, whose Fairholme Capital Management LLC owns about 29 percent of St. Joe’s shares, was named chairman in March. Chief Executive Officer Britt Greene and three other board members resigned Feb. 28 after Berkowitz criticized their spending and corporate governance.

Berkowitz didn’t respond to an e-mail, telephone call to Fairholme’s Miami office or request for comment left for an outside spokesman yesterday.

In October, David Einhorn, who runs hedge fund Greenlight Capital Inc., accused St. Joe of failing to write down the value of its developments after the Florida real estate crash. In January, St. Joe said the SEC was conducting an informal investigation of its real estate impairment practices. The company received a “related order of private investigation” on June 24, it said yesterday.

Documents and Testimony
A formal investigation, such as the one St. Joe disclosed yesterday, enables the SEC to subpoena documents and testimony, according to the agency’s enforcement manual.

Einhorn, who had an undisclosed short position in St. Joe, declined to comment yesterday. Short sellers sell borrowed stock in the hope of buying the securities later at a lower price and returning them to the lender.

St. Joe also announced yesterday that it ended a $125 million revolving credit facility with BB&T Corp. (BBT)’s BB&T Capital Markets, effective yesterday, and will begin a stock repurchase program. The company has $103.8 million available under the program, it said.

St. Joe rose 14 cents to $20.87 yesterday in New York Stock Exchange composite trading. The shares have declined 4.5 percent this year.

To contact the reporter on this story: John Gittelsohn in New York at johngitt@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net
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Article said 900 thousand arces and I-Box says 560,000

cut my acre price about in half....more like 2,100 per arce....

several lifetimes is right...its still worth more than the 18/19 it is now

Not sure if it is my eyes, computer, glasses, map or poor scan but I can not make out the printing but I have an idea...

When I lived in FL on Treasure Island I use to drive back and froth from Dallas.....many times I took days to explore the roads as close to the coast as possible on my drive.

Referring back to google earth it looks like they have coast land from Apalachee Bay up by Crawfordsville (up in this area Jodie Foster has a 1000 acre spread) to Fort Walton...

yep I have driven all of that....there is a private community out of Santa Rosa I think that looked like a fairy tale neighborhood that I bet they built....

All they need is Industry and jobs and the people will come and then even more tourist. It is just time. Several lifetimes in that project.

map of joe holdings/scroll down

http://www.juliebettinger.com/samples/promopr/PromoPR_1_SpclFeature.pdf

Company History:
The St. Joe Company is one of the largest real estate operating companies in the Southeast. It is also the largest private landowner in Florida, with more than 1.1 million acres located across the Panhandle and along the state's eastern coast. Using its massive land holdings, the company develops both residential and commercial properties. Its majority-owned residential development subsidiary, Arvida Company L.P., builds planned residential, retirement, and resort communities. The St. Joe Commercial Group is the company's commercial development subsidiary, which builds corporate office space. Both Arvida and The St. Joe Commercial Group also have real estate brokerage components. The brokerage services arm of Arvida is Arvida Realty Services, the fifth-largest real estate brokerage firm in the nation. The Commercial Group's real estate services component is Advantis. Advantis provides brokerage, corporate real estate financial management, representation services, and tenant construction through more than 500 agents. St. Joe is also a major owner of rail, timber, and sugar assets which it is currently in the process of selling off in order to focus on real estate development.

St. Joe Beginnings: A Family Rebel and a Fortune in Real Estate

The St. Joe Company can trace its roots back to the duPonts, one of America's legendary entrepreneurial families. The duPonts built their fortune by manufacturing and marketing explosives, such as gunpowder, dynamite, and nitroglycerine, before diversifying into paints, plastics, and dyes. The St. Joe Company was founded by a rebellious family member, Alfred Irenee duPont, who decided to take his money out of the family business and put it elsewhere. Having started as a laborer in the duPont gunpowder-manufacturing company, Alfred eventually became the company's president. A colorful character and a nonconformist, he had a propensity for unconventional behavior. In 1921 the 57-year-old Alfred married a woman who was in her mid-thirties, scandalizing the staid Delaware society and causing something of an uproar.

In 1926 he again startled both his peers and his family by leaving Delaware altogether. The reason behind his sudden departure was his cousin, Pierre duPont. Pierre, who had just become Delaware's tax commissioner, intended to make the wealthy pay more in taxes. Alfred, who couldn't tolerate the thought of Pierre going over his personal finances, was determined to move his money matters safely out of his cousin's grasp. Taking his young wife, Jessie Ball, and his assets, duPont went south to Jacksonville, Florida.

Florida was just then in the throes of economic collapse. A hurricane had wreaked havoc on the Miami area, and real estate prices were spiraling downward. DuPont took advantage of the depressed market, buying up large tracts of land for just a few dollars per acre. His long-range goal was to open a paper company.

Shortly after he moved to Florida, duPont commissioned his wife's brother, Edward Ball, to locate and acquire good investment properties. Ball moved aggressively, purchasing hundreds of thousands of acres of land, as well as various banks and companies that had fallen into financial trouble. In 1933 a single transaction added 240,000 acres in northwest Florida to the duPont holdings. This particular transaction included two railroads, some phone companies, a land development company, a port terminal, and a sawmill. It also included almost the entire the gulf town of Port St. Joe.

1935--97: Sleepy Years

DuPont died in 1935, leaving the majority of his assets in a trust for his wife and appointing Edward Ball as head of his business conglomerate. His longstanding dream of opening a paper mill was finally realized when the executors of his estate formed the St. Joe Paper Company in Port St. Joe, Florida, in the late 1930s. Ball continued to aggressively add to the company's holdings, purchasing a number of corrugated cardboard box plants, a sugar company, and a controlling interest in the Florida East Coast Railway Company, which ran from Jacksonville to Key West. In addition, Ball kept building St. Joe's already-impressive land holdings. Beginning in the 1940s, the company began purchasing large tracts of timberland and using the timber to provide the pulp for paper products. By the 1970s, St. Joe's pulp and paper operation was one of the largest in the nation.

Ball ran St. Joe Paper until his death in 1981, and amassed enough real estate during his tenure to make the company the largest private landowner in Florida. Upon Ball's death, control of St. Joe remained with the Alfred I. duPont Testamentary Trust, which owned well over half of the company. The trust's beneficiary was the Nemours Foundation, an organization that operated children's clinics throughout Florida and Delaware, and a children's hospital in Wilmington, Delaware.

The 15 years following Ball's death were relatively uneventful. The managers who followed him did little with St. Joe's enormous land holdings, its various businesses, or its cash reserves. Although the company was profitable, it was far from being as profitable as it could be, and in the early 1990s, representatives of the duPont trust, Florida officials, and outside investors began to demand that the company produce more income. In response, the highly diversified St. Joe began to narrow its focus. Determining that its greatest potential lay in its vast land holdings, the conglomerate began the process of remaking itself as a real estate company.

The first step in the transformation process was to begin selling off holdings that fell outside the realm of real estate development. In April 1996 the company sold the stock of its telecommunications company, St. Joe Communications, as well as its interests in three cellular limited partnerships. The next businesses on the block were the company's namesake, the Port St. Joe paper mill, and its cardboard container plants, which were sold in May 1996. With the divestiture of its paper operations, the St. Joe Paper Company changed its name to the St. Joe Corporation.

1997: Peter Rummell Takes the Helm

More significant than the change in name was a change in leadership. In January 1997, after a nationwide search, the St. Joe board appointed Peter S. Rummell as the company's new CEO. The 51-year-old Rummell was a seasoned real estate veteran. He had begun his real estate career in 1971, developing Hilton Head Island, South Carolina, and Amelia Island, Florida, for the Sea Pines Company. In 1977 he took a managerial position with the Boca Raton-based Arvida Co., one of Florida's best-known residential community builders. He left Florida for New York in 1983, joining the Rockefeller Center Management Corp. Then, two years later, he became president of the Disney Development Company. At Disney, Rummell was charged with developing thousands of acres of land in Florida and elsewhere that were owned by the entertainment giant.

Rummell had plenty of raw material to work with in his new position at St. Joe. The company owned 1.1 million acres of land--located mostly in northwestern Florida--and had half of a billion dollars in cash and securities, with no debt. He also had plenty of autonomy: his mandate was simply to develop the company's land holdings in whatever ways he thought would improve earnings. Rummell recognized the unique nature of his new assignment. 'I don't know of anyone who has been given an almost $3 billion market capitalization, $500 million in cash, no debt, and almost six million feet of built and leased inventory, and been told to go make something happen,' he was quoted as saying in an April 1998 article in Fortune magazine.

One of Rummell's first moves was to replace most of the company's existing managers with a team of his own choosing. For his second-in-command, the company's president and chief operating officer, Rummell recruited Charles Ledsinger, Jr., the former CFO of Harrahs Entertainment. He also brought two former Disney execs on board as senior managers.

Rummell's strategy was to focus on all four segments of real estate: residential, commercial/industrial, resort, and entertainment. In his first year as CEO, he made headway in all four segments. Building up its commercial/industrial segment, the company formed a joint venture with the Orlando, Florida-based CNL Group, a large, privately held real estate finance and development company. The partnership was created to acquire commercial property and develop single and multi-tenant office buildings and industrial space in the central Florida area. The commercial group also purchased a one-third interest in the Miami-based Codina Group, Inc., a commercial/industrial developer in southern Florida. The company began planning new resorts for the state's Gulf Coast and purchased a golf course development company.

St. Joe Commercial also began planning for the development of several parcels of land that it owned through a 54 percent interest in Florida East Coast Industries (FECI). FECI and its subsidiaries, which owned and operated two railroads and more than 15,400 acres of undeveloped land, which was mostly located adjacent to the railroads. St. Joe planned to develop the FECI-owned land into office and industrial parks.

St. Joe's residential division also made an important move in 1997 by acquiring a 74 percent interest in the Arvida Company. In addition to being one of Rummell's former employers, Arvida was one of Florida's best-known residential community developers.

Rummell launched St. Joe's entertainment division by partnering with the National Football League to develop a chain of interactive entertainment centers for U.S. cities that had NFL franchises. The company also purchased a one-third interest in a Seattle-based company that produced interactive games for club settings.

While it was moving to establish itself as a real estate development power, St. Joe was also quietly disposing of holdings that no longer fit into its plan. Late in 1997, the company agreed to sell its sugar operation--a 50,000-acre sugarcane plantation in the Everglades&mdashø the federal government for $133.5 million. The company's decision to sell to the government stemmed, in part, from a desire to protect the Everglades from destruction.

1998--99: Rapid Growth

The rapid pace St. Joe set in 1997 only increased over the next two years, on all four of the company's identified real estate fronts. Progress was especially noteworthy in the area of residential community development. St. Joe targeted several thousand acres of its Panhandle land holdings for residential development, and initiated construction in 1998. Rather than build traditional subdivisions, the company opted to create master-planned communities&mdashtual small towns, complete with shopping, dining, and entertainment within walking distance of the homes. The planned community concept was a familiar one to Rummell, who had been a key player in the development of Disney's innovative planned community, Celebration, Florida.

Two of St. Joe's projects that best exemplified this mixed-use development approach were Seagrove, a development in Northwest Florida's Walton County, and Southwood, a town planned for a 3,000-acre tract of land outside Tallahassee. Seagrove, which was modeled after a neighboring community named Seaside, was to be a 498-acre development, with 1,140 housing units, a resort hotel, retail space, and a beach club. Plans for Southwood included areas designated for office, commercial, and institutional use, a golf course, several parks, and a town center, as well as low-, medium-, and high-density residential zones. By the end of 1997, St. Joe had 23 communities in various stages of planning and development, including Seagrove and Southwood.

The residential arm of St. Joe also made an important move that allowed it to broaden the range of real estate services it offered. In July 1998 the company purchased Prudential Florida Realty Services, the largest real estate brokerage, sales, and services company in Florida. Renamed Arvida Realty Services, the subsidiary began handling residential sales, title and mortgage services, rentals, and marketing for the company through its 80 offices in south and central Florida.

On the commercial/industrial side of the business, St. Joe spread its geographic reach to include the rapidly developing triangle extending between Miami, Dallas, and Washington, D.C. The company entered this new territory by means of a single acquisition: the Virginia-based Goodman Segar Hogan Hoffler, L.P., one of the Southeast's largest commercial real estate firms. The Goodman Segar purchase, which was completed in September 1998, gave St. Joe a presence in such major Southeastern cities as Atlanta, Georgia; Raleigh and Durham, North Carolina; Richmond and Norfolk, Virginia; and Washington, D.C. The company also formed partnerships with two other out-of-state developers to develop commercial properties in Georgia and Texas.

In December 1998 St. Joe Commercial expanded again with the purchase of Florida Real Estate Advisors (FREA), a commercial real estate services company based in Tampa. The company combined its newly acquired Goodman Segar and FREA subsidiaries to form a commercial real estate services firm. The firm, christened Advantis, was one of the Southeast's largest, with more than 500 employees managing more than 30 million square feet of commercial and industrial space.

The company also looked for ways to improve profits from its transportation holdings. In early 1998 St. Joe's FECI subsidiary signed an agreement with Qwest, Inc., a fiber-optic company, to allow Qwest to install fiber-optic cable along FECI's railway tracks. It was speculated that contract could generate as much as $5 million in new revenue. FECI also began negotiations that would allow Amtrak to run passenger trains on its rails.

While ramping up its real estate business, St. Joe simultaneously prepared to shed another of its non-development-related assets. In March 1999 the company announced that it would sell up to 800,000 of its 1 million acres of timberland. To make the land a feasible purchase for more bidders, St. Joe planned to auction it off in 100,000-acre parcels instead of in its entirety.

Developing the Future

In Peter Rummell's first two years as CEO, St. Joe made enormous strides toward transforming itself. As of March 1999, St. Joe's residential division had 23 communities and resorts in various stages of planning and development, mostly located in northwest Florida. When fully built, the company's in-progress projects were expected to contain up to 19,500 housing and resort units.

St. Joe's commercial group, in part through Florida East Coast Industries, owned and managed more than six million square feet of rentable commercial and industrial space and had an additional 2.2 million square feet in planning and construction. The company planned to start work on yet another three million square feet of commercial space during the remainder of 1999.

In the summer of 1999, the company suspended its plans to auction off its forest holdings, citing a soft timber market as the reason. 'Market conditions have weakened since we initiated the timberland auction process largely due to mill closures, low pulp prices, and competition from three million acres of timberlands offered for sale across the region,' Rummell said in a July 22, 1999, press release. 'The economic cycles of the pulp and paper industry are well documented. St. Joe can and will be a disciplined seller in this highly cyclical marketplace.' The company anticipated resuming the auction process when market conditions improved.

Principal Subsidiaries:Arvida/JMB Partners, L.P. (26%); Arvida Realty Services; Codina Group, Inc. (33%); Deerfield Park, L.L.C. (61%); ENTROS, Inc. (44%); Florida East Coast Industries, Inc. (54%); St. Joe/Arvida Company, L.P. (74%); St. Joe/CNL Realty Group, Ltd. (50%); St. Joe Commercial Property Service, Inc.; St. Joe Timberland Company: WBP One, L.P. (50%).

Principal Competitors:Ampace Corporation; Bluegreen Corporation; CSX Corporation; Del Webb Corporation; Gables Residential Trust; Legend Properties, Inc.; Lennar Corporation; Norfolk Southern Corporation.