St. Joe Company (The) $JOE Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of St. Joe Company (The) (NYSE:JOE) by 46.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,790 shares of the financial services provider’s stock after selling 7,607 shares during the period. State of Alaska Department of Revenue’s holdings in St. Joe were worth $577,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in St. Joe in the 2nd quarter valued at $385,050,000. Nitor Capital Management LLC bought a new position in St. Joe in the 2nd quarter worth $32,974,000. Punch & Associates Investment Management Inc. bought a new position in St. Joe in the 2nd quarter worth $23,603,000. Berkley W R Corp acquired a new position in St. Joe during the 2nd quarter worth $13,124,000. Finally, Bank of America Corp DE acquired a new position in St. Joe during the 2nd quarter worth $11,797,000. 86.67% of the stock is owned by institutional investors.

St. Joe News Summary

Here are the key news stories impacting St. Joe this week:

• Positive Sentiment: An investor letter from Praetorian Capital described St. Joe (JOE) as positioned to benefit from continued population migration to its markets and inflation, which could support demand for its real estate, hospitality and residential assets. However, this is an outside investment thesis rather than new company guidance or operating data. The St. Joe Is Positioned to Benefit from Population Migration and Inflation
• Neutral Sentiment: The St. Joe Company announced key leadership appointments. The move may help support execution and strategic continuity, but the available report does not identify major changes to strategy, financial forecasts or capital allocation. The St. Joe Company Announces Key Leadership Appointments

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of St. Joe from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

St. Joe Price Performance

NYSE JOE opened at $67.56 on Friday. The stock has a 50-day simple moving average of $66.43 and a 200 day simple moving average of $65.32. St. Joe Company has a twelve month low of $48.81 and a twelve month high of $73.54. The stock has a market capitalization of $3.85 billion, a PE ratio of 31.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.84 and a current ratio of 1.84.

St. Joe (NYSE:JOE) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $158.86 million for the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.

St. Joe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 21st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 21st. St. Joe’s dividend payout ratio is currently 29.91%.

St. Joe Profile

The St. Joe Company (NYSE: JOE) is a real estate development and asset management company focused primarily on Northwest Florida. The company plans, develops and manages residential, commercial and hospitality properties, with activities concentrated in the communities and coastal markets surrounding Panama City and Destin.

St. Joe’s residential business includes the development of master-planned communities and residential neighborhoods, while its commercial activities include office, retail, medical and industrial properties.