JOE on NYSE

St. Joe Company

Land development firm

The St. Joe Company is a land development company headquartered in Panama City Beach, Florida.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1936Founded1

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  • TickerJOE on NYSE1
  • Industryreal estate development1
  • HeadquartersWatersound1
  • Websitewww.joe.com
  • Incorporated inFL5
  • Business address130 Richard Jackson Blvd, Suite 200, Panama City Beach, Fl 324075
  • Filer categoryLarge accelerated filer5
  • Legal formCorporation4
  • LEI529900XVHOT3BF8PWG494
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered address133 South Watersound Parkway, 32461 Watersound, United States4
  • Registered withFlorida Division of Corporations, 1324424

The St. Joe Company is a land development company headquartered in Panama City Beach, Florida. Founded in 1936 and until 1966 known as St. Joe Paper Company, the company still operates a forestry division but is primarily engaged in real estate development and asset management. The company's land holdings are concentrated in Northwest Florida with the vast majority located in Bay and Walton counties. Of the 110,500 acres The St. Joe Company owns that fall within the Bay-Walton Sector Plan, 53,000 acres were placed into conservation by the company. The company develops its land for a variety of uses including residential neighborhoods, hotels, apartment communities, leasable commercial space, office buildings and medical facilities among others.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

43.1%Gross margin7
28.5%Operating margin7
22.5%Net margin7
27.4%Revenue growth, 20257
15.1%Return on equity7
0.51×Debt to equity7
$186.6MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Real Estate brought in 51% of the revenue St. Joe Company broke down this way in fiscal 2025.

  1. Real Estate$234.2M751%up 64% from 2024
  2. Hospitality$215.4M746%up 8% from 2024
  3. Homebuilder Homesite Sales, Lot Residuals$10.9M72%up 203% from 2024
  4. Homebuilder Homesite Sales, Certain Products And Services$2.8M71%up 12% from 2024
Products and services by year
Products and services202320242025
Real Estate$186.0M$143.2M$234.2M
Hospitality$152.4M$199.2M$215.4M
Homebuilder Homesite Sales, Lot Residuals$24.0M$3.6M$10.9M
Homebuilder Homesite Sales, Certain Products And Services$5.0M$2.5M$2.8M

Business segments

Hospitality brought in 44% of the revenue St. Joe Company broke down this way in fiscal 2025.

  1. Hospitality$220.7M744%up 9% from 2024
  2. Residential Real Estate$165.1M733%up 41% from 2024
  3. Commercial$119.0M724%up 51% from 2024
Business segments by year
Business segments202320242025
Hospitality$154.6M$202.7M$220.7M
Residential Real Estate$155.8M$117.0M$165.1M
Commercial$74.4M$78.6M$119.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs70¢$358.4M
  • Income tax8¢$39.2M
  • Profit23¢$115.6M

Out of $513.2M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢$4.1M
  • Dividends paid18¢$33.6M
  • Share buybacks21¢$40.3M
  • Kept or used elsewhere59¢$112.8M

Out of $190.7M of cash from operations.7

Financial statements

Revenue8910117$513.2M in 2025+304% since 2019
0$200.0M$400.0M$600.0M2019: $127.1M$127.1M20192020: $160.6M$160.6M2020+26%2021: $267.0M$267.0M2021+66%2022: $252.3M$252.3M2022−5%2023: $389.3M$389.3M2023+54%2024: $402.7M$402.7M2024+3%2025: $513.2M$513.2M2025+27%
Gross profit117$221.0M in 2025+108% since 2022
0$100.0M$200.0M$300.0M2022: $106.4M$106.4M20222023: $153.3M$153.3M2023+44%2024: $167.2M$167.2M2024+9%2025: $221.0M$221.0M2025+32%
Operating income8910117$146.2M in 2025+367% since 2019
0$50.0M$100.0M$150.0M2019: $31.3M$31.3M20192020: $47.1M$47.1M2020+50%2021: $94.5M$94.5M2021+101%2022: $61.5M$61.5M2022−35%2023: $90.7M$90.7M2023+48%2024: $95.6M$95.6M2024+5%2025: $146.2M$146.2M2025+53%
Net income8910117$115.6M in 2025+332% since 2019
0$50.0M$100.0M$150.0M2019: $26.8M$26.8M20192020: $45.2M$45.2M2020+69%2021: $74.6M$74.6M2021+65%2022: $70.9M$70.9M2022−5%2023: $77.7M$77.7M2023+10%2024: $74.2M$74.2M2024−5%2025: $115.6M$115.6M2025+56%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Leasing revenue$63.6M$60.3M$50.8M
Total revenue$513.2M$402.7M$389.3M
Cost of revenue$292.3M$235.5M$236.0M
Corporate and other operating expenses$27.3M$25.2M$23.8M
Depreciation, depletion and amortization$47.5M$46.4M$38.8M
Total expenses$367.0M$307.2M$298.6M
Operating income$146.2M$95.6M$90.7M
Investment income, net$13.2M$13.5M$13.3M
Interest expense-$30.5M-$33.6M-$30.6M
Equity in income from unconsolidated joint ventures$25.6M$23.6M$22.7M
Other income (expense), net$580.0K-$736.0K$4.0M
Total other income, net$8.9M$2.8M$9.3M
Income before income taxes$155.1M$98.3M$100.1M
Income tax expense-$39.2M-$26.0M-$26.0M
Net income$115.9M$72.4M$74.1M
Net (income) loss attributable to non-controlling interest-$255.0K$1.8M$3.7M
Net income attributable to the Company$115.6M$74.2M$77.7M
Basic (in dollars per share)$2.00$1.27$1.33
Diluted (in dollars per share)$1.99$1.27$1.33
Basic (in shares)57.9M shares58.3M shares58.3M shares
Diluted (in shares)58.0M shares58.3M shares58.3M shares

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The story

Company History & Overview

The St. Joe Company (then St. Joe Paper Company) was founded in 1936, and at one point was the second largest private landholder in the state of Florida, owning more than a million acres of property in the state. Over time, properties in other parts of the state were sold as the Company began to focus on strategic land holdings in Northwest Florida.

The St. Joe Company transitioned from a paper/industrial focus to land development, and in 2010 moved its corporate offices from Jacksonville, FL to the Walton County/Bay County area to be closer to the majority of their future development holdings.

In 2010, Northwest Florida Beaches International Airport (ECP) opened on 4,000 acres of land donated by The St. Joe Company. At the time, the old airport being replaced handled about 300,000 passengers per year. In 2022, approximately 1.5 million passengers flew through ECP.

In 2014 The St. Joe Company sold more than 380,000 acres – to AgReserves for $562 million, retaining strategic land holdings concentrated in Northwest Florida.

Eventually – in 2020 – the company HQ moved into the newly constructed corporate offices in the Beckrich Office Park on R. Jackson Blvd. in Panama City Beach.

Today, the majority of The St. Joe Company's land holdings are in the Bay/Walton County area, 110,500 acres of which are being developed under a 50-year plan, with 53,000 acres being placed into conservation.

The St. Joe Company’s current total land holdings in Northwest Florida (including areas outside of the Bay-Walton Sector Plan) is about 171,000 acres.

The 50-year Bay-Walton Sector Plan gives legal rights for The St. Joe Company to develop more than 170,000 residential dwelling units, more than 22 million square feet of retail, commercial and industrial space and more than 3,000 hotel rooms on lands it owns within Bay and Walton Counties.

Read the full text

Beginning

The company was founded by Edward Ball in 1936 as part of the Alfred I. du Pont Testamentary Trust. The staunchly segregationist Ball was du Pont's brother-in-law and also affiliated with the Florida Democrat political group known as "The Pork Chop Gang". Prior to the company's formal establishment, the trust had already begun land purchases in 1923. During the land booms in South Florida, the company acquired still-cheap land in the Florida Panhandle. In 1933, du Pont purchased the Apalachicola Northern Railroad.

The Apalachicola Northern Railroad had extended its network from Chattahoochee to Port St. Joe, Florida, in 1910, hoping to take advantage of increased shipping trade through the Panama Canal. However, when the Great Depression hit, business dropped off significantly. Du Pont purchased the struggling railroad, and made plans to use the infrastructure to build a paper mill, leading to the foundation of the St. Joe Company.

Du Pont drew up elaborate plans for the development of his mill town as "The Model City of the South", but died before it could be completed. His brother-in-law, Ed Ball, took control of the St. Joe Company in 1935, but never acted on the master city plan.

Construction began in 1936, and from 1938 to 1996, the company operated a paper mill at Port St. Joe, as St. Joe Paper Company. From 1938 to 1974 St. Joe Paper Company discharged mill wastewater into an unlined impoundment in the Highland View Neighborhood and St. Joe Bay. Land purchases continued throughout the 1940s and 1950s, often for "mere dollars an acre," and St. Joe eventually owned more than one million acres (4,000 km2). The company invigorated the local economy following the Depression, employing thousands at its paper mill, but wreaked havoc on the environment. The mill released sulfurous exhaust from sulfate pulping and dioxins, an unintended toxin generated by the chlorine bleaching process used to make white pulp.

By the 1950s, the company was drawing 35 million gallons of water a day from the Floridan Aquifer, seriously depleting the water table. St Joe Paper also clear-cut millions of acres of old growth forest, engaging in silviculture to replant the areas with slash pine. The practice decimated the native longleaf pine stands, reducing the species to "2 percent of its former range." Because of this, the United States Department of the Interior designated parts of the region a Critically Endangered Ecosystem.

The paper mill was most profitable in the 1960s, with products being directly marketed to company-owned box plants. However, an extended period of down time (9-months) due to market conditions in 1996 signaled the beginning of the end for the mill. After nearly sixty years, St. Joe decided to get out of the paper business. The mill was sold in 1996 to Florida Coast Paper for $390 million, and that company was able to operate and produce paper until the decline of the container board market. Florida Coast Paper closed the mill on August 16, 1998, and did not reopen. The mill was gone by 2003.

After the dismantling of the paper mill, the St. Joe Company was back in town in 2008 to unveil a $344 million plan for the former mill site that was similar to Alfred du Pont's idealized Southern town – an integrated city with upscale residential districts, entertainment venues, a thriving port, and a diverse economy. The State of Florida re-routed US 98 inland to permit development of beachfront property that would become the Windmark Beach community.

From Wikipedia’s article on St. Joe Company, shared under CC BY-SA 4.0.6

Leadership

Who has led St. Joe Company, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (39)

Products and brands

The St. Joe Company owns several hospitality assets in Northwest Florida. The popular beach vacation towns of Panama City Beach and South Walton County, Florida are home to several St. Joe hotels including WaterColor Inn, Watersound Inn, The Pearl Hotel, The Lodge 30A, Home2 Suites by Hilton, Camp Creek Inn, Hilton Garden Inn Panama City Airport, Homewood Suites Panama City Beach, Hotel Indigo Panama City Marina and Embassy Suites by Hilton Panama City Beach Resort. As of December 31, 2023, the company had an additional hotel that it plans to open in 2024. The company currently has 1,177 hotel rooms in its portfolio. Once the hotel under construction is complete, that total will increase to 1,298.

In February 2023, the Company opened The Lodge 30A, an 85-room boutique hotel in Seagrove Beach, Florida. In April 2023, The St. Joe Company opened Embassy Suites by Hilton Panama City Beach Resort featuring 255 guest suites, multiple restaurants, meeting and convention space and an outdoor 5th floor reception venue with views of the Gulf of Mexico. A 107-room Home2 Suites by Hilton in Santa Rosa Beach, Florida opened in May 2023. June 2023 saw the opening of Hotel Indigo Panama City Marina with a top floor sky bar and full-service restaurant taking advantage of the hotel's unobstructed views of St. Andrews Bay. The hotel's location in downtown Panama City, Florida is undergoing a rebuilding process after sustaining significant damage during Hurricane Michael in 2018. Camp Creek Inn opened in June 2023. This 75-room boutique inn sits on the grounds of Watersound Club, St. Joe's private membership club. Camp Creek Inn is located adjacent to Camp Creek Golf Course and a new Club amenity project that opened in April 2023 and includes pools, tennis and pickleball courts, a wellness center, dining venues, a playground, sports courts and other amenities available to club member and guests of Camp Creek Inn. In 2023, St. Joe hotels welcomed guests from all 50 states.

Additionally, Watersound Club members get access to golf at the club's two golf courses: Shark's Tooth Golf Course and Camp Creek Golf Course. Also available to members is a sprawling Beach Club featuring multiple pools, tennis courts and dining venues as well as more than 1,000 feet of private Gulf of Mexico beachfront. As of December 2023, Watersound Club had members from 40 states.

St. Joe's two marinas were destroyed during Hurricane Michael in 2018. In 2022, the company completed the rebuilding of the two marina and reopened them under the name Point South Marina - Port St. Joe and Point South Marina - Bay Point. Combined, the marinas feature 427 boat slips.

From Wikipedia’s article on St. Joe Company, shared under CC BY-SA 4.0.6

Former names

  • ST JOE CORPMay 15, 1998 to Aug 13, 19985
  • ST JOE PAPER COApr 5, 1994 to Apr 24, 19985

Timeline

  1. May 24, 2017New chief executive Jorge Luis Gonzalez becomes CEO15
  2. Mar 6, 2012New chief executive Park Brady becomes CEO16
  3. Sep 23, 2008New chief executive William Britton Greene becomes CEO17
  4. Jan 5, 2006New chief executive Peter S. Rummell becomes CEO18
  5. 1936Founded Founded1

Filings

190 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 33 major events, 83 insider forms, 23 large holders, 31 other. The latest 20:

  1. Jul 29, 202610-Q EDGAR
  2. Jul 29, 20268-K EDGAR
  3. Jun 23, 20264 EDGAR
  4. Jun 23, 2026SCHEDULE 13D/A EDGAR
  5. Jun 16, 20264 EDGAR
  6. Jun 11, 20264 EDGAR
  7. Jun 8, 20264 EDGAR
  8. May 14, 20268-K EDGAR
  9. May 12, 20268-K EDGAR
  10. May 12, 20264 EDGAR
  11. May 7, 2026144 EDGAR
  12. May 7, 2026SCHEDULE 13D/A EDGAR
  13. May 7, 20264 EDGAR
  14. May 4, 20268-K EDGAR
  15. Apr 29, 2026SCHEDULE 13G EDGAR
  16. Apr 29, 202610-Q EDGAR
  17. Apr 29, 20268-K EDGAR
  18. Mar 31, 2026ARS EDGAR
  19. Mar 31, 2026DEFA14A EDGAR
  20. Mar 31, 2026DEF 14A EDGAR

The 190 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

119 open-market trades by officers, directors and large owners since October 2021: 5 buys and 114 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 18, 2026BERKOWITZ BRUCE R10% ownerSale140,400$65.71$9.2MForm 4
Jun 16, 2026BERKOWITZ BRUCE R10% ownerSale26,700$65.03$1.7MForm 4
Jun 15, 2026BERKOWITZ BRUCE R10% ownerSale94,200$65.59$6.2MForm 4
Jun 12, 2026BERKOWITZ BRUCE R10% ownerSale63,800$65.25$4.2MForm 4
Jun 10, 2026BERKOWITZ BRUCE R10% ownerSale29,200$65.13$1.9MForm 4
Jun 9, 2026BERKOWITZ BRUCE R10% ownerSale30,500$65.10$2.0MForm 4
Jun 8, 2026FAIRHOLME FUNDS INC10% ownerSale29,000$65.12$1.9MForm 4
Jun 5, 2026FAIRHOLME FUNDS INC10% ownerSale33,600$65.18$2.2MForm 4
Jun 4, 2026FAIRHOLME FUNDS INC10% ownerSale59,100$65.09$3.8MForm 4
May 11, 2026FAIRHOLME FUNDS INC10% ownerSale29,200$65.49$1.9MForm 4
May 8, 2026FAIRHOLME FUNDS INC10% ownerSale86,500$66.09$5.7MForm 4
May 7, 2026BERKOWITZ BRUCE R10% ownerSale25,000$65.33$1.6MForm 4
May 6, 2026BERKOWITZ BRUCE R10% ownerSale163,600$65.78$10.8MForm 4
May 5, 2026BERKOWITZ BRUCE R10% ownerSale189,200$65.78$12.4MForm 4
Mar 17, 2026BERKOWITZ BRUCE R10% ownerSale21,100$72.22$1.5MForm 4
Mar 4, 2026FAIRHOLME FUNDS INC10% ownerSale1,400$73.50$102.9KForm 4
Mar 3, 2026BERKOWITZ BRUCE R10% ownerSale8,800$73.14$643.6KForm 4
Mar 2, 2026BERKOWITZ BRUCE R10% ownerSale11,200$72.64$813.6KForm 4
Feb 27, 2026BERKOWITZ BRUCE R10% ownerSale19,000$71.85$1.4MForm 4
Feb 20, 2026FAIRHOLME FUNDS INC10% ownerSale1,000$71.51$71.5KForm 4

All 119 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fairholme Capital Management LLC18,182,367$1.1B76.4%−1,027,800
BlackRock, Inc.6,148,018$385.1M0.0%+165,553
Vanguard Portfolio Management LLC3,922,394$245.7M0.0%+82,829
Vanguard Capital Management LLC1,800,077$112.7M0.0%−538
State Street Corp1,554,006$97.3M0.0%+68,496
Dimensional Fund Advisors LP1,353,659$84.8M0.0%+34,721
Select Equity Group, L.P.1,341,063$84.0M0.4%+66,075
Geode Capital Management, LLC1,198,445$75.1M0.0%+181,081
Praetorian PR LLC675,000$42.3M13.5%No change
Fmr LLC651,353$40.8M0.0%−346
Horizon Kinetics Asset Management LLC592,608$37.1M0.4%+49,999
First Trust Advisors LP533,471$33.4M0.0%+405,914
Nitor Capital Management LLC526,496$33.0M22.3%−1,104
Gabelli Funds LLC505,400$31.7M0.2%−15,000
Morgan Stanley492,857$30.9M0.0%+30,717
Northern Trust Corp477,972$29.9M0.0%+24,365
Gamco Investors, Inc. Et Al467,170$29.3M0.3%−4,340
Victory Capital Management Inc409,952$25.7M0.0%−26,389
Invesco Ltd.402,756$25.2M0.0%+52,304
Punch & Associates Investment Management, Inc.376,859$23.6M1.2%New
Charles Schwab Investment Management Inc370,424$23.2M0.0%+28
Bank of New York Mellon Corp308,825$19.3M0.0%+5,234
Vanguard Fiduciary Trust Co283,923$17.8M0.0%+7,958
Front Street Capital Management, Inc.271,931$17.0M1.9%−11,053
Diversified Investment Strategies, LLC268,175$16.3M10.5%−4,300

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Oct 27, 2022Susie LeeDemocratic, HouseSale$1,001 - $15,000+12.1%Report
Apr 27, 2021Susie LeeDemocratic, HousePartial sale$1,001 - $15,000+37.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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