The St. Joe Company (JOE): history, ownership, mission, how it works & makes money (2024)

A Brief History of The St. Joe Company (JOE)

The St. Joe Company is a real estate development company based in Watersound, Florida. The company was founded in 1936 by Alfred I. duPont, a member of the wealthy duPont family, with the goal of developing the timberlands of Northwest Florida. Over the years, the company has evolved and expanded its operations to become one of the largest landowners in the state of Florida.

In the 1990s, The St. Joe Company shifted its focus from timberland to real estate development, particularly in the residential and commercial sectors. The company played a significant role in the development of the Florida Panhandle, including the creation of master-planned communities, resorts, and commercial centers.

One of the most well-known projects undertaken by The St. Joe Company is the development of WaterColor, a 499-acre beachfront community in Santa Rosa Beach, Florida. The company's commitment to environmentally sensitive development practices has earned it praise and recognition from environmental groups and sustainability advocates.

• In 1997, The St. Joe Company went public, trading on the New York Stock Exchange under the symbol JOE. This move allowed the company to raise capital for further expansion and investment in new projects.
• Throughout the years, The St. Joe Company has continued to acquire and develop land in Florida, with a focus on creating vibrant and sustainable communities that enhance the quality of life for residents and visitors alike.
• Today, The St. Joe Company remains a leader in real estate development in Florida, with a diverse portfolio of projects that span residential, commercial, and hospitality sectors. The company continues to uphold its commitment to responsible development practices and environmental stewardship.

Who Owns The St. Joe Company (JOE)

The St. Joe Company (JOE) is a real estate development company based in Florida, United States. Founded in 1936, the company has a long history of developing residential, commercial, and industrial properties in the Florida Panhandle region.

As of the most recent data available, the largest shareholder of The St. Joe Company is Fairholme Capital Management, an investment management firm founded by renowned investor Bruce Berkowitz. Fairholme Capital Management owns approximately 26.6% of the company's outstanding shares, making it the largest institutional investor in JOE.

Other significant institutional investors in The St. Joe Company include Vanguard Group, BlackRock Inc., and Dimensional Fund Advisors. These institutional investors hold substantial positions in JOE and play a key role in shaping the company's strategic direction.

• Fairholme Capital Management: 26.6%
• Vanguard Group: Percentage not disclosed
• BlackRock Inc.: Percentage not disclosed
• Dimensional Fund Advisors: Percentage not disclosed

Overall, The St. Joe Company is primarily owned by institutional investors, with Fairholme Capital Management holding the largest stake in the company. These institutional investors play a significant role in influencing the company's operations, development projects, and financial performance.

The St. Joe Company (JOE) Mission Statement

The mission of The St. Joe Company (JOE) is to create places that inspire people to build a better life. We are committed to enhancing the quality of life for our customers, employees, and communities by developing innovative, sustainable, and desirable places to live, work, and play.

• Customer focus: We prioritize the needs and desires of our customers, ensuring that every development we undertake meets and exceeds their expectations.
• Sustainability: We are dedicated to environmental stewardship and sustainable practices in all of our projects, working to protect and preserve the natural beauty of the areas in which we operate.
• Community engagement: We are committed to being good neighbors and actively engaging with the communities in which we work, listening to their feedback and incorporating their input into our developments.
• Innovation: We strive to push the boundaries of traditional development practices, constantly seeking new and creative ways to create vibrant, thriving communities.
• Integrity: We conduct our business with the highest ethical standards, treating our customers, employees, and partners with honesty, fairness, and respect at all times.

How The St. Joe Company (JOE) Works

The St. Joe Company, also known as JOE, is a real estate development company based in Florida. The company focuses on developing and managing a wide range of properties, including residential, commercial, and industrial spaces.

One of the key aspects of how JOE works is its focus on sustainable development. The company is committed to building environmentally-friendly and socially responsible projects that enhance the communities in which they are located.

JOE typically begins a project by acquiring land in strategic locations that have the potential for growth and development. The company then works with architects, engineers, and other professionals to design and plan the development of the property.

Another important aspect of JOE's work is its emphasis on creating vibrant and inclusive communities. The company often includes amenities such as parks, recreational facilities, and retail spaces to create a sense of community and enhance the quality of life for residents.

• Residential Development: JOE develops a variety of residential properties, including single-family homes, townhouses, and condominiums. The company focuses on creating well-designed, sustainable homes that meet the needs of modern families.
• Commercial Development: In addition to residential properties, JOE also develops commercial spaces such as office buildings, retail centers, and hotels. The company works with businesses to create customized spaces that meet their specific needs.
• Industrial Development: JOE is also involved in developing industrial properties, such as warehouses and distribution centers. The company focuses on creating efficient and sustainable spaces that meet the needs of today's businesses.

Overall, The St. Joe Company works to create high-quality, sustainable developments that enhance the communities in which they are located. The company's focus on environmental responsibility and community-building sets it apart in the real estate development industry.

How The St. Joe Company (JOE) Makes Money

The St. Joe Company, also known as JOE, primarily makes money through the following key sources:

• Real Estate Sales: The company develops and sells residential, commercial, and industrial real estate properties. This includes land development, homebuilding, and leasing activities. The revenue generated from real estate sales is a major source of income for JOE.
• Timber Sales: The St. Joe Company owns vast timberlands in Florida, which it manages for sustainable timber production. Timber sales involve harvesting and selling timber to various customers, including lumber mills and paper companies. This segment contributes significantly to the company's revenue.
• Leasing Activities: JOE also earns income through leasing its real estate properties to tenants. This includes leasing out office buildings, retail spaces, and other commercial properties. The rental income from leasing activities provides a steady stream of revenue for the company.
• Hospitality and Leisure: The St. Joe Company operates resorts, golf courses, and other recreational facilities in Florida. By offering hospitality services and amenities, the company generates revenue from tourists and visitors who frequent these properties.
• Investment Income: JOE may also earn money through investments in financial securities, such as stocks, bonds, and other assets. The company's investment portfolio can generate income through dividends, interest, and capital gains.

Overall, The St. Joe Company utilizes a diversified business model to generate revenue from various sources, including real estate sales, timber sales, leasing activities, hospitality services, and investment income.